Investment bank Jefferies Group LLC, owned by Leucadia National Corp, reported a quarterly net loss and said it was in talks to sell its futures brokerage.Jefferies bought the business, formerly known as Prudential Bache, from Prudential Financial Inc in 2011 for $430 million to expand into a full-fledged investment bank."As a result of the growth and margin challenges we have recently faced in the Bache business ... we are pursuing strategic alternatives for this business," Jefferies Chief Executive Richard Handler said in a statement.Jefferies' investment banking revenue fell 24 percent to $316 million the fourth quarter ended Nov. 30 due to lackluster fixed income trading in a tepid trading environment.
Leucadia National Corporation is a diversified holding company. Shares of LUK fell by 1.6% or $-0.345/share to $21.22. In the past year, the shares have traded as low as $21.13 and as high as $28.72. On average, 2026830 shares of LUK exchange hands on a given day and today's volume is recorded at 298772.
Prudential Financial, Inc. is a financial services company. Shares of PRU fell by 1.0% or $-0.86/share to $84.76. In the past year, the shares have traded as low as $75.89 and as high as $94.30. On average, 2776020 shares of PRU exchange hands on a given day and today's volume is recorded at 154705.
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