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Tuesday, December 16, 2014

Jefferies reports loss, seeks options for brokerage unit, (NYSE: LUK)

Investment bank Jefferies Group LLC, owned by Leucadia National Corp, reported a quarterly loss and said it was exploring strategic alternatives for its futures-brokerage unit. Net loss attributable to the company was $92.4 million for the fourth quarter ended Nov. 30, compared with a profit of $109.9 million a year earlier, the company said on Tuesday.Net revenue fell about 43 percent to $537.6 million."As a result of the growth and margin challenges we have recently faced in the Bache business we acquired in mid-2011, we are pursuing strategic alternatives for this business, and discussions with third parties in this regard are already underway," Jefferies Chief Executive Richard Handler said in a statement.

Leucadia National Corporation is a diversified holding company. Shares of LUK fell by 1.06% or $-0.23/share to $21.57. 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 4029090.