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Thursday, October 22, 2015

Lazard profit beats forecast after busy quarter for M&A, (NYSE: LAZ)

Lazard Ltd, a financial advisory and asset management firm, reported a better-than-expected profit and record quarterly operating revenue after advising on several billion-dollar deals.Low U.S. interest rates have helped to push merger activity to levels last seen before the financial crisis in 2008, driving a 19 percent jump in Lazard's quarterly fees from takeovers. The company's shares rose 1.6 percent to $45.98 in premarket trading on Thursday."The M&A environment feels pretty good to us. Valuations are more reasonable than they were," Lazard Chief Executive Kenneth Jacobs said in an interview.

Lazard Ltd (Lazard) is a financial advisory and asset management company. Shares of LAZ remained unchanged at $45.24. In the past year, the shares have traded as low as $41.26 and as high as $59.82. On average, 924525 shares of LAZ exchange hands on a given day and today's volume is recorded at 0.