Jefferies Financial Group Inc

NYSE:JEFUnited States

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• Sector Update: Financial Stocks Decline Late Afternoon, from 3:41PM ET on Thursday Jun 27, 2024 by MT Newswires

  3:41PM ET on Thursday Jun 27, 2024 by MT Newswires
  Companies Mentioned: JEF, USB, COIN, DECA
  03:41 PM EDT, 06/27/2024 (MT Newswires) -- Financial stocks fell in late Thursday afternoon trading, with the NYSE Financial Index down 0.2% and the Financial Select Sector SPDR Fund (XLF) shedding 0.3%. The Philadelphia Housing Index and the Real E...

• Sector Update: Financial Stocks Mixed Thursday Afternoon, from 1:57PM ET on Thursday Jun 27, 2024 by MT Newswires

  1:57PM ET on Thursday Jun 27, 2024 by MT Newswires
  Companies Mentioned: JPM, JEF, COIN
  01:57 PM EDT, 06/27/2024 (MT Newswires) -- Financial stocks were mixed in Thursday afternoon trading, with the NYSE Financial Index fractionally higher and the Financial Select Sector SPDR Fund (XLF) 0.2% lower. The Philadelphia Housing Index was up...

• Sector Update: Financial, from 1:34PM ET on Thursday Jun 27, 2024 by MT Newswires

  1:34PM ET on Thursday Jun 27, 2024 by MT Newswires
  Companies Mentioned: JEF
  01:34 PM EDT, 06/27/2024 (MT Newswires) -- Financial stocks were mixed in Thursday afternoon trading, with the NYSE Financial Index fractionally higher and the Financial Select Sector SPDR Fund (XLF) 0.1% lower. The Philadelphia Housing Index was up...

• DJ Jefferies Teases a Strong Quarter for Wall Street -- WSJ, from 12:45PM ET on Thursday Jun 27, 2024 by Dow Jones

  12:45PM ET on Thursday Jun 27, 2024 by Dow Jones
  Companies Mentioned: JEF
  By Telis Demos Independent investment bank Jefferies Financial Group posted a sizable jump in some key parts of its business in its latest quarter, triggering a surge in its share price and likely previewing some optimism across Wall Street. Investment banking activity still isnt back to the nosebleed levels seen back in 2021, which then dropped as the Federal Reserve began hitting the brakes via sharp increases in interest rates. But the market appears eager to get ahead of Wall Streets rebound. Jefferies shares jumped nearly 8% on Thursday and were hitting new all-time highs. If they ended the session here, it would be their first new record close since before the 2008 financial crisis. This may saddle the rest of Wall Street with big expectations when they report their own second quarters in a few weeks. Most notably, Jefferies reported a surge in debt underwriting revenue. This jumped nearly 60% from the firms first fiscal quarter to its second, which ended in May, and more than doubled from a year earlier. That business is driven by activities like leveraged lending and other financing activity, including for private-equity backed companies. Lagging in growth, though, were merger-and-acquisition fees. Jefferies advisory revenue was down from its first quarter, and up just 12% year-on-year. After all, the volume of deals being struck is only picking up incrementally. Global announced M&A volumes are tracking 6% higher year-over-year in the second quarter, according to figures compiled by Morgan Stanley analysts. Some companies and dealmakers may be waiting for the Fed to actually make good on anticipated rate cuts. A move lower in U.S. rates would lead to a more powerful recovery for M&A, Morgan Stanleys analysts wrote in a Wednesday note. Whatever the future holds for interest rates and investment banking, the market seems to be ready to turn the page from the last two years. This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). (END) Dow Jones Newswires June 27, 2024 12:45 ET (16:45 GMT)