Jefferies (JEF) Issues Update on Q2 Results
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Jefferies Group, Inc. (NYSE: JEF) sees Q2 net earnings greater than $50 million on sales which are expected to exceed $500 million.
The firm expects that Fixed Income and Commodities revenues will exceed the record set in the first quarter of 2009, driven by record quarterly results in the sales and trading of corporate bonds, mortgage- and asset backed securities, rates, municipal bonds and emerging markets debt.
In addition, solid contributions are expected from other business lines that make up the firm's full-service diversified platform, including meaningful positive results in High Yield. The firm also expects Investment Banking revenues for the second quarter to exceed $90 million, which would be an increase of 146% vs. first quarter 2009 results.
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