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From RTT News

Jefferies Group Declines In Pre-Market After Posting Q1 Loss [JEF]

4/21/2008 9:15:09 AM Jefferies Group (JEF) slumped in pre-market trading, down about 3 percent. The fall came after the company reported a loss in the first-quarter.

The stock was down 48 cents just after 9:10 am ET, dropping to $14.50. If pre-market losses hold, the stock will open at its lowest level since Wednesday.

Jefferies Group on Monday announced a first quarter net loss of $60.5 million or $0.43 per share, compared to net earnings of $62.3 million or $0.42 per share in the prior year quarter.

On average, eight analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.12 per share.

Net revenues were down 52% to $201.2 million from $418.8 million in the first quarter last year. Six Wall Street analysts expected revenues of $313.63 million.

 

Here are my initial observation on Jeffries. I will follow up with more modeled assumptions later this week if I get the time.