LaBranche & Co. sinking after hours

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ari_veru

MONDAY, MARCH 31, 2003 5:43 PM
- Reuters U.S. Company News

NEW YORK, March 31 (Reuters) - Shares of LaBranche & Co. (LAB) , a New York Stock Exchange specialist, fell sharply after Monday's closing bell, after it warned that its first-quarter earnings would miss Wall Street estimates.

Shares of LaBranche, which runs the largest specialist operation on the floor of the NYSE, dropped to $15.75 on Instinet, down from its close of $18.38. LaBranche said it expects first-quarter earnings of 6 cents to 8 cents a share, compared with analysts' target range of 21 cents to 30 cents a share, according to Thomson First Call.

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As much as I hate the specialists, this is not good news, because it reflects how difficult the listed trading has become lately. I would appreciate if you comment on this news, and share your thoughts on the future of listed trading and how you personally are preparing/adjusting yourself.
 
have the NYSE and dr. evils little twin grasso adjusting and creating new rules to their benefit.

If the true participation and volatility does not return, the story remains the same

Either way its time to buy puts on the NYSE

Derivatives continue to beckon
 
the speculators really are moving to futures. I didn't believe it at first but they are giving up on stocks in droves and looking at ccommodities. In a twisted way that is good news because the bear market will be over when the small speculator has left the party.
 
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