MF Global stock down 35%

Company now expecting $360-$390 million in quarterly revenue vs the $550 million analysts were expecting.

Company says it is now expecting .17 cents per share vs the .33 cents per share that the Street was looking for.

Also selling $300 million in convertible securities to help pay off a bridge loan.

Client assets at $15.4 billion as of the end of May vs $15.3 billion at the end of March.

Doesn't look like anyone has pulled any money out.
 
fwiw, I am friends with a guy who had been working for Refco through all the Bullshit, and became a Man guy after the collapse..
Recently, he bailed on them and went to work for another firm because he thought that Man was going down the exact same road as Refco...
He's a sharp guy and he's prolly right..

Man - different name, same bullshit
 
In March, it was easy to dismiss the MF Global share price plunge due to Bear Stearns contagion fears.

The key difference today is that MF Global has some clear problems of its own.

S&P and Moodys both have MF on watch negative

Quote from PohPoh:

Not yet...
See Refco..
More...
 
Quote from Landis82:

I doubt that MF Global will go the way of Refco. Highly doubt that. MF is still making money.
More...

It's amazing how some institutions (individual investors too) will take a big risk to try to capture a few more basis points of yield...
 
Quote from Landis82:

I doubt that MF Global will go the way of Refco. Highly doubt that. MF is still making money.
More...

Refco was making plenty of money too when they went tits up..
It's not a money making thing..
it's a 'scumbag cunt liar filthrag corporate scheme' thing..
 
Quote from PohPoh:

fwiw, I am friends with a guy who had been working for Refco through all the Bullshit, and became a Man guy after the collapse..
Recently, he bailed on them and went to work for another firm because he thought that Man was going down the exact same road as Refco...
He's a sharp guy and he's prolly right..

Man - different name, same bullshit
More...

for those with expertise on the Refco collapse, can you tell me what exactly was the straw that broke the camel's back? what were the mechanics of how the Refco collapse happened?
 
You must log in or register to reply here.
Back
Top