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Thursday, November 05, 2009
MF Global Swings To Loss And Plans Delaware Move
By Steve Goldstein
MarketWatch Pulse
LONDON -- Futures brokerage MF Global said it lost $16 million, or 13 cents a share in the fiscal second quarter, after earning $3.5 million in the year-earlier period. Revenue dropped to $252 million from $372.9 million. Stripping out one-items including gains on exchange memberships, stock compensation expense related to IPO awards, and severance charges, and it would have earned a penny a share. Analysts polled by FactSet expected earnings of 5 cents a share on sales of $280 million. It's also planning to move its domicile to Delaware from Bermuda.
Copyright © 2009 MarketWatch, Inc.
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