More on Jefferies (JEF): It shrank its balance sheet by nearly 25%, reducing leverage to 9.9X...

|By:, SA News Editor

More on Jefferies (JEF): It shrank its balance sheet by nearly 25%, reducing leverage to 9.9X from 12.9X. The firm reports tangible common book value of $14.40/share (yesterday's close $11.80), and declares a quarterly dividend of $0.075. "Competitive and legislative forces continue to evolve in ways that favor our client-focused model." Shares +6.5% premarket.