GAIN Capital results muted by lack of fx volatility


GAIN Capital (GCAP -15.8%) tumbles as the lack of action in currency markets leads to a big Q1 earnings miss.

CEO Glenn Stevens: "Trading conditions ... resulted in a challenging quarter for our retail OTC business, which muted our overall Q1 financial results."

From the conference call (transcript): On page 5 of the presentation slides is the "'picture worth 1,000 words," says Stevens. It shows the steep downward trend in currency volatility over the past 5 years, a trend - says management - that has not broken in April (though Stevens says April at GCAP was not nearly as weak as that reported at FXCM).

For now, management is focused on acquisitions (and synergies from) and diversification of revenue streams.

Previously: GAIN Capital Holdings misses by $0.12, misses on revenue

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs