Is FXCM a buy? - Seeking Alpha

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Tuesday, May 7, 6:33 AM FXCM (FXCM): Q1 EPS of $0.23 in-line. Revenue of $122.9M (+20% Y/Y) misses by $4.7M. (PR) Comment! [Earnings, Breaking News, Financials]
Friday, April 26, 4:01 PM Gain Capital Holdings (GCAP -6.6%) falls after FXCM withdraws its acquisition proposal. GCAP's acquisition of Global Futures and Forex consumed enough cash to "fundamentally impact the balance sheet and capital synergies that were an important driver of our proposal," says FXCM CEO Drew Niv. The merger would have combined two of the largest U.S.-based players in online currency trading. Comment! [M&A, On the Move]
Tuesday, April 9, 12:40 PM FXCM's (FXCM +2.3%) bid for Gain Capital (GCAP +26%) would merge two of largest U.S.-based players in online FX trading, as FXCM pushes for organic growth in an industry that has grown rapidly over the past decade but is now challenged by tighter regulation and waning profits. Retail trading currently accounts for about 6% of the $4T per day currency market, and FXCM reported earlier today that its retail and institutional volumes fell in March on both a Y/Y and M/M comparisons. Comment! [Financials, M&A, On the Move]
Tuesday, April 9, 2:07 AM FXCM (FXCM) offers to acquire fellow online forex trading platform Gain Capital Holdings (GCAP) for $210.4M in stock, with the offer of $5.35/share representing a premium of 25% on Gain's closing price of $4.27 yesterday. FXCM is also willing to include a cash option of up to $50M rather than stock. FXCM expects the deal to be accretive to earnings by next year, excluding restructuring costs. (PR) Comment! [Financials, M&A]
Thursday, March 7, 6:32 AM FXCM (FXCM): Q4 EPS of $0.13 misses by $0.02. Revenue of $108.1M (-1% Y/Y) misses by $2.58M. (PR) Comment! [Earnings, Breaking News, Financials]
Thursday, January 17, 11:29 AM Investors are starting to come into equities, says Michael Price, as they realize valuations compared to bonds are so much better. Price's real talent lies not in macro calls, but in value stocks, and he's a big fan of McGraw-Hill (MHP), particularly the S&P side once it's split off from the education business. Another pick is FXCM, where trading activity is picking up and higher interest rates could really start to boost earnings. 2 Comments [Quick Ideas]
Thursday, November 8, 2012, 10:27 AM FXCM Inc. (FXCM) declares $0.06/share quarterly dividend, in line with previous. For shareholders of record Dec. 19. Payable Dec. 31. Ex-div Dec. 17. (PR) Comment! [Dividends]
Thursday, November 8, 2012, 6:34 AM FXCM Inc (FXCM): Q3 EPS of $0.17 beats by $0.03. Revenue of $114.9M (+5% Y/Y) beats by $8M. (PR) Comment! [Earnings, Financials]
Thursday, August 9, 2012, 6:35 AM FXCM (FXCM): Q2 EPS of $0.11 misses by $0.03. Revenue of $91.7M (-11% Y/Y) beats by $2M. (PR) Comment! [Earnings, Financials]
Wednesday, May 9, 2012, 6:45 AM FXCM (FXCM): Q1 EPS of $0.17 misses by $0.01. Revenue of $102.6M (+8.3% Y/Y) misses by $0.6M. (PR) Comment! [Earnings, Financials]
Thursday, March 15, 2012, 10:01 AM FXCM (FXCM +2.9%) catches a bid after being upgraded to Buy at Citigroup, citing a boost in institutional trading and increasing deal probability amid industry consolidation. The firm also raises its price target to $15 from $10. Comment! [Financials, On the Move]
Wednesday, March 14, 2012, 1:46 PM FXCM rises 14.4% after soundly beating estimates - the forex broker's Q4 revenue of $108.8M was well ahead of the $105.2M figure it provided in a preannouncement just 2 weeks ago. In addition, the company reported its momentum remained strong in February (the second month of Q1), with retail trading volume rising 17% M/M, and institutional trading volume rising 16%. (PR) Comment! [Financials, Earnings, U.S. Economy]
Wednesday, March 14, 2012, 7:19 AM FXCM (FXCM): Q4 EPS of $0.28 beats by $0.11. Revenue of $108.8M (+9.8% Y/Y) beats by $7M. (PR) Comment! [Earnings, Financials]
Wednesday, February 29, 2012, 5:34 PM FXCM +5.7% AH after preannouncing Q4 revenue of $105.2M, above a $101.5M consensus. The forex broker, which will deliver its Q4 report on March 14, also says its institutional customer trading volume rose 125% Y/Y to $429B, while its retail trading volume rose 16% to $972B. (previously) Comment! [Financials, On the Move]
Wednesday, February 15, 2012, 9:05 AM Premarket gainers: BPAX +51%. IPAS +21%. BCRX +14%. WCG +11%. TSEM +9%. CMCSK +8%. EGLE +7%. CLWR +7%. CMCSA +6%. ANF +6%. HIG +6%. VTG +5%. TTM +4%. K +3%. BCS +3%. DANG +3%. YGE +3%. DMND +3%. MET +3%. ACAS +3%. GNOM +3%. BZH +3%. COF +3%. TEVA +3%. MLU +3%.
Losers: VG -12%. NBG -9%. RENN -8%. NZGA -6%. OC -5%. FXCM -3%. ALU -3%. Comment! [On the Move]
Tuesday, February 14, 2012, 5:53 PM FXCM drops 4% AH after reporting retail customer trading volume of $298B (+15% Y/Y) and institutional customer trading volume of $109B (+39% Y/Y). Retail tradeable accounts rose 1% Q/Q and 13% Y/Y, to 167.7K. Comment! [Financials, On the Move]

Intangible Valuation
$FXCM's bid for $GCAP is possibly too small it seems. For each $1 of equity value GCAP would get, it would give up $2.23. Wheres the value?
Apr 9, 10:01 AM
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freefdawatchlist
http://bit.ly/IBl85G Earnings before market open: AOL, ARIA, DF, DTG, FXCM, IHG, KELYA, M, SVNT, TEVA, TM, SODA
5/8/12
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Brian L. Wilson
Did FXCM blow up or did a central bank somewhere do something? I need to know why USD/JPY shot up like 2,000 pips in 10 seconds
10/30/11
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addycruise_1: JPY intervention... still not confirmed yet
10/30/11
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Brian L. Wilson: Ah yeah finally saw the news just now. It's about time if they really do it, the short USD/JPY has become very crowded.
10/30/11
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diepwjulius
Just tried FXCM's demo, lost $2000 in a few minutes. Anyone else doing that CNBC contest?
9/6/11
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intradayta
Great Call on $FXCM. Rips right to $10: http://bit.ly/lrXARZ Check my previous analysis here: http://bit.ly/iqU43p16 now taking profits.
5/27/11
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LATEST REPLIES

Brian L. Wilson
Did FXCM blow up or did a central bank somewhere do something? I need to know why USD/JPY shot up like 2,000 pips in 10 seconds
10/30/11
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addycruise_1: JPY intervention... still not confirmed yet
10/30/11
• !Report Abuse
Brian L. Wilson: Ah yeah finally saw the news just now. It's about time if they really do it, the short USD/JPY has become very crowded.
10/30/11
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140 characters

Sector: Financial

Industry: Investment Brokerage - National

Country: United States

FXCM Inc. (NYSE:FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide.

At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.

FXCM FXCM Inc.

FXCM

FXCM Inc.