Oct. 22, 2014, 5:34 PM
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Jul. 3, 2014, 7:38 AM
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May 1, 2014, 7:09 AM
Apr. 30, 2014, 10:19 AM
Apr. 16, 2014, 7:57 AM
- Analyst Steven Chubak cashes in his chips on his January "Reduce" call on Greenhill (GHL) after a near-20% decline in the stock. While some of his initial concerns - rich valuation, lagging market share growth, and too-high expectations - remain, the current price, dividend support, and an improving Q2 backlog make for a more balanced risk/reward situation.
- "While we believe GHL remains a compelling relative short vs. peers (LAZ, EVR), with little absolute downside at current levels, we are upgrading to Neutral, with our price target unchanged at $49."
Apr. 1, 2014, 10:50 AM
- Extrapolating Q1 dealmaking to the full year, global M&A activity in 2014 could put in its best performance since 2007, according to Bloomberg. Hedgeye's Jonathan Casteleyn notes European activity is up 60% from last year and those investment banks poised to benefit the most from that are Lazard (LAZ +0.1%) and Greenhill (GHL).
Mar. 26, 2014, 9:51 AM
- Among the movers in the financial sector in the early-going following sell-side moves:
- Lazard (LAZ +1.7%) is boosted to a Buy at Nomura on favorable organic growth trends and market share gains in its advisory business.
- Carlyle Group (CG +5.1%) is upgraded to a Buy at UBS, which cites the push into retail offerings and the significant win with the hiring Michael Cavanagh from JPMorgan. See also: Carlyle eyeing traditional asset manager purchase as it seeks a higher multiple.
- Yadkin Financial (YDKN -1.6%) is lower after KBW rings the register on its Outperform rating.
Feb. 25, 2014, 3:18 PM
- Today's presentation by JPMorgan (JPM -1.6%) Corporate & Investment Bank co-CEOs Mike Cavanagh and Daniel Pinto is taking a slice out of Goldman Sachs (GS -1.9%) and Morgan Stanley (MS -2.2%), with Pinto talking about a continuing slowdown in markets activity thus far in 2014.
- "It's just weather," says Jamie Dimon, commenting on the tough start to the year - not necessarily blaming the weather, but pointing out the passing nature of such trends.
- Not discussed today is a WSJ report on the unexpected departure of the bank's chief compliance officer, Cindy Armine, after just about a year on the job. She's apparently moving to First Data Corp, run by former JPMorgan exec Frank Bisignano, who's recruited a number of former colleagues since exiting the bank in April. Armine's move is just the latest in a line of high-profile exits from JPMorgan. Her role will be filled on an interim basis by Lou Rauchenberger, chief administrative officer for the corporate and investment bank.
- Some other IBs: Greenhill (GHL -0.8%), Evercore (EVR -1.1%), Lazard (LAZ -0.6%)
- Earlier investor day coverage
Feb. 5, 2014, 7:05 AM
Feb. 5, 2014, 12:05 AM
LAZ vs. ETF Alternatives
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm. It provides crafting solutions to the complex financial and strategic challenges around the world, including corporations, governments and individuals.
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