Wall Street not impressed with FXCM’s Q3


FXCM shares traded down 13% on Thursday after the company reported its results for the third quarter. (And this on a day when the Dow Jones Industrial Average was up nearly 1%).

FXCM shares now sit at $9.96, or 29% below FXCM’s IPO price of $14 per share last December.

Reasons given by those covering the company on Wall Street for the less-than-enthusiastic response to FXCM’s Q3 include:

  • although decent, results were below analysts’ expectations for net profit in the quarter.
  • negative guidance going foward.
  • weak number of accounts added.
  • commentary about expenses on the company’s investor conference call.
 

 

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Wall Street not impressed with FXCM's Q3

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