MF Global Holdings (MF) Reports Fifth Straight Loss

Futures and options broker MF Global Holdings Ltd MF on Thursday morning released financial results that missed Wall Street expectations. MF Global Holdings Ltd reported that it narrowed its fiscal 4th quarter net loss to $96.5 million, or 78 cents per share, from a loss of $119.3 million, or 98 cents per share, a year earlier. Excluding special items, the loss came in at 17 cents per share. The company's revenue fell to $240.5 million, down from $257.1 million a year earlier. A poll of analysts conducted by Thomson Reuters, showed an average Wall Street estimate of expected earnings of 1 cent per share. The company said that following its fifth consecutive quarterly loss it plans to reduce its staff by 10% to 15%. The closing price of MF Global Holdings Ltd on Wednesday was $8.12 per share.