Unexpected Profit For The Jefferies Group (JEF)

Shares of Jefferies Group Inc. JEF surged $ 1.72, or 7.5%, to $24.59 before closing at $24.17 on Tuesday. The sudden increase was mainly due to stronger-than-expected second-quarter results. Jeffries’ profit has increased by 37% to $85 million while its revenue rose to $670 million. The company’s investment banking division revenues jumped 112% to a record $256 million. According to Barron’s, the stock even has the potential to go up from here because of robust performance and a positive future outlook.