This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
NEW YORK --
Knight Capital Group(KCG - Get Report) is discussing a possible rescue involving
Getco and other investors, according to a report.
Under the plan being discussed, TD Ameritrade and Getco would be the primary investors in a consortium of more than six entities that would provide a total of $400 million in capital to Knight,
The Wall Street Journal reported.
A Knight representative declined to comment, the
Knight, the Jersey City, N.J-based market maker, last Wednesday suffered a software glitch that caused it to send out erroneous trading orders. On Thursday, the company announced it had suffered a $440 million pretax loss as a result.
Under the consortium plan, the investors would purchase debt that would convert into stock at $2.50 a share, the
Journal report said.
Jefferies(JEF) also is involved in setting up the arrangement, the report said.
Knight in Talks on Potential Rescue: ReportChesapeake Energy(CHK - Get Report) is expected by analysts Monday to post fiscal third-quarter earnings of 8 cents a share on revenue of $2.5 billion.
TysonTSN(TSN - Get Report), the meat and chicken processor, is expected Monday to post a profit of 55 cents a share on revenue of $8.75 billion.
Earnings are also expected Monday from
The U.S. attorney's office in Los Angeles is investigating whether
Las Vegas Sands(LVS - Get Report) violated money-laundering laws by not reporting money transfers to its casinos from two big gamblers, according to the
Las Vegas Sands Target of Federal Probe: ReportTeva Pharmaceutical(TEVA), the Israeli generic drugmaker, is being investigated by the
Securities and Exchange Commission for possible violations of a U.S. antibribery law.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: