Why Leucadia National (LUK) Stock Closed Up This Afternoon

NEW YORK (TheStreet) -- Shares of Leucadia National Corp. (LUK) closed higher by 1.41% to $26.53 on Tuesday after the holding company announced its largest business, Jefferies Group LLC (JEF), reported a 55% rise in quarterly profit for the 2014 second quarter.

For the most recent quarter the securities firm reported net earnings of $61.3 million, compared to $39.5 million for the year ago quarter.

Net revenue increased 9.8% to $723 million, from $658 million for the 2013 second quarter.

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