(January 19, 2012) Shares of Knight Capital Group Inc. (NYSE: KCG), a Jersey City, New Jersey-based company, are soaring in trading today. At last check, the Knight Capital stock was trading 11.22% higher at $13.18 on above average volume of 3.49 million.
Knight Capital shares are soaring in trading today after the company announced its fourth-quarter financial results. For the fourth quarter of 2011, Knight Capital reported consolidated earnings of $0.43 per diluted share. The company’s consolidated revenue for the quarter rose 32% to $341.3 million.
Knight Capital’s Market Making revenue for the quarter rose 69% on a year-over-year basis to $187.4 million. Thomas M. Joyce, Chairman and CEO of Knight Capital, said that in the fourth quarter of 2011, the company produced strong financial results. Joyce said that consolidated revenue and pre-tax earnings rose considerably year-over-year despite a decline in market conditions as the quarter progressed.
Joyce also said that Market Making performed exceptionally well and again showed the ability to adapt to the trading environment and deliver results. He added that while the fourth quarter was not without its challenges, the contribution from Electronic Execution Services increased and the company worked to improve profitability across products and services.
About Knight Capital Group Inc.: Knight Capital Group Inc. is a global financial services firm.
- The Knight Capital Group stock has a 52-week range of $10.25-$14.72.
- The stock trades on a daily average volume of 1 million.
- The stock is currently trading above its 50-day and 200-day moving averages, which is a bullish signal.
- The stock’s MACD has crossed the signal line on the upside and is also above the zero-line, which are strong bullish signals.
Knight Capital Group announced its fourth-quarter financial results. The company’s shares are soaring following the announcement.