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PJC

Piper Jaffray

$75.05

-1.95 (-2.53%)

16:56
12/22/16
12/22
16:56
12/22/16
16:56

Piper Jaffray sees $75M-$95M impairment charge on pre-tax basis

On December 21, Piper Jaffray Companies concluded that it will be required to record a noncash impairment charge to reduce the carrying value of the goodwill associated with the Company's Asset Management segment. The Company reached this conclusion in connection with its annual impairment testing of goodwill. The Company's Asset Management segment has experienced net outflows of assets under management during its fiscal year ending December 31, 2016. Company management believes that these net outflows are the result of an extended cycle of investors favoring passive investment vehicles over active management, combined with certain investment strategies having performance below their benchmarks. As a result of the decline in assets under management, management fees as well as the profitability of our Asset Management segment have declined since the end of the Company's previous fiscal year. The Company estimates that the impairment charge will be in the range of $75 million to $95 million on a pre-tax basis. The impairment will not result in any current or future cash expenditures.

PJC Piper Jaffray
$75.05

-1.95 (-2.53%)

04/15/16
SDLR
04/15/16
DOWNGRADE
SDLR
Hold
Piper Jaffray downgraded to Hold due to valuation at Sandler O'Neill
Sandler O'Neill analyst Mike Adams downgraded Piper Jaffray to Neutral from Buy citing year-to-date outperformance and maintained his $49 price target on shares.

TODAY'S FREE FLY STORIES

RVLT

Revolution Lighting

$6.82

-0.03 (-0.44%)

07:42
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Revolution Lighting awarded DoD contract »

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FOLD

Amicus

$12.60

0.31 (2.52%)

, IRWD

Ironwood

$14.92

0.06 (0.40%)

07:42
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Amicus

$12.60

0.31 (2.52%)

IRWD

Ironwood

$14.92

0.06 (0.40%)

OTIC

Otonomy

$19.35

-0.1 (-0.51%)

SRPT

Sarepta

$37.43

0.72 (1.96%)

RXDX

Ignyta

$9.80

0.1 (1.03%)

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CSVI

Computer Services

$46.50

0.45 (0.98%)

07:41
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Computer Services announces retirement of president R. Stanley Eckenberg »

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ROIC

Retail Opportunity

$20.14

0.09 (0.45%)

07:40
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Retail Opportunity rating change  »

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BABA

Alibaba

$159.50

1.75 (1.11%)

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AAPL

Apple

$160.94

-0.68 (-0.42%)

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Apple Watch may not support voice calls at launch, AI reports »

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WMT

Wal-Mart

$80.98

0.21 (0.26%)

07:35
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TDOC

Teladoc

$30.05

-1.15 (-3.69%)

07:35
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AERI

Aerie Pharmaceuticals

$52.20

-0.2 (-0.38%)

07:35
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    Feb

BABA

Alibaba

$159.50

1.75 (1.11%)

, MU

Micron

$30.69

1.01 (3.40%)

07:35
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Unusual call flow in option market yesterday »

Notable call activity was…

BABA

Alibaba

$159.50

1.75 (1.11%)

MU

Micron

$30.69

1.01 (3.40%)

FCX

Freeport McMoRan

$14.77

0.8 (5.73%)

VALE

Vale

$10.10

0.32 (3.27%)

RIG

Transocean

$7.58

-0.33 (-4.17%)

MPC

Marathon Petroleum

$51.06

-0.83 (-1.60%)

COTY

Coty

$19.67

0.11 (0.56%)

PAGP

Plains GP Holdings

$20.35

-0.46 (-2.21%)

ETSY

Etsy

$15.60

-0.04 (-0.26%)

FOLD

Amicus

$12.60

0.31 (2.52%)

03/08/13
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  • 06

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REG

Regency Centers

$65.52

0.46 (0.71%)

07:34
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07:34
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Regency Centers rating change  »

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COMM

CommScope

$32.85

0.01 (0.03%)

07:34
08/17/17
08/17
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CommScope rating change  »

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  • 29

    Aug

MSG

Madison Square Garden

$217.42

1.33 (0.62%)

07:33
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Earnings
MSG reports Q4 EPS ($3.58), may not compare to consensus ($1.39) »

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  • 17

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ARAY

Accuray

$4.00

-0.1 (-2.44%)

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  • 22

    Aug

AMOV

America Movil, also tag AMX

$18.51

-0.07 (-0.38%)

, AMX

America Movil, also tag AMOV

$18.82

0.22 (1.18%)

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AMOV

America Movil, also tag AMX

$18.51

-0.07 (-0.38%)

AMX

America Movil, also tag AMOV

$18.82

0.22 (1.18%)

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GDEN

Golden Entertainment

$21.41

0.23 (1.09%)

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PBR

Petrobras

$8.65

0.06 (0.70%)

, CBI

CB&I

$9.97

-1.22 (-10.90%)

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Unusual put flow in option market yesterday »

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PBR

Petrobras

$8.65

0.06 (0.70%)

CBI

CB&I

$9.97

-1.22 (-10.90%)

URBN

Urban Outfitters

$19.76

2.94 (17.48%)

CL

Colgate-Palmolive

$71.93

0.13 (0.18%)

AXON

Axovant Sciences

$21.80

-0.83 (-3.67%)

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  • 18

    Aug

CSCO

Cisco

$32.34

0.25 (0.78%)

07:28
08/17/17
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Cisco analyst commentary  »

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  • 06

    Sep

LB

L Brands

$38.95

0.5 (1.30%)

07:28
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  • 17

    Aug

CSCO

Cisco

$32.34

0.25 (0.78%)

07:28
08/17/17
08/17
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07:28
Recommendations
Cisco analyst commentary  »

Cisco 'slowly moving…

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  • 06

    Sep

CCL

Carnival

$68.87

0.16 (0.23%)

07:28
08/17/17
08/17
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07:28
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Carnival analyst commentary  »

Carnival price target…

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QTNA

Quantenna Communications

$17.79

-0.23 (-1.28%)

07:27
08/17/17
08/17
07:27
08/17/17
07:27
Conference/Events
Quantenna Communications management to meet with Deutsche Bank »

Meeting to be held in San…

03/08/13
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  • 17

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    Sep

  • 08

    Nov

MOH

Molina Healthcare

$56.78

-0.25 (-0.44%)

07:27
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08/17
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07:27
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Molina Healthcare rating change  »

Molina Healthcare…

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PDCO

Patterson Companies

$37.29

0.54 (1.47%)

, HSIC

Henry Schein

$170.31

2.37 (1.41%)

07:26
08/17/17
08/17
07:26
08/17/17
07:26
Recommendations
Patterson Companies, Henry Schein analyst commentary  »

Patterson Companies price…

PDCO

Patterson Companies

$37.29

0.54 (1.47%)

HSIC

Henry Schein

$170.31

2.37 (1.41%)

03/08/13
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  • 24

    Aug

  • 18

    Sep

NOV

National Oilwell

$29.94

-0.45 (-1.48%)

07:23
08/17/17
08/17
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07:23
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National Oilwell rating change  »

National Oilwell upgraded…

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  • 29

    Aug

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