NITE

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Deephaven gains will boost Knight profit: analyst
Hedge fund firm had 'stellar' fourth quarter, Sandler O"Neill's Miller says




SAN FRANCISCO (MarketWatch) -- A "stellar" fourth quarter by Deephaven Capital Management will likely boost earnings of broker Knight Capital Group, which owns the $4 billion hedge fund firm, according to a report Wednesday by Sandler O'Neill analyst Betsy Miller.
Deephaven's event driven fund, its largest, returned roughly 2% in December, while its market neutral fund gained 2.7%, the analyst noted. That probably left Deephaven's hedge funds up roughly 6.5% overall during the fourth quarter.
In addition to annual management fees, hedge funds charge performance fees, which are usually 20% or more of annual portfolio gains. When returns are strong, that generates big profits for hedge fund owners.

21.48, +0.62, +3.0%) has contracts with Deephaven executives Colin Smith, Shailesh Vasundhra and Matthew Nunn that allow the broker to share roughly half to a quarter of the hedge fund firm's pre-tax earnings before profit sharing.
Fourth-quarter gains by Deephaven should add between 20 cents a share and 22 cents a share to Knight's earnings from that period, Sandler O'Neill's Miller said. During the third quarter, Deephaven's net return of 4.9% generated earnings per share of approximately 13 cents, she noted.
Miller lifted her quarterly profit estimate for Knight to 38 cents a share from 32 cents a share and her full-year estimate to $1.40 a share from $1.34 a share.
She reiterated her buy rating and increased her price target to $23 from $22 due to the effect of higher assets at Deephaven on her sum-of-the-parts valuation of Knight.
Knight is scheduled to release earnings on Jan. 18.
Knight shares slid 10 cents to $20.42 during afternoon trading on Wednesday. 
Alistair Barr is a reporter for MarketWatch in San Francisco.

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• Knight Capital Group, Inc. Earnings Call scheduled for Thu, Jan 18
CCBN (Wed 3:10pm) 

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Let's talk about night moves......."Gotta love 'em!" ,
as it is stated in the thread...by basonista...the Technical Analysis Board.
Located here....... http://www.3stocksonfire.org/trading/index.php?topic=4712.0

Ascending Triangle (continuation) Pattern...
Above the 13, 50 and 200-day MA.
May come back to close that gap..


52wk Range: 13.75 - 21.78
Volume: 2,531,466
Avg Vol (3m): 1,662,980

Technicals
Last Price Quote is:
3.33%above 13-day MA
5.82%above 50-day MA
RS Rating: 80 

Fundamentals
Key Data:
Market Cap (M): $1,800.87 
P/E Ratio: 12.86 
PEG Ratio: 0.847826 
Next Earnings: 07/18/2007
Last Analyst Rating: Market Perform

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Pre Market Mover.......

KNIGHT CAPITAL GROUP (NasdaqGS:NITE)   

Pre-Market: Last Price $17.45  +$3.44 or (+24.55%) as of 8:05AM ET on 08/13/07

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Talk about some nite moves.......
Looks ready to pop out of that Symmetrical Triangle (continuation) pattern.


52wk Range: 11.50 - 18.49
Volume: 1,724,482
Avg Vol (3m): 2,528,920
Market Cap: 1.63B
P/E (ttm): 14.20
EPS (ttm): 1.21

Technicals
Last Price Quote is:
3.44%above 13-day MA
6.09%above 50-day MA
RS Rating: 93 

Fundamentals
Key Data:
Market Cap (M): $1,511.53 
P/E Ratio: 12.81 
PEG Ratio: 0.846667 
Next Earnings: 04/16/2008
Last Analyst Rating: Mkt Perform