Long Position on LAZ @ $46.74 on 3/27/2014 (Rumor)

Cup & Handle on LAZLazard Ltd. (LAZ) operates as a financial advisory and asset management firm.

The company operates in two segments, Financial Advisory and Asset Management.

The Financial Advisory segment offers various financial advisory services on mergers and acquisitions, and other strategic matters, as well as on restructurings, capital structure, capital raising, and other financial matters. The Asset Management segment provides investment solutions and investment management services in equity and fixed income strategies; and alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries, and private clients. The company serves corporations, governments, institutions, partnerships, and individual clients. It operates from 41 cities across 26 countries in Europe, North America, Asia, Australia, the Middle East, and Central and South America. 

Bloomberg reports that Lazard Capital Markets LLC, the brokerage spun out from from Lazard Ltd. (LAZ) nine years ago, is winding down. The firm, controlled by current and former Lazard employees, is reviewing options that could include a sale of its prime brokerage, securities lending, and convertible bonds units, said Bloomberg sources. After failing to find a buyer for the whole business, the New York-based firm has been selling off pieces, including its fixed-income business, which was acquired by Guggenheim Partners LLC, one person said. In October, FBR & Co. said it acquired some research, sales and trading operations -- totaling about 29 staff -- from Lazard Capital. LAZ still is a larger shareholder of Lazard Capital. As the deal is expected to be announced soon, LAZ should break out of its current bullish "cup and handle."

52-Week Trading Range: $30.63 - $48.70

Entry Point: $46.74

Stop Loss: $44.41

Target Price: $51.41

Updates

5/1/2014 9:37:08 AM

We are closing LAZ position at $48.15 after it failed to reach our target price in 30 days or less!

Position closed on 5/1/2014 at price of $48.15 with a 3.02% gain in 35 days.

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