* Q4 adj. loss $0.41/shr: Thomson Reuters I/B/E/S
* Q4 est. loss $0.19/shr: Thomson Reuters I/B/E/S
* Total expenses rise 59 pct
* AUM falls 26 pct
* Shares fall nearly 10 pct
March 2 Cowen Group Inc (COWN.O), the
investment bank taken over by hedge fund Ramius LLC in
November, posted a wider-than-expected quarterly loss, hurt by
rise in expenses and lower assets under management, sending its
shares down 10 percent.
Assets under management fell 26 percent to $7.85 billion on
Jan. 1, 2010, from $10.57 billion at Dec. 31, 2008.
For the fourth quarter, net loss attributable to
shareholders was $23.4 million, or 46 cents a share, compared
with a loss of $76.3 million, or $2.03 a share, a year ago.
Total revenue rose to $60.4 million, from $27.3 million a
The company posted an adjusted loss of 41 cents a share
while analysts on average had expected a loss of 19 cents a
share, on revenue of $64.50 million, according to Thomson
Total expenses rose 59 percent to $81.7 million. Employee
compensation and benefits more than doubled to $45.7 million.
Shares of the company were trading down 7 percent at $5.10
in morning trade Tuesday. They touched a low of $4.97 earlier
in the session.
(Reporting by Jochelle Mendonca in Bangalore; Editing by