But do I really need to see another article about how the Ferrari dealers in Silicon Valley have brought in extra inventory in anticipation of all the new millionaires? Or how Menlo Park and Palo Alto housing prices, which were already sky-high, are soaring even higher from all the new money? the analyst, Tracey Ryniec, wrote.

I cant wait for this week to be over so we can talk about some other companies.

Some of the venom online was directed at the Winklevoss twins, those rowing-happy Harvard kids who repeatedly have been suing for part of Facebook.

Dubbed the Winklevii in the film The Social Network, Cameron and Tyler Winklevoss are set to make millions off of Facebooks IPO despite the fact that some courts have rejected their claims that Zuckerberg stole their idea for his blockbuster website. They could make $228 million for their 6 million shares in the company, according to a CNNMoney gallery on Facebooks new billionaires.

At The New Yorker, Silvia Killingsworth writes that we all should give the Winklevii a bit of a break — especially since theyve been good sports about their anti-fame:

Sure, the Winklevii may sound a little cheesy finishing each others sentences — a well-enunciated mix of locker-room pep talk and well-worn entrepreneurial Web-2.0 jargon — and they will be subject to Al Gore-style Internet-invention jokes until the end of time. But whod have known theyd be such good sportsmen about it? In the movie, Cameron gets frustrated at one point and hollers. Screw it! Lets gut the frigging nerd! In real life, the twins seem to have become entirely content with chasing the nerd around the courts, and collecting their cut of the biggest tech IPO. in history.

Others are teasing CEO Mark Zuckerberg himself.

The comedian Andy Borowitz posted a fake letter from the 28-year-old to potential investors. It opens:

For years, youve wasted your time on Facebook. Now heres your chance to waste your money on it, too.

It ends like this:

One last thing: what will, I, Mark Zuckerberg, do with the $18 billion Im expected to earn from Facebooks IPO? Well, Im considering buying Greece, but that would still leave me with $18 billion. LOL. Friend me, Mark

On Thursday, more than 100 former NFL players filed a federal lawsuit in Atlanta claiming the league failed to protect its players from brain injuries linked to football-related concussions. They are among more than 1,000 former NFL players suing the league. The players say not enough was done to inform them about the dangers of concussions, and not enough is being done to take care of them today.

According to research at Virginia Tech, football players at the high school, college and professional levels are likely to sustain at least one impact equivalent to a severe car crash per game. And a study from the National Center for Injury Prevention found that 47 percent of high school football players say they suffer a concussion each season, with 35 percent of those reporting multiple concussions in a season. But most sports-related concussions — about 85 percent — go undiagnosed, according to the American College of Sports Medicine.

Silatolu and other current and former NFL players with area ties say they know how dangerous the sport can be. But the risks are worth it to them.

The human body can only take so much, said Greg Bishop of Lodi, who was an offensive lineman in the NFL for seven seasons. The greatest helmet in the world cant protect the brain from slamming into the side of your skull. You do that so many times, its going to cause issues.

Bishop, 41, has had a few concussions but said they werent serious. He has a bum hip that might need to be replaced some day, but he considers himself lucky not to have been more seriously injured during his career.

There are going to be negatives in everything, Bishop said. Overall, I think football is a tremendous lesson-type sport for boys to grow up and become men. I just think sports in general, especially team sports, are a great way to learn to deal with people.

Silatolu and Bishop were shocked, like most everyone, when NFL All-Pro linebacker Junior Seau committed suicide May 2, just two years removed from the league at age 43. Some pundits have suggested Seau was suffering from brain trauma — possibly chronic traumatic encephalopathy, a degenerative disease that mimics dementia — and shot himself in the chest so his brain could be studied after death. Seaus family recently agreed to donate his brain to researchers.

Silatolu said he cant think about the potential long-term damage he might suffer blocking some of the biggest, fastest and strongest athletes in the world.

Im going into the league like everybody else, Silatolu said. This has always been a part of my life. I really dont know anything else but football.

Silatolu has played football most of his life and has advanced to the highest level having not sustained any diagnosed concussions or major injuries.

In the NFL, youre getting paid the big bucks, he said. Injuries are a part of the game. Its on you if you want to pursue that career.

Silatolu said the leagues new protocol, where trainers are required to examine players on the sideline after big hits and sit them if they are concussed or show symptoms, and penalties, fines and suspensions for excessive hits are steps in the right direction. But he said players are conditioned to hit each other and play through pain.

Edison High and Cal product Lavelle Hawkins, whos preparing to enter his fifth season as a receiver with the Tennessee Titans, knows of former players struggling with various health issues related to football. But he cant worry about that now.

Football is a dangerous sport. Thats what we signed up for, said Hawkins, 25. I appreciate them trying to protect us, but some of the penalties theyre calling, its football. Youre going to get hit and youre going to get knocked out.

Hawkins said he never has been diagnosed with a concussion but recalls a few instances in high school when as a defensive back he blacked out momentarily after making a hit.

But I would still finish the game, he said. I was younger so I dont know if it affected me.

Hawkins former high school teammate and ex-New Orleans Saints running back and special teams standout Lynell Hamilton said head injuries are inevitable in football and other contact sports, such as boxing.

Its part of the game, said Hamilton, a member of the Saints from 2008-2011. As players in the NFL, we go out and understand what were getting ourselves into. In that respect, you know, it comes with the game.

Hamilton has had six surgeries to repair knee and ankle injuries. The 26-year-old free-agent believes his legs might give him more problems later in life than his brain.

As far as the head trauma, it doesnt really worry me at all, he said.

Bishop played football at Lodi High and Pacific before he spent six seasons with the New York Giants and one season with the Atlanta Falcons. He retired in 1999 at age 28. Bishop said he blocked Seau a few times when the San Diego Chargers and Giants met and called him one of the fastest and most aggressive linebackers he ever faced. Now, the Lodi resident is teaching and coaching football at his high school alma mater.

Bishop has three sons ages 11, 9 and 7. He said the oldest will play contact football in the fall, while the younger boys will play flag football. Bishop wants to be involved in coaching them to make sure they learn the fundamentals, which get lost at times these days, he said.

Bishop loves football and what its done for him. He believes its a great sport to teach discipline, teamwork and toughness. But if his boys decide they dont want to play, he wont object.

I want them to play a sport theyre passionate about, Bishop said.

Contact Sports Editor Bob Highfill at (209) 546-8282 or bhighfill@recordnet.com. Visit his blog at recordnet.com/sportsblog.

(PRWEB) May 19, 2012

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Every year or two, hundreds of these duty suspensions would be rolled into one big miscellaneous tariff bill #x2013; an MTB, in Capitol Hill parlance — and passed. Such legislation was so routine, it was approved by unanimous voice vote.

But like so much else in Washington these days, the commonplace has become controversial, and these targeted tax breaks have come under scrutiny.

While revenues from LED lamps in the commercial sector will rise
by 8.5% through 2021, to $2.7 billion, Pike Research forecasts, the
overall market for commercial lighting will peak at $54 billion in 2012
before contracting through the remainder of the decade, hitting about
$30 billion in 2021.

“It would be hard to imagine in todays world that technology will
not beat out tradition,” says senior analyst Eric Bloom. “The
commercial lighting industry will undergo a transformation over the next
10 years that will result in a significant drop in direct revenue from
unit sales. Lamp and luminaire manufacturers and others in
the value chain will have to rely on lighting controls and services to
offset the revenue and profit lost in this process.”

Internationally, the trend toward efficiency is highly correlated
with economic and infrastructure conditions. While Europe
and Asia are conservation-minded and open to government programs to
limit consumption, the United States is highly fragmented due to
state-driven codes and regional electric rate variations, and is
comparatively new to the concept of conservation. Much, but
not all of Africa, the Middle East, Latin America, and parts of Asia are
working toward developing adequate infrastructure and are lagging behind
in commercial lighting efficiency due to other higher priorities.

Pike Research’s report, “Energy
Efficient Lighting for Commercial Markets”, describes
the key factors that are influencing the market for energy efficient
lighting around the world: trends in energy codes, rebate and subsidy
programs, sustainability/green certifications, raw material supply
issues, geopolitical influences in developing and developed nations, and
more. The report describes the influence of industry
structure, key applications, and the many technology issues involved in
the decision to specify various lighting technologies. Comprehensive
unit and dollar forecasts are presented through 2021, segmented by
application, lamp type/LED, luminaires, and geographic region. An
Executive Summary of the report is available for free download on the
firm’s website.

Pike Research is a market research and consulting firm that
provides in-depth analysis of global clean technology markets. The
company’s research methodology combines supply-side industry analysis,
end-user primary research and demand assessment, and deep examination of
technology trends to provide a comprehensive view of the Smart Energy,
Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings
sectors. For more information, visit www.pikeresearch.com
or call +1-303-997-7609.

Every year or two, hundreds of these duty suspensions would be rolled into one big miscellaneous tariff bill #x2013; an MTB, in Capitol Hill parlance — and passed. Such legislation was so routine, it was approved by unanimous voice vote.

But like so much else in Washington these days, the commonplace has become controversial, and these targeted tax breaks have come under scrutiny.

The scrutiny has opened a rift among Republican lawmakers. They like tariff reductions as tax cuts, but some who favor a flatter income-tax system and a #x201C;level playing field#x201D; for businesses see miscellaneous tariff bills as congressional pork doled out to favored companies with lobbyists to push for the duty suspensions and campaign contributions for senators or representatives who get them.

Perhaps nowhere is the rift clearer than in South Carolina, a conservative bastion with seven of eight congressional seats held by Republicans.

Sen. Jim DeMint is known as Senator Tea Party, while Rep. Mick Mulvaney is a tea party favorite who joined Congress in the 2010 wave of conservative newcomers.

DeMint, a Greenville Republican, wants to limit lawmakers#x2019; role in obtaining the duty suspensions, which he views as another form of the spending earmarks he#x2019;s led colleagues to ban.

#x201C;Why must we erect needless obstacles and force businesses to hire lobbyists and grovel for attention from politicians just to be heard?#x201D; DeMint told McClatchy.

Mulvaney, an Indian Land Republican, disagrees with the junior senator from his state #x2013; and has let DeMint know it.

#x201C;I#x2019;ve had very candid conversations with Sen. DeMint,#x201D; Mulvaney said. #x201C;He#x2019;s trying to make the case why these are earmarks. I just don#x2019;t get it.#x201D;

DeMint and Sen. Claire McCaskill, a Missouri Democrat who#x2019;s waged her own battle against earmarks, are pushing legislation that would allow companies to seek duty relief directly from the International Trade Commission. Under the current system, the trade commission vets such requests after receiving them from members of Congress.

#x201C;We have a win-win, bipartisan solution that will result in more tariff suspensions, streamlines the process, ends the pay-to-play scheme, gives small businesses better access and still retains congressional authority,#x201D; DeMint said.

The DeMint-McCaskill measure would require Congress to pass legislation containing the duty reductions or removals the trade commission approved. It would retain the current $500,000 maximum for each tariff suspension, most of which last two or three years.

South Carolina#x2019;s senior senator, fellow Republican Lindsey Graham, said that while the DeMint-McCaskill bill had some merit, it might create other problems.

#x201C;Is it better to have unelected bureaucrats who are really not accountable to the voters make these decisions or is it better to have elected officials do the gate-keeping?#x201D; Graham said.

Instead of lawmakers trading votes among themselves, Graham said, transferring more power to the executive branch could lead to favor exchanges between a presidential administration and members of Congress.

ST. LOUIS, MO, May 09, 2012 (MARKETWIRE via COMTEX) –
Stifel Financial Corp.

/quotes/zigman/242086/quotes/nls/sf SF
-1.31%

Highlights for the three months ended March 31, 2012:

— Net revenues of $400.3 million.
— Net income of $34.8 million, or $0.55 per diluted share.
— Stockholders’ equity totaled $1.34 billion and book value per share
was $25.07.

Stifel Financial Corp.

/quotes/zigman/242086/quotes/nls/sf SF
-1.31%

today reported net income of $34.8
million, or $0.55 per diluted share, on net revenues of $400.3
million for the three months ended March 31, 2012, compared with net
income of $31.4 million, or $0.50 per diluted share, on net revenues
of $366.6 million for the first quarter of 2011. The company reported
net income of $27.0 million, or $0.43 per diluted share, on net
revenues of $356.9 million for the three months ended December 31,
2011.

"The first quarter of 2012 proved to be our second best quarter in
terms of net revenues, net income and diluted EPS. The overall
improvement in the economy positively impacted both our Global Wealth
Management and Institutional Group's businesses during the quarter,
particularly in investment banking and fixed income trading. During
the quarter, we continued to expand our retail platform as a result
of successful recruiting of financial advisors," commented Ronald J.
Kruszewski, Chairman, President and CEO of Stifel Financial.
"Increased levels of activity can be attributed to strong performance
of the equity markets, improving investor sentiment, lower
volatility, and increased risk taking as evidenced by improved
pricing and performance for new offerings. However, outside of a
major event or catalyst to move the markets, we remain cautious on
the outlook for the remainder of the year. That said, we continue to
believe we are well positioned to gain market share from the
dislocation in the marketplace and changing regulatory requirements."

----------------------------------------------------------------------------

Summary Results of Operations (Unaudited)
----------------------------------------------------------------------------
Three Months Ended
-----------------------------------------------
(in 000s) 3/31/12 3/31/11 % Change 12/31/11 % Change
--------- --------- -------- --------- --------
Net revenues $ 400,333 $ 366,613 9.2 $ 356,878 12.2
Net income $ 34,773 $ 31,398 10.7 $ 27,016 28.7
Earnings per share:
Basic $ 0.65 $ 0.60 8.3 $ 0.52 25.0
Diluted $ 0.55 $ 0.50 10.0 $ 0.43 27.9
Weighted average number of common shares
outstanding:
Basic 53,243 52,534 1.3 51,849 2.7
Diluted 62,669 63,179 (0.8) 62,695 --

----------------------------------------------------------------------------

Business Segment Results

----------------------------------------------------------------------------

Summary Segment Results (Unaudited)
----------------------------------------------------------------------------
Three Months Ended
-----------------------------------------------
(in 000s) 3/31/12 3/31/11 % Change 12/31/11 % Change
--------- --------- -------- --------- --------
Net revenues:
Global Wealth Management $ 248,348 $ 238,446 4.2 $ 224,569 10.6
Institutional Group 148,504 126,994 16.9 134,229 10.6
Other 3,481 1,173 196.8 (1,920) 281.3
--------- --------- -------- --------- --------
$ 400,333 $ 366,613 9.2 $ 356,878 12.2
--------- --------- -------- --------- --------
Operating contribution:
Global Wealth Management $ 69,178 $ 61,472 12.5 $ 62,872 10.0
Institutional Group 23,704 21,393 10.8 10,773 120.0
Other (33,628) (32,181) 4.5 (28,619) 17.5
--------- --------- -------- --------- --------
$ 59,254 $ 50,684 16.9 $ 45,026 31.6
--------- --------- -------- --------- --------

----------------------------------------------------------------------------

Global Wealth Management

For the quarter ended March 31, 2012, the Global Wealth Management
("GWM") segment generated pre-tax operating income of $69.2 million,
compared with $61.5 million in the first quarter of 2011 and $62.9
million in the fourth quarter of 2011. Net revenues for the quarter
were $248.3 million, compared with $238.4 million in the first
quarter of 2011, and $224.6 million in the fourth quarter of 2011.
The increase in net revenues from the first quarter of 2011 is
primarily attributable to an increase in net interest revenues and
investment banking revenues, as well as asset management and service
fees and principal transactions revenues, offset by a decrease in
commissions. The increase in net revenues from the fourth quarter of
2011 was primarily attributable to an increase in commissions and
principal transactions revenues, investment banking revenues and
asset management and service fees.

-- The Private Client Group reported record net revenues of $232.3
million, a 1% increase compared with the first quarter of 2011 and a
13% increase compared with the fourth quarter of 2011.
-- Stifel Bank reported net revenues of $16.0 million, an 80% increase
compared with the first quarter of 2011 and an 18% decrease compared
with the fourth quarter of 2011.

Institutional Group

For the quarter ended March 31, 2012, the Institutional Group segment
generated pre-tax operating income of $23.7 million, compared with
$21.4 million in the first quarter of 2011 and $10.8 million in the
fourth quarter of 2011. Net revenues for the quarter were $148.5
million, compared with $127.0 million in the first quarter of 2011
and $134.2 million in the fourth quarter of 2011. The increase in net
revenues from the first quarter of 2011 was primarily attributable to
an increase in capital raising and advisory fees, and an increase in
fixed income institutional brokerage revenues, offset by a decrease
in equity institutional brokerage revenues. The increase in net
revenues from the fourth quarter of 2011 was primarily attributable
to an increase in equity capital raising and equity and fixed income
institutional brokerage revenues, offset by a decline in equity
advisory fees.

Institutional brokerage revenues were $89.5 million, a 1% decrease
compared with the first quarter of 2011 and an 11% increase compared
with the fourth quarter of 2011.

-- Equity brokerage revenues were $44.2 million, a 16% decrease compared
with the first quarter of 2011 and a 9% increase compared with the
fourth quarter of 2011.
-- Fixed income brokerage revenues were $45.3 million, an 18% increase
compared with the first quarter of 2011 and a 14% increase compared
with the fourth quarter of 2011.

Investment banking revenues were $58.0 million, a 65% increase compared
with the first quarter of 2011 and an 11% increase compared with the
fourth quarter of 2011.

-- Equity capital raising revenues were $31.6 million, a 37% increase
compared with the first quarter of 2011 and a 212% increase compared
with the fourth quarter of 2011.
-- Fixed income capital raising revenues were $10.8 million, a 256%
increase compared with the first quarter of 2011 and an 18% decrease
compared with the fourth quarter of 2011.
-- Advisory fee revenues were $15.6 million, a 72% increase compared with
the first quarter of 2011, and a 46% decrease compared with the fourth
quarter of 2011.

Consolidated Compensation and Benefits Expenses

For the quarter ended March 31, 2012, compensation and benefits
expenses were $254.7 million, compared with $231.2 million in the
first quarter of 2011 and $228.7 million in the fourth quarter of
2011.

Compensation and benefits as a percentage of net revenues was 64% in
the first quarter of 2012 compared with 63% in the first quarter of
2011 and 64% in the fourth quarter of 2011. Transition pay, which
primarily consists of amortization of upfront notes, signing bonuses
and retention awards, as a percentage of net revenues was 5% in the
first quarter of 2012, consistent with the first and fourth quarters
of 2011.

Consolidated Non-Compensation Operating Expenses

For the quarter ended March 31, 2012, non-compensation operating
expenses were $86.4 million, compared with $84.8 million in the first
quarter of 2011 and $83.1 million in the fourth quarter of 2011.

Non-compensation operating expenses as a percentage of net revenues
for the quarter ended March 31, 2012 was 22% compared with 23% in the
first quarter of 2011 and 23% in the fourth quarter of 2011.

Provision for Income Taxes

The effective income tax rate for the quarter ended March 31, 2012
was 41% compared with 38% in the first quarter of 2011 and 40% in the
fourth quarter of 2011.

Statement of Financial Condition (Unaudited)

Total assets increased 21% to $5.5 billion as of March 31, 2012 from
$4.5 billion as of March 31, 2011. The increase is primarily
attributable to the growth of the company's bank subsidiary, which as
of March 31, 2012 had grown its assets to $2.6 billion from $1.8
billion as of March 31, 2011. As of March 31, 2012, Stifel Bank's
investment portfolio of $1.7 billion has increased 34% from March 31,
2011, with more than 99% of the investment portfolio comprised of
investment grade securities, of which more than 67% were
Government-Sponsored Enterprise guaranteed MBS or AAA-rated
investments. The company's broker-dealer subsidiary's gross assets
and liabilities, including trading inventory, stock loan/borrow,
receivables and payables from/to brokers, dealers and clearing
organizations and clients, fluctuate with business levels and overall
market conditions.

Total stockholders' equity as of March 31, 2012 increased $55.9
million, or 4%, to $1.34 billion from $1.29 billion as of March 31,
2011. Book value per share was $25.07 as of March 31, 2012 compared
to $24.32 as of March 31, 2011.

As of March 31, 2012, the company reported total securities owned and
investments at fair value of $2.2 billion, which included securities
categorized as Level 3 of $227.0 million. The company's Level 3
assets included auction rate securities and private equity and other
fixed income securities with fair values of $170.3 million and $56.7
million, respectively, as of March 31, 2012.

Conference Call Information

Stifel Financial Corp. will host its first quarter 2012 financial
results conference call on Wednesday, May 9, 2012, at 5:00 p.m.
Eastern time. The conference call may include forward-looking
statements.

All interested parties are invited to listen to the company's
Chairman, President, and CEO, Ronald J. Kruszewski, by dialing (800)
651-2240 and referencing conference ID #74559190. A live audio
webcast of the call, as well as a presentation highlighting the
company's results, will be available through the company's web site,

www.stifel.com . For those who cannot listen to the live broadcast, a
replay of the broadcast will be available through the
above-referenced web site beginning approximately one hour following
the completion of the call.

Company Information

Stifel Financial Corp.

/quotes/zigman/242086/quotes/nls/sf SF
-1.31%

is a financial services holding
company headquartered in St. Louis, Missouri that conducts its
banking, securities, and financial services business through several
wholly owned subsidiaries. Stifel clients are served through Stifel,
Nicolaus & Company, Incorporated in the U.S., through Stifel Nicolaus
Canada Inc. in Canada, and through Stifel Nicolaus Europe Limited in
the United Kingdom and Europe. The company's broker-dealer affiliates
provide securities brokerage, investment banking, trading, investment
advisory, and related financial services to individual investors,
professional money managers, businesses, and municipalities. Stifel
Bank & Trust offers a full range of consumer and commercial lending
solutions. Stifel Trust Company, N.A. offers trust and related
services. To learn more about Stifel Financial, please visit the
company's web site at
www.stifel.com .

Forward-Looking Statements

This earnings release contains certain statements that may be deemed
to be "forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements in this earnings release not
dealing with historical results are forward-looking and are based on
various assumptions. The forward-looking statements in this earnings
release are subject to risks and uncertainties that could cause
actual results to differ materially from those expressed in or
implied by the statements. Factors that may cause actual results to
differ materially from those contemplated by such forward-looking
statements include, among other things, the following possibilities:
the ability to successfully integrate acquired companies or the
branch offices and financial advisors; a material adverse change in
financial condition; the risk of borrower, depositor, and other
customer attrition; a change in general business and economic
conditions; changes in the interest rate environment, deposit flows,
loan demand, real estate values, and competition; changes in
accounting principles, policies, or guidelines; changes in
legislation and regulation; other economic, competitive,
governmental, regulatory, geopolitical, and technological factors
affecting the companies' operations, pricing, and services; and other
risk factors referred to from time to time in filings made by Stifel
Financial Corp. with the Securities and Exchange Commission.
Forward-looking statements speak only as to the date they are made.
Stifel Financial Corp. disclaims any intent or obligation to update
forward-looking statements to reflect circumstances or events that
occur after the date the forward-looking statements are made.

----------------------------------------------------------------------------
Summary Results of Operations (Unaudited)
Three Months Ended
----------------------------------------------------------------------------
(in 000s) 3/31/12 3/31/11 % Change 12/31/11 % Change
--------- --------- -------- --------- --------
Revenues:
Commissions $ 123,303 $ 155,786 (20.9) $ 123,737 (0.4)
Principal transactions 116,233 92,859 25.2 93,963 23.7
Investment banking 70,438 41,418 70.1 56,075 25.6
Asset management and
service fees 60,818 57,680 5.4 55,920 8.8
Other income 13,294 6,256 112.3 8,379 58.7
--------- --------- -------- --------- --------
Operating revenues 384,086 353,999 8.5 338,074 13.6
Interest revenue 25,257 18,856 33.9 25,220 0.1
--------- --------- -------- --------- --------
Total revenues 409,343 372,855 9.8 363,294 12.7
Interest expense 9,010 6,242 44.3 6,416 40.4
--------- --------- -------- --------- --------
Net revenues 400,333 366,613 9.2 356,878 12.2
--------- --------- -------- --------- --------

Non-interest expenses:
Compensation and benefits 254,704 231,166 10.2 228,743 11.3
Occupancy and equipment
rental 30,791 29,325 5.0 31,967 (3.7)
Communication and office
supplies 20,373 18,845 8.1 19,391 5.1
Commission and floor
brokerage 7,612 6,649 14.5 6,097 24.8
Other operating expenses 27,599 29,944 (7.8) 25,654 7.6
--------- --------- -------- --------- --------
Total non-interest
expenses 341,079 315,929 8.0 311,852 9.4

Income before income taxes 59,254 50,684 16.9 45,026 31.6
Provision for income
taxes 24,481 19,286 26.9 18,010 35.9
--------- --------- -------- --------- --------
Net income $ 34,773 $ 31,398 10.7 $ 27,016 28.7
========= ========= ======== ========= ========

Earnings per share:
Basic 0.65 0.60 8.3 0.52 25.0
Diluted 0.55 0.50 10.0 0.43 27.9

Weighted average number of common
shares outstanding:
Basic 53,243 52,534 1.3 51,849 2.7
Diluted 62,669 63,179 (0.8) 62,695 --
----------------------------------------------------------------------------

---------------------------------------------------------------------------
(in thousands, except per share data, employee and location amounts)
---------------------------------------------------------------------------
Key statistical
information: 3/31/12 3/31/11 % Change 12/31/11 % Change
------------ ------------ -------- ------------ --------
Book value per
share $ 25.07 $ 24.32 3.1 $ 25.10 (0.1)
Financial
advisors (1) 2,013 1,947 3.4 1,987 1.3
Full-time
associates 5,135 4,916 4.5 5,097 0.7
Locations 326 311 4.8 320 1.9
Total client
assets 127,192,000 115,284,000 10.3 119,362,000 6.6
---------------------------------------------------------------------------

(1) Includes 155, 160 and 154 independent contractors at March 31,
2012 and 2011 and December 31, 2011, respectively.

----------------------------------------------------------------------------

Global Wealth Management Segment
Summary Results of Operations (Unaudited)
Three Months Ended
----------------------------------------------------------------------------
(in 000s) 3/31/12 3/31/11 % Change 12/31/11 % Change
---------- ---------- --------- ---------- ---------
Revenues:
Commissions $ 91,023 $ 101,762 (10.6) $ 83,662 8.8
Principal
transactions 59,045 56,163 5.1 53,700 10.0
Asset management and
service fees 60,586 57,530 5.3 55,691 8.8
Net interest 17,647 11,169 58.0 17,602 0.3
Investment banking 12,470 6,312 97.6 4,015 210.6
Other income 7,577 5,510 37.5 9,899 (23.5)
---------- ---------- --------- ---------- ---------
Net revenues 248,348 238,446 4.2 224,569 10.6
---------- ---------- --------- ---------- ---------
Non-interest expenses:
Compensation and
benefits 143,757 142,586 0.8 125,053 15.0
Non-compensation
operating expenses 35,413 34,388 3.0 36,644 (3.4)
---------- ---------- --------- ---------- ---------
Total non-interest
expenses 179,170 176,974 1.2 161,697 10.8
---------- ---------- --------- ---------- ---------
Income before income
taxes $ 69,178 $ 61,472 12.5 $ 62,872 10.0
========== ========== ========= ========== =========

As a percentage of net
revenues:
Compensation and
benefits 57.9% 59.8% 55.7%
Non-compensation
operating expenses 14.2% 14.4% 16.3%
Income before income
taxes 27.9% 25.8% 28.0%

----------------------------------------------------------------------------

----------------------------------------------------------------------------

Stifel Bank & Trust (Unaudited)
Key Statistical Information
----------------------------------------------------------------------------
(in 000s, except
percentages) 3/31/12 3/31/11 % Change 12/31/11 % Change
---------- ---------- --------- ---------- ---------
Other information:
Assets $2,611,828 $1,787,531 46.1 $2,275,729 14.8
Investment
securities 1,673,866 1,253,953 33.5 1,403,522 19.3
Retained loans, net 657,081 396,244 65.8 631,173 4.1
Loans held for sale 141,136 30,866 357.3 131,754 7.1
Deposits 2,357,912 1,625,890 45.0 2,071,738 13.8

Allowance as a
percentage of loans 0.87% 0.63% 0.83%
Non-performing
assets as a
percentage of total
assets 0.11% 0.12% 0.14%

----------------------------------------------------------------------------

----------------------------------------------------------------------------
Institutional Group Segment
Summary Results of Operations (Unaudited)
Three Months Ended
----------------------------------------------------------------------------
(in 000s) 3/31/12 3/31/11 % Change 12/31/11 % Change
---------- ---------- --------- ---------- ---------
Revenues:
Commissions $ 32,280 $ 54,025 (40.2) $ 40,076 (19.5)
Principal
transactions 57,188 36,696 55.8 40,263 42.0

Capital raising 42,363 26,046 62.6 23,331 81.6
Advisory fees 15,605 9,060 72.2 28,728 (45.7)
---------- ---------- --------- ---------- ---------
Investment banking 57,968 35,106 65.1 52,059 11.4
Other income (2) 1,068 1,167 (8.5) 1,831 (41.7)
---------- ---------- --------- ---------- ---------
Net revenues 148,504 126,994 16.9 134,229 10.6
---------- ---------- --------- ---------- ---------
Non-interest expenses:
Compensation and
benefits 94,024 77,187 21.8 89,497 5.1
Non-compensation
operating expenses 30,776 28,414 8.3 33,959 (9.4)
---------- ---------- --------- ---------- ---------
Total non-interest
expenses 124,800 105,601 18.2 123,456 1.1
---------- ---------- --------- ---------- ---------
Income before income
taxes $ 23,704 $ 21,393 10.8 $ 10,773 120.0
========== ========== ========= ========== =========

As a percentage of net
revenues:
Compensation and
benefits 63.3% 60.8% 66.7%
Non-compensation
operating expenses 20.7% 22.4% 25.3%
Income before income
taxes 16.0% 16.8% 8.0%
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Institutional Group Segment
Institutional Brokerage and Investment Banking Revenues (Unaudited)
Three Months Ended
----------------------------------------------------------------------------
(in 000s) 3/31/12 3/31/11 % Change 12/31/11 % Change
---------- ---------- --------- ---------- ---------
Institutional
brokerage:
Equity $ 44,172 $ 52,398 (15.7) $ 40,598 8.8
Fixed income 45,296 38,323 18.2 39,741 14.0
---------- ---------- --------- ---------- ---------
Institutional
brokerage 89,468 90,721 (1.4) 80,339 11.4

Investment banking:
Capital raising:
Equity 31,550 23,005 37.1 10,109 212.1
Fixed income 10,813 3,041 255.6 13,222 (18.2)
---------- ---------- --------- ---------- ---------
Capital raising 42,363 26,046 62.6 23,331 81.6
Advisory fees 15,605 9,060 72.2 28,728 (45.7)
---------- ---------- --------- ---------- ---------
Investment banking $ 57,968 $ 35,106 65.1 $ 52,059 11.4
----------------------------------------------------------------------------

(2) Includes net interest and other income.

Investor Relations Contact
Sarah Anderson
(415) 364-2500
Email Contact

SOURCE: Stifel Financial Corp.

http://www2.marketwire.com/mw/emailprcntct?id=A91C7B2790E644F3

Copyright 2012 Marketwire, Inc., All rights reserved.

/quotes/zigman/242086/quotes/nls/sf

Add to portfolio

SF

Stifel Financial Corp.

US

: U.S.: NYSE

$
32.42

-0.43
-1.31%

Volume: 407,026
May 17, 2012 4:01p

P/E Ratio24.30
Dividend YieldN/A

Market Cap$1.76 billion
Rev. per Employee$282,894

/quotes/zigman/242086/quotes/nls/sf

Add to portfolio

SF

Stifel Financial Corp.

US

: U.S.: NYSE

$
32.42

-0.43
-1.31%

Volume: 407,026
May 17, 2012 4:01p

P/E Ratio24.30
Dividend YieldN/A

Market Cap$1.76 billion
Rev. per Employee$282,894

/quotes/zigman/242086/quotes/nls/sf

Add to portfolio

SF

Stifel Financial Corp.

US

: U.S.: NYSE

$
32.42

-0.43
-1.31%

Volume: 407,026
May 17, 2012 4:01p

P/E Ratio24.30
Dividend YieldN/A

Market Cap$1.76 billion
Rev. per Employee$282,894

Financial Glossary

Words used in this article:

This is his third time as an exhibitor at the show, and Hergenroeder is excited about the new location, a change from the previous venue, the Baltimore Convention Center.

Its in my backyard, near where most of my customers have come from for the last 15 years, says Hergenroeder.

He plans to exhibit several items, including end tables and storage cabinets. He will also show one of his favorite pieces, Garden Dreams, a king-size, intricately detailed bed embellished with flowers. Retailing at about $12,000, the two-tone bed embodies the kind of work Hergenroeder says he enjoys most: marquetry.

Marquetry, the art of applying wood veneers to furniture to create detailed designs, shapes and patterns, dates back to the ancient Egyptians, who used rare and exotic woods to decorate thrones, chests and tombs.

Since taking up marquetry, Hergenroeder has used over 100 species of wood from around the world to create his veneers, some coming from as far away as the Congo, Sri Lanka, India, Africa and Indonesia.

Inlay adds a bit of uniqueness to the piece, says Hergenroeder.

Using his marquetry and inlay design, he is able to reproduce traditional, Federal-style furniture similar to the ones on display at the Baltimore Museum of Art or the Maryland Historical Society. He also builds more modern pieces.

While Hergenroeder has a certain aptitude for creating these art furniture or studio pieces, most of his business comes from custom built-ins.

Hergenroeder produces customized bookcases, shelving units, TV stands, armoires, beds, chests, tables and cabinet built-ins at prices ranging from about $6,000 to $13,000.

After consulting with the client and sketching the design, Hergenroeder builds 75 percent of the piece in his shop. The rest of the work is done inside the clients home, where he completes the assembly.

Although he has owned his own business for over 20 years, Hergenroeder never pictured himself as an entrepreneur or a carpenter.

The AHA’s HeartHub® for Patients is a one-stop shopping resource for cardiac patients and their caregivers. At the HeartHub you’ll find information, tools, quizzes, podcasts, and much more.

Some of the interesting resources include:

1. Health Centers
The Health Centers is one of the many interesting resources you’ll find at the HeartHub. Health Center topics include resources specific to arrhythmias, cardiac rehabilitation, caregiver resources, cholesterol, diabetes, heart attack, heart failure, high blood pressure, and peripheral artery disease or PAD.

2. Resources
The Resource section of the HeartHub contains not only a range of heart-related information, but provides it in many formats designed to meet today’s changing communication needs. Those who still love the feel of paper will find information on free magazines while those who maximize traffic time will love listening to the heart podcasts.

Whether you’re looking for podcasts, magazines, eNewsletters, or video, you’re sure to find a resource in the delivery format that’s right for you.

3. Tools
The Tools section provides links to tools in four different categories — Risk Assessments, BMI Calculator, Heart Health Tools, and Glossary — designed to help you manage your heart-related health needs. The Risk Assessment area provides information to help you assess your risk for diabetes, heart risk, and high blood pressure. It also provides a link to the My Life Check center located at http://mylifecheck.heart.org/Multitab.aspx?NavID=3/

Heart Health Tools provides users with assessments, tools to track their heart health status, print and web resources, newsletters, personal stories, caregiver information, and much more.

Head coach Dave TippettOn how his team is preparing without knowing the start day for Game 1: Weve gone through some different scenarios. Were going to focus like its going to start sometime this weekend and thats what were going to plan for. I think some of it depends on what happens in that game tonight (Game 6 between the New York Rangers and Washington Capitals in the Eastern Conference Semifinals). So, we met this morning, started a little bit of preparation, well have some guys on the ice, some in the gym today and well have two good practices Thursday, Friday for sure and start gearing up for LA. Well start more of our harder prep the next two days. Well be ready to go, whether its Saturday, Sunday- whenever it is, well be ready to go.

On whether the time off is too much: A couple days is good for us right now. Any time you can grab the rest I think its a good thing, but youve also got to balance it. Well have two good days of practice where we expect good, intense practices to get us ready. The thing about it is, is that both teams are in the same situation – they won their series the day before we did. So, both teams are in the same predicament that way.

On his teams defensive depth: You have to have more than six guys ready. I thought (David) Schelmko came in and played a very good game for us the other night under a tough situation, where losing (Adrian) Aucoin halfway through that game, all of a sudden youve got a player whos played in two games in the last three weeks and hes getting extra minutes and I thought he handled himself very well. So, well kind of evaluate where we are over the next few days and figure out which six we feel like gives us the best chance to be successful, and thats who well go with.

Defenseman Keith YandleOn how his team doesnt lose momentum with the time off: Its our job. We have to be ready to play when we do play and you cant just be playing off of emotion. We know that when we get out there the crowd is going to be behind us, theres going to be enough emotion to get ready for the game. It doesnt matter how much time you had in between. Youre going to be ready for a playoff game.

On the abilities of some of his fellow defensemen: I think all of our guys have offensive ability. Everybody is pretty good with the puck, plays the puck well, makes good passes. And thats the key, especially in this game, is to try to make one pass and get out of the zone quick or as quick as you can. And I think weve got guys who are great defensively as well, too, but I think weve got a lot of good puck-moving guys.

On what it was like to play LA in the regular season: I thought our games we played with them in the regular season were playoff-type games. We played hard; there were a lot of fights, guys playing hard. So, I remember when we finished those games you talk amongst the guys and youre saying its a playoff-type game. So, its a good thing that we got matched-up with them and are able to play them because its going to be a fun series.

Goaltender Mike SmithOn playing LA: Theyre a deep team with a really good goaltender. They play their system to a tee. So, its going to be another tough test for our club.

On defenseman Oliver Ekman-Larsson: Its unbelievable. The kid never ceases to amazing you with what kind of moves he pulls off on the ice. He flies under the radar, but I think hes getting a lot more acknowledgements now that were going deep in the playoffs and hes logging the kind of minutes he has. So, hes playing with top players and hes done an unbelievable job for us. Hes been, obviously, a young kid thats improved every game, I think. Just his composure out there shows a lot about what kind of kid he is.

On the evolution of the defense in the postseason: I think weve gotten more confident playing with the puck. Early in the playoffs we didnt want it so much. We got it and got rid of it, I think as we got deeper in the playoffs our lsquo;D got more comfortable playing with it, playing with the puck, being more poised with it and started to make a lot more plays with it. So, I think as we do that the players themselves gain confidence in what theyre doing, and not just that, but blocking shots and the desperation that it takes to win hockey games, especially close hockey games. The difference between winning and losing when youre blocking shots that are going in empty nets or defending rushes and stuff like that, theyve done an unbelievable job.

Captain Shane DoanOn what he expects out of LA in terms of physicality: Theyre going to play hard. Its a fun type of hockey to play, you enjoy it and I think our team enjoys that a lot. I think were comfortable playing that type of game, and obviously theyve been very successful at doing it. And you look at what theyve done to Vancouver and to St. Louis. They wouldve probably been a lot of peoples picks out of the West and LA did a good job of making it look almost easy at times.

On playing LA: You never know, but you always talk about how you get into the playoffs and almost anything can happen, and two weeks before the playoffs Im sure that not too many people were picking this, but it doesnt matter, were both here and were excited.

On Kings Captain Dustin Brown: Hes probably been the best forward, the best player. You look at (goaltender Jonathan) Quick, and you look at Smitty (Mike Smith), the goaltenders, they always rule the playoffs. But outside, as a player, hes probably been the best player in the playoffs. Its been fun to watch, its going to be really fun to compete against him, for sure. I mean, you look forward to that.