NEW YORK -- Knight Capital Group KCG is discussing a possible rescue involving TD Ameritrade AMTD , Getco and other investors, according to a report.
Under the plan being discussed, TD Ameritrade and Getco would be the primary investors in a consortium of more than six entities that would provide a total of $400 million in capital to Knight, The Wall Street Journal reported.
A Knight representative declined to comment, the Journal said.
Knight, the Jersey City, N.J-based market maker, last Wednesday suffered a software glitch that caused it to send out erroneous trading orders. On Thursday, the company announced it had suffered a $440 million pretax loss as a result.
Under the consortium plan, the investors would purchase debt that would convert into stock at $2.50 a share, the Journal report said.
Jefferies JEF also is involved in setting up the arrangement, the report said.
Knight in Talks on Potential Rescue: Report
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-- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: tips@thestreet.com.
Chesapeake Energy CHK is expected by analysts Monday to post fiscal third-quarter earnings of 8 cents a share on revenue of $2.5 billion.
Tyson TSN TSN , the meat and chicken processor, is expected Monday to post a profit of 55 cents a share on revenue of $8.75 billion.
Earnings are also expected Monday from Dillard's DDS , Cache CACH and Cognizant Technology CTSH .
The U.S. attorney's office in Los Angeles is investigating whether Las Vegas Sands LVS violated money-laundering laws by not reporting money transfers to its casinos from two big gamblers, according to the Journal. Las Vegas Sands Target of Federal Probe: Report
Teva Pharmaceutical TEVA , the Israeli generic drugmaker, is being investigated by the Securities and Exchange Commission for possible violations of a U.S. antibribery law.
-- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: tips@thestreet.com.
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