Jefferies falls after missing quarterly profit estimates on weak equity underwriting

Shares of investment bank Jefferies JEF.N down ~3% at $54.30 after the bell

Jefferies' quarterly net earnings fall nearly 40% to $88 million, or 40 cents per share, missing analysts' expectations of 44 cents per share, according to data compiled by LSEG

Company reports second-quarter revenue from equity underwriting at $122.4 million, down from $249.2 million a year earlier; debt underwriting revenue remains flat

Quarterly revenue from the capital markets business dips 0.4% to $704.2 million

Up to last close, JEF down 28.7% YTD