Knight Capital: No longer recommended

Our Dallas presenter is no longer recommending Knight Capital Group (NITE: NASDAQ). The company has unexpectedly increased its investment in growth opportunities, which won't yield results in the next several quarters, hurting margins in the meantime. Payments for order flow have also gone up. The story still has long-term appeal, but the risk/reward ratio in the near to medium term is no longer favorable, in the presenter's opinion.