Oct 26- Asset manager Legg Mason Inc said on Friday that quarterly profit rose 42 percent as it reported the first quarterly net inflow since 2007.. For the second quarter ended Sept. 30, Baltimore- based Legg Mason on Friday reported net income of $80.8 million, or 60 cents per share, compared with 56.7 million, or 39 cents per share, in the same period a year earlier.
BALTIMORE-- Legg Mason, the money management firm in the middle of a rocky CEO transition, on Friday reported results that beat Wall Street estimates even as revenue slipped. For the fiscal second quarter, which covered July through September, Legg Mason earned $80.8 million, or 60 cents per share, up 42 percent from $56.7 million, or 39 cents per share, a year ago.
Oct 11- Mutual fund manager ClearBridge Advisors LLC said on Thursday it would drop the name of its struggling parent company, Legg Mason, from all of its U.S. funds over the next several months. With $58 billion of assets under management, New York- based Clearbridge is the largest manager of equity funds at Legg Mason.
Oct 10- Legg Mason Inc:. *Reports assets under management for September 2012. *Says reported preliminary assets under management of $651 billion as of.
*Jefferies raises Franklin Resources Inc target price to $128 from. *Jefferies raises Janus Capital Group Inc target price to $9 from $8;. *Jefferies cuts Legg Mason Inc target price to $27 from $30; rating.
Stocks closed off their best levels Tuesday, but the Dow still logged its best level in nearly five years, ahead of a key decision from the German Constitutional Court and possible action from the Federal Reserve.
Take a look at some of Friday's morning movers:
Second quarter GDP Friday could be a game changer for markets that are anxious for any clues as to the depth and duration of the current soft patch.
Take a look at some of Wednesday's midday movers:
Billionaire investor Nelson Peltz has unveiled a 7.3 percent stake in Ingersoll-Rand.
Take a look at some of Friday morning's early movers:
With hedge funds attracting the best talent and ETFs offering a lower cost alternative to retail investors, Bill Miller may be the last rock star to emerge from the mutual fund industry.
Jefferies shares touched a 52-week low today, and if put activity is any indication, options traders see them going even lower.
If regular investors can take any clues away from the recent moves by the market's big fish, it's that this would be the time to go for the tried and true and not the big prize.
With October's recent stock market rally, it was no September to remember for Legg Mason. The manager of $612 billion in assets had a 25 percent drop in net income as falling stocks prompted its institutional investors to pull out or rebalance their portfolios. But in October, "things are looking a lot better," Chief Executive Mark Fetting told CNBC Friday.
For the second quarter, Legg Mason plunged 25% as customers pulled money out of the markets and the company's investments lost value. Discussing the current state of business is Mark Fetting, Legg Mason chairman/CEO.
Many investors have been tested this year, as a confluence of events, from natural disasters to an unexpectedly weakening economy, has pummeled stocks. A report from TheStreet details four high-profile, respected fund managers who have struggled this year.
The best outcome for the United States is "some nominal growth or some acceleration in nominal growth," Wayne Lin, portfolio manger and investment strategy analyst for Legg Mason Global Asset Allocation, told CNBC Tuesday.
S&P futures popped about 6 points when initial jobless claims for the week, at 398,000, were lighter than expected. Stocks are oversold—some agreement on the debt ceiling should lead to a gap up.
What follows is a roundup of corporate earnings reports for Tuesday, May 3.