By Ajay KamalakaranBANGALORE (Reuters) - Billionaire activist investor Nelson Peltz has secured a seat on the Legg Mason Inc LM board after accumulating a stake of 4.3 percent in the asset manager.Peltz's appointment avoids a possible proxy fight. Legg Mason said on Monday the appointment reflects an agreement with Peltz's...
(Reuters) - Stock index futures pointed to a higher open on Monday for Wall Street, which fell on Friday.At 5:46 a.m. EDT, futures for the Dow Jones, S&P 500 and Nasdaq were up between 0.3 and 0.5 percent.The FTSEurofirst 300 index of leading European shares was up 0.1 percent...
(Reuters) - U.S. asset manager Legg Mason Inc LM said on Monday billionaire activist investor Nelson Peltz will be elected to its board on Tuesday.Peltz's Trian Fund Management holds about 6.94 million shares, or 4.3 percent, in the asset manager, Legg Mason said in a statement."We welcome Nelson, whose firm...
Legg Mason (NYSE: LM) closed yesterday at $29.53. So far the stock has hit a 52-week low of $10.35 and 52-week high of $33.70. Legg Mason stock has been showing support around 28.83 and resistance in the 29.97 range. Technical indicators for the stock are Bearish and S&P gives LM a weak 2 STAR (out of 5) sell...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)
The major indexes ended Wednesday’s trading session in negative territory. The Dow closed down 0.1%, the S&P 500 fell 0.1% and the Nasdaq dropped 0.5%.
The major indexes ended Wednesday’s trading session in negative territory. The Dow closed down 0.1%, the S&P 500 fell 0.1% and the Nasdaq dropped 0.5%.
Asian shares were mostly higher Monday with S.Korean shares helped by upbeat economics.Bank failures in US exceed 100 for this year, most closings since 1992.China's September coal imports increase 7% from August as economy recoversOil prices slipped to near $80 a barrel in AsiaDollar falls versus Euro as recovery signs, stock gains sap safety demand.Japan to punish BNP Paribas's unit over convertible bond, share price manipulation.Japan's PM Hatoyama says recovery 'unpredictable,’ unemployment may worsen.S Korea's Q3 GDP rises 2.9% - fastest quarterly pace in more than seven years.SEC considering filing securities fraud charges against ICAP's US subsidiary.[More...]
BloggingStocks: Here are some highlights from last week's earnings coverage from BloggingStocks:
Altria Group Inc. (NYSE: MO) Q3 earnings beat by a penny but sales fell short of expectations; shares fell.
AMR Corp. (NYSE: AMR) reported a Q3 net loss and ... Read more
Did Bill Miller or Legg Mason bribe Barron's for a recent cover story? Or has Barron's assumed investors cannot understand elementary math? Given Miller's atrocious performance in recent years followed by positive 2009 performance that still has investors that committed capital to Value Trust in 2007 down considerably, one must wonder how Miller could obtain the Barron's cover story on October 12th entitled "It's Miller Time."[More...]
Legg Mason, Inc. (LM) is surging ahead of its Q3 results set to be delivered on Oct 22, helped by rising estimates and a financial sector recovery.
Company Description
Legg Mason, Inc. operates as an asset management firm servicing both individual and institutional investors. The company was founded in 1899 and has a market cap of $4.71 [...]
The folks at Legg Mason must have some pull as Bill Miller features are making the rounds this week: Bloomberg: Legg Mason’s Miller Helps Win Clients as Returns Rise Barron’s: It’s Miller Time The Barron’s article, in particular, seemed embarrassingly gushy for a manager who ranks in the 99th percentile for fund managers over 3 and 5 years.[More...]
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