Franklin Resources Inc. News
Janus Henderson and Invesco Rise as Trian Buys Stakes
Trian Fund Management says it intends to encourage the asset managers to consider strategic options like a merger.
Franklin Resources to Buy Legg Mason for $4.5 Billion
Franklin Resources will buy rival asset manager Legg Mason for $50 cash per share.
Apple, Coronavirus, Walmart, Legg Mason and Pier 1 - 5 Things You Must Know Tuesday
Stock futures point lower after Apple issues a revenue warning because of the coronavirus outbreak in China; Walmart reports earnings; Franklin Resources reportedly is close to buying rival Legg Mason.
Mutual Funds, Eviscerated by ETFs, Face New Humiliation, Moody's Says
Moody's Investors Service predicts active stock- and bond-picking firms' share of the money-management industry will be overtaken as soon as 2021 by 'passive' vehicles like index-tracking mutual funds and exchange-traded funds.
T. Rowe Price, Franklin Resources Fall Following Earnings Dissapointments
Both companies were falling sharply Wednesday following their earning releases.
Stock-Picking Firms Invesco, Affiliated Prove Terrible Stock Picks
Even after an abysmal 2018, 16 big U.S. money managers could see earnings per share in 2019 fall another 5% on average, Jefferies estimates.
Legg Mason Withdrawals Quicken in Latest Sign of Mutual-Fund Woes
The mutual-fund industry can't seem to keep investors from shifting their money into low-cost exchange-traded funds and index-matching funds.
Perennial Wall Street Runner-Up Greg Fleming Is Now Rockefellers' Money Man
Over the past decade, Greg Fleming almost became CEO of Merrill Lynch and Morgan Stanley. Now, he's put together a deal to head a new money-management venture backed by the Rockefellers.
BlackRock Gets Record ETF Inflows as Investors Sour on Stock Pickers
Larry Fink's BlackRock is getting all the love from investors amid dismay over the high fees and recent underperformance of rivals who specialize in active stock-picking.
Mutual Funds Lost $5.4 Billion in Puerto Rico, WSJ Says
Puerto Rico is currently in what amounts to municipal bankruptcy court.
Breaking News
Gas Prices Fall Below $4 A Gallon For the First Time Since March Amid Global Crude Market Declines
Gas prices extended their run of declines to 52 days overnight, falling below $4 a gallon for the first time since early March.
Disney Stock Soars As Streaming Total Tops Netflix, Price Hikes Unveiled For Disney+ and Hulu
"We believe we have plenty of room on price value," Disney CEO Bob Chapek said of the group's streaming price hikes. "And we do not believe that there's going to be any meaningful on our churn as a result."
Disney World Has a Problem Visitors Won't Like
The theme park giant has been trying to make changes and that has caused some issues for its guests.
Papa John's Has a Bizarre New Menu Item
The pizza giant goes someplace pizza fans may not want to follow but Domino's, Pizza Hit, and Little Caesars don't sell this.