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Stock Market & Financial Investment News

News Breaks
January 8, 2013
09:12 EDTBENFranklin Resources' Templeton to fully divest TSEMF II
Templeton Emerging Markets Group announced the exit from all investments held in the Templeton Strategic Emerging Markets Fund II, or TSEMF II. TSEMF II was established in 2005 and is led by Dr. Mark Mobius, executive chairman of Templeton Emerging Markets Group. The $132.5M TSEMF II generated a net internal rate of return, or IRR, of 34.3%, and a net multiple of cost, or MoC, of 2.1 times. All 12 investments were fully exited in less than 7.5 years since the Fund's initial close. The Fund made strategic private equity investments in listed and unlisted companies across a variety of sectors throughout global emerging markets such as China, India, Russia, South Korea and Central Eastern Europe. The Fund's investment strategy was focused on growth stage investments that involved adding new capital to companies in healthcare, consumer and light infrastructure.
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April 10, 2014
13:43 EDTBENFidelity to pitch new lost cost trading venue to large asset managers, WSJ says
Fidelity is working on a new trading venue, dubbed "Sakura," that it hopes will be a collaboration among big mutual-fund firms to reduce costs and streamline trading and will be an improvement over other "dark pools," reported The Wall Street Journal, citing people with knowledge of the matter. The report said Fidelity is in the initial planning stages and has just started pitching the idea to other large asset managers. Publicly traded fund managers include BlackRock (BLK), Franklin Resources (BEN) and T. Rowe Price (TROW), while Investment Technology Group (ITG) currently operates dark pools that facilitate block trading among large institutions. Exchange operators Nasdaq (NDAQ) and Intercontinentalexchange's (ICE) NYSE have previously testified to legislators that too much trading occurs in dark pools, hurting investors. Reference Link
April 8, 2014
16:31 EDTBENFranklin Resources preliminary AUM $886.9B at March 31
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April 4, 2014
10:02 EDTBENOn The Fly: Analyst Downgrade Summary
Antero Resources (AR) downgraded to Buy from Strong Buy at ISI Group... Cobalt (CIE) downgraded to Buy from Strong Buy at ISI Group... Franklin Resources (BEN) downgraded to Market Perform at Keefe Bruyette... Hasbro (HAS) downgraded to Hold from Buy at Needham... PPL Corp. (PPL) downgraded to Neutral from Outperform at Macquarie... Sonic (SONC) downgraded to Neutral from Buy at Buckingham... Vodafone (VOD) downgraded to Neutral from Buy at Nomura... AutoZone (AZO) downgraded to Neutral from Outperform at RW Baird... Advance Auto Parts (AAP) downgraded to Neutral from Outperform at RW Baird... LinnCo (LNCO) downgraded to Neutral from Buy at Citigroup... LINN Energy (LINE) downgraded to Neutral from Buy at Citigroup... General Mills (GIS) downgraded to Hold from Buy at Argus.
05:51 EDTBENFranklin Resources downgraded to Market Perform at Keefe Bruyette
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