Legg Mason reports quarterly profit
Market Watch (Free subscription) | 07/21/2009
Asset manager Legg Mason Inc. surprises the markets by announcing a net profit for its fiscal first quarter that beat consensus estimates.
Legg Mason Inc.
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Stocks End At Day's Highs - Nasdaq Streak Extends To Day Nine
iStockAnalyst.com (Free subscription) | 07/20/2009
Companies reporting quarterly scorecards in the after-hours include Texas Instruments Inc (TXN) and Legg Mason Inc (LM). [More...]
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Legg Mason earnings improve in first quarter
Market Watch (Free subscription) | 07/20/2009
SAN FRANCISCO (MarketWatch) -- Legg Mason Inc. late Monday reported first-quarter earnings of $50.1 million, or 35 cents a share, recovering from a loss of $36.1 million, or 26 cents a share, a year earlier. Operating revenue decreased to $613.1 million from $1.1 billion in the same period last year. Analysts surveyed by FactSet Research had forecast earnings of 21 cents a share on revenue of $612.1...
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Legg Mason ratings downgraded by Fitch
Market Watch (Free subscription) | 07/16/2009
BOSTON (MarketWatch) -- Fitch Ratings on Thursday said it has downgraded Legg Mason Inc.'s issuer default rating and senior debt rating after the investment manager announced an offer to exchange senior debt for common equity as it tries to shore up capital and reduce outstanding debt. "Legg Mason's core earnings power has weakened considerably over recent quarters, as market value losses and...
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Stock Review : Legg Mason (NYSE: LM); Texas Instrument (NYSE: TXN)
iStockAnalyst.com (Free subscription) | 07/15/2009
Legg Mason Inc. is a global asset management firm and provides investment management and related services to institutional and individual clients, company-sponsored mutual funds and other investment vehicles. [More...]
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Light Street tower tenant renews 10-year lease
Boston Globe (Free subscription) | 07/10/2009
As money manager Legg Mason Inc. continues its move from its headquarters at 100 Light Street in downtown Baltimore to Harbor East, leasing agents for the Light Street tower announced Thursday a 10-year lease renewal by tenant Thomas & Libowitz, which occupies one floor of the city's tallest office building. The law firm will continue to lease nearly 15,000 square feet, while the other four remaining...
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Kyle Legg to step down from Legg Capital Management
Boston Globe (Free subscription) | 06/27/2009
Kyle Legg, chief executive officer of Baltimore's Legg Mason Capital Management, the home of famed stock picker Bill Miller, has decided to step down Tuesday after 18 years with the firm but will serve as a consultant for the rest of the year, the company said Friday. She will be replaced by Jennifer Murphy, an executive vice president who oversees LMCM's research team, risk management and new product...
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Legg Mason upgraded to hold at Deutsche Bank
Market Watch (Free subscription) | 06/25/2009
LONDON (MarketWatch) -- Deutsche Bank upgraded Legg Mason Inc. to hold from sell, saying press reports of an activist investor increasing its stake in the business will likely push the valuation higher, offsetting weak fundamentals at the fund manager. Reports have indicated Nelson Peltz, via the Trian Fund, has taken an increasing stake in the business. "While it could turn out not to be true,...
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Legg Mason CEO compensation worth $6.5 million in down year
Boston Globe (Free subscription) | 06/22/2009
Fetting package comes in year when company reports huge loss Baltimore money manager Legg Mason Inc. paid Chief Executive Officer Mark R. Fetting a total compensation for fiscal 2009 of $6.5 million during a year when the company reported a huge loss and struggled with weak performance of its flagship mutual funds.
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Legg Mason reports quarterly loss
Market Watch (Free subscription) | 05/05/2009
NEW YORK (MarketWatch) -- Asset manager Legg Mason Inc. said Tuesday that it lost $325 million, or $2.29 a share, in its fiscal fourth quarter, wider than the loss of $255.4 million, or $1.81 a share, it suffered in the year-ago period. Revenue fell to $617.2 million, down from $1.07 billion in the same period of 2008. Assets under management at the end of the quarter were down to $632.4 billion,...
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FundWatch: Bill Miller sees signs of recovery
Market Watch (Free subscription) | 05/01/2009
As debate rages about whether the market upturn is for real, Legg Mason Inc. fund manager Bill Miller said he sees signs for hope.
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Legg lays off 40, five of them in Baltimore
Boston Globe (Free subscription) | 04/21/2009
Legg Mason Inc. has laid off 40 workers in administrative and support positions, including some at its Light Street headquarters, in the latest work force reduction for the Baltimore money manager.
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Legg cracks Fortune 500 list
Boston Globe (Free subscription) | 04/21/2009
Money manager joins Constellation, B & D Legg Mason Inc. cracked the Fortune 500 list for the first time this year, joining two other Baltimore-area firms as among the nation's largest companies.
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Legg Mason lays off about 120
Boston Globe (Free subscription) | 03/25/2009
12 in Baltimore laid off; most cuts at Calif. division Baltimore money manager Legg Mason Inc. laid off 20 employees, including 12 people at its Light Street headquarters, while its largest division cut about 100 jobs in response to continuing market volatility and its struggling financial performance.
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Update 2-MOVES-Legg Mason, DSP Merrill Lynch and others
Financial24 (Free subscription) | 03/18/2009
19:32 (Adds OMelveny&Myers) The following financial services industry appointments were announced on Wednesday. To inform us of other job changes, e-mail moves@thomsonreuters.com. LEGG MASON INC Pr read more .....