Jefferies Group Inc., the investment bank that helped rescue Knight Capital Group Inc., dropped the most in 10 months in New York trading after reporting revenue and earnings that fell short of analysts’ estimates excluding gains from the deal.
Franklin Resources Inc., manager of the Franklin and Templeton mutual funds, said fiscal second- quarter earnings more than tripled on rising stock prices and inflows to the firm’s global investment products.
In the clash of the two largest U.S. brokerages, Bank of America Corp.’s Merrill Lynch is generating more profit with fewer people than the business Morgan Stanley formed by buying a controlling stake in a venture with Citigroup Inc.’s Smith Barney.
For Michael Hasenstab , manager of the top-rated and best-selling Templeton Global Bond Fund , Greece is the latest example of why investors should avoid countries that rely too heavily on borrowed money.
Franklin Resources Inc.’s Templeton Global Bond, this year’s best-selling mutual fund in the U.S., suffered its first month of redemptions in three years in November after performance lagged behind rivals.
Jefferies Group Inc. Chief Executive Officer Richard Handler said turmoil around the investment bank’s shares and publicly traded debt will ease as the fallout dissipates from the collapse of MF Global Holdings Ltd.
Goldman Sachs Group Inc. and Morgan Stanley profit estimates were lowered by Meredith Whitney Advisory Group LLC, following similar cuts by other research analysts as markets fell and business demand shriveled.
Bill Gross ’s Pimco Total Return Fund , the world’s largest mutual fund, was the second-biggest decliner among the largest U.S. bond managers in the past month as clients pulled money for the first time in two years amid a selloff in Treasuries.