Baltimore-Based Legg Mason's Shares Skyrocket, but Cuts May Loom
The Daily Record (Baltimore) › October 30, 2008
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Summary
Shares of Legg Mason Inc.'s stock skyrocketed as much as 45 percent Wednesday as third-quarter earnings exceeded analysts' expectations and redemptions from the company's mutual funds began to slow. But the Baltimore-based asset manager said it had identified cost savings that could include job cuts.
Legg's shares ended the day up $3.94, or 30.35 percent, to $16.92.See the full content of this document
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Baltimore-Based Legg Mason's Shares Skyrocket, but Cuts May Loom
The Baltimore-based asset manager had net client outflows of $20 billion for its fiscal second quarter of 2009, which ended Sept. 30, compared to outflows of $18.4 billio...
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