Zacks Bull and Bear of the Day Highlights: Symantec, Freeport-McMoRan, Invesco, Franklin Resources and Legg Mason
CHICAGO, March 13, 2013 /PRNewswire/ -- Zacks Equity Research highlights Symantec (Nasdaq: SYMC) as the Bull of the Day and Freeport-McMoRan (NYSE: FCX) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Invesco Ltd. (NYSE: IVZ), Franklin Resources Inc. (NYSE: BEN) and Legg Mason Inc. (NYSE: LM).
Full analysis of all these stocks is available at http://at.zacks.com/?id=2678.
Here is a synopsis of all five stocks:
If you want exposure to the big trends in cyber-security, you might consider owning the biggest "secret agent" in the business, Symantec (Nasdaq: SYMC). This $17 billion provider of Internet security technology and software to corporations, individuals, and governments has been the beneficiary this year of rising earnings estimates and increased vigilance at the Federal level to combat "cyber terrorism."
In just the last two months, the National Defense Authorization Act, which includes several cybersecurity statutes, was signed into law, two independent cybersecurity bills have been reintroduced to the U.S. Congress, and President Obama signed an Executive Order aimed at improving national IT security, specifically related to "critical infrastructure."
Several computer security names have outperformed the recent meager advances of the tech-heavy Nasdaq, including Check Point Software and Palo Alto Networks, which had its IPO last July.
But Symantec has been joined by Sourcefire and Fortinet in racking up 30%, 25%, and 20% gains, respectively, in the past 3 months.
As gold continues to test the lower bounds of its 18-month support line above $1500, the miners keep sliding down the shaft even faster.
Copper king Freeport-McMoRan (NYSE: FCX) is hardly immune, just because it is the world's lowest-cost producer. That's because the industrial metal with a PhD in economics isn't exactly predicting gangbuster global growth with its consolidation around $3.50 per pound.
Freeport-McMoRan is engaged in mineral exploration and development, mining and milling of copper, gold, and silver in Indonesia, North America, and the smelting and refining of copper concentrates in Spain and Indonesia. It is one of the world's largest producers of gold and copper.
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Invesco's AUM Shows Marginal Rise
Invesco Ltd. (NYSE: IVZ) recorded a marginal rise in its preliminary month-end assets under management (AUM) for Feb 2013. The AUM for the month was $713.8 billion, up 0.2% from $712.6 billion at the end of Jan 2013.
Favorable market returns as well as hike in active long-term inflows were the primary reasons for the rise. Yet, foreign exchange led to a $5.8 billion drop in AUM. At the end of the month, Invesco's average assets stood at $708.0 billion, while the total value of average active assets was $588.4 billion.
In the month under review, Invesco's preliminary active AUM was recorded at $593.0 billion, reflecting a 0.2% rise from $591.9 billion in the prior month. Similarly, preliminary passive AUM was $120.8 billion, witnessing a marginal 0.1% increase from the earlier month level.
At the end of Feb 2013, Invesco's total equity AUM dipped 0.2% to $311.3 billion from $312.0 billion recorded at the end of Jan 2013. Also, alternative AUM showed a slight decline of 0.2% from the prior month to $84.3 billion.
Nevertheless, Invesco's fixed income AUM inched up 0.3% to $174.8 billion from $174.2 billion in the preceding month. Similarly, balanced assets summed up to $66.8 billion, rising 1.7% from the previous month. Further, money market AUM came in at $76.6 billion in the reported month, improving 0.5% from the prior month's level.
Among other investment managers, Franklin Resources Inc. (NYSE: BEN) announced preliminary AUM of $813.8 billion by its subsidiaries for Feb 2013, up 0.5% from $809.8 billion as of Jan 31, 2013. Another investment manager, Legg Mason Inc. (NYSE: LM) is expected to announce its Feb 2013 AUM later this week.
Invesco's broad diversification strategy positions it comfortably to benefit from enhanced global investment flows. However, the unstable U.S. dollar, volatile equity markets and a sluggish economic recovery, along with mounting competition, make us apprehensive.
Get the full analysis of all these stocks by going to http://at.zacks.com/?id=2649.
About the Bull and Bear of the Day
Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.
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