Bank of New York Mellon, State Street, Legg Mason, Och-Ziff, and TICC Capital Early Briefing and Review
LONDON, April 23, 2013 /PRNewswire/ --
Equity markets had an excellent run in the first quarter of 2013. While the second quarter has been mixed so far, all three benchmark indexes are trading close to multi-year high levels. With investors continuing to pour money into risk assets, the asset management industry can expect a robust year ahead. The industry is also expected to benefit from stabilizing financial markets. On Monday, asset management stocks ended mostly higher, tracking gains in the broad market. Among the major movers in the sector were The Bank of New York Mellon Corporation (NYSE: BK), State Street Corporation (NYSE: STT), Legg Mason Inc. (NYSE: LM), Och-Ziff Capital Management Group LLC (NYSE: OZM), and TICC Capital Corp. (NASDAQ: TICC). StockCall has released free charting and technical research on these aforementioned companies. Register to read these reports at
http://www.stockcall.com/report
Shares of The Bank of New York Mellon Corporation edged higher in Monday's trading session, as the broad market finished the day in green. The stock touched an intra-day high of $27.28 before finishing the day 0.59% higher at $27.15 on above average volume of 6.21 million. Despite the gains yesterday, the company's shares have fallen more than 4.50% in the last three sessions. Year-to-date, however, the stock is still up more than 6.14%. Shares of BK are currently trading 6.80% below their 52-week high. Sign up for the free report on BK at
http://www.StockCall.com/BK042313.pdf
State Street Corporation shares gained in trading on Monday, tracking gains in the broad market. However, the gains were limited. The stock closed 0.56% higher at $57.25 on volume of 2.98 million after trading between $56.29 and $57.31. The company's shares have had an excellent run so far in 2013, gaining 22.30%. However, the stock has been struggling to break through $60 resistance level. State Street's shares also slipped below their 50-day moving average recently, thus indicating a bearish signal. STT free technical report can be accessed by signing up at
http://www.StockCall.com/STT042313.pdf
Another stock in the financial sector that finished in the green on Monday was Legg Mason Inc. Shares of the global asset management company rose 0.36% to finish the day at $30.30 on volume of 842,497. The stock traded between $29.82 and $30.32 yesterday. Legg Mason's shares are currently trading close to their 52-week high of $32.59. Its shares have gained more than 18.20% so far in 2013, compared to a gain of over 9.50% for the S&P 500. Free report on LM can be accessed by registering at
http://www.StockCall.com/LM042313.pdf
Shares of Och-Ziff Capital Management Group LLC rose sharply in yesterday's trading session. The stock closed 2.63% higher at $9.75 on volume of 640,796. Och-Ziff Capital's shares are currently trading 3.30% below their 52-week high. The stock has been trading in a tight range over the past few trading sessions, struggling to break through $10 resistance level. Year-to-date, the company's shares have gained more than 10.60%. Register with StockCall and download the research on OZM for free at
http://www.StockCall.com/OZM042313.pdf
TICC Capital Corp.'s shares climbed in trading on Monday, extending their gains from previous trading sessions. The stock ended the day 1.80% higher at $9.63 on volume of 499,512, taking its gains in the last three trading sessions to over 3.80%. Despite the recent gains, the stock is still down more than 2% in the last three trading sessions. TICC Capital's shares are also trading below their 50-day and 200-day moving averages. Read the full free research on TICC by signing up to StockCall at
http://www.StockCall.com/TICC042313.pdf
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