We recently compiled a list of the The 10 Worst-Performing Stocks on Monday. In this article, we are going to take a look at where Franklin Resources Inc. (NYSE:BEN) stands against the other stocks.
Ten companies kicked off this week’s trading with significant losses, mirroring a wider market pessimism over growing trade tensions.
The declines came following the US imposition of additional tariffs on goods from Canada, Mexico, and China, and signals of potential retaliation of taxes on US goods.
On Monday, the Dow Jones lost another 0.28 percent, while the S&P 500 and the Nasdaq Composite both registered steep declines of 0.76 percent and 1.20 percent, respectively. The slump came following President Donald Trump’s announcements that he would slap a 25-percent tariff on Canadian and Mexican goods, while a special 60-percent rate would be taxed on Chinese products.
Our list of Monday’s top losers only considered the companies with at least $2 billion in market capitalization and $5 million in daily trading volume.
A close-up of an investor making a transaction, with a financial graph reflecting the market trend.
Franklin Resources Inc. (NYSE:BEN)
Shares of Franklin Resources tumbled by 6.83 percent on Monday to end at $20.72 apiece as investors resorted to profit-taking following gains on Friday, thanks to its better-than-expected fourth-quarter earnings performance.
During the quarter ending December 2024, Franklin Resources said it swung to a net income of $163.6 million from a net loss of $84.7 million during the third quarter of 2024.
However, the gains in share price were short-lived, as investors remained cautious due to a notable decline in net income compared to the $251.3 million reported in the same period last year.
Operating income was at $219 million during the period, as compared with an operating loss of $150.7 million for the previous quarter and operating income of $206.5 million in the same period last year.
Revenues were also higher at $2.25 billion than the analysts’ consensus of $1.71 billion.
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This article is originally published at Insider Monkey.
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