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SOURCE StockCall.com
LONDON, March 22, 2013 /PRNewswire/ --
The asset management industry faced significant challenges in 2012 as financial markets remained under pressure due to the Eurozone debt crisis and global economic slowdown. However, financial markets have stabilized since the start of this year. In the U.S., equities have had an excellent run, with the Dow Jones rising to record high levels. With financial markets continuing to stabilize, we have selected asset management companies such as The Bank of New York Mellon Corporation (NYSE: BK), State Street Corporation (NYSE: STT), Legg Mason Inc. (NYSE: LM), and TICC Capital Corp. (NASDAQ: TICC) for review. Asset management stocks struggled in Thursday's trading session as the broad market fell sharply amid concerns over Cyprus's bailout. StockCall has posted free technical research reports on BK, STT, LM, and TICC and these can be accessed by signing up at
http://www.stockcall.com/analysis
The Bank of New York Mellon Corporation's shares saw a sharp decline on Thursday, extending its losses for the week. The stock fell 1.45% lower at $27.85 on volume of 3.53 million. For the week, the stock is down nearly 3.50%. Despite the pullback this week, the asset management company's shares have gained more than 8.80%. It has slipped below $28 support level this week, which is a bearish signal. The negative trend is further confirmed by the stock's MACD chart. The MACD has just crossed below the signal line. Download the free report on BK upon registration at
http://www.StockCall.com/BK032213.pdf
State Street Corporation's shares tumbled in trading on Thursday. The stock closed 2.53% lower at $59 on volume of 2.89 million. State Street's shares rose earlier in the day to an intra-day high of $60.24, which is close to the stock's 52-week high of $60.65. The company's shares have had an excellent run so far in 2013, gaining more than 25%. However, the stock's MACD has just crossed below the signal line, which suggests that market sentiment has turned bearish on the stock. STT technical report can be accessed for free by signing up at
http://www.StockCall.com/STT032213.pdf
Legg Mason Inc.'s shares hit a 52-week high of $32.59 in Thursday's trading session, however, the stock failed to hold on to its gains. Legg Mason's shares finished the day 0.66% lower at $31.67 on above average volume of 2.93 million. The company's shares have seen a series of highs over the past few trading sessions, which is a bullish signal. However, the stock's MACD chart suggests that the bullish trend may be coming to an end. Shares of LM have outperformed the broad market so far in the year, gaining more than 23.50%. The free report on LM can be downloaded by signing up now at
http://www.StockCall.com/LM032213.pdf
TICC Capital Corp.'s shares struggled in yesterday's trading session, closing 0.99% lower at $10 on volume of 616,851. The stock has fallen more than 4.50% in the last three sessions. TICC Capital's shares have pared most of their gains for the year as a result of recent losses. Year-to-date, the stock is now up more than 1.70%, underperforming the S&P 500. The company's shares have slipped below their 50-day moving average, which is a bearish signal. Free report on TICC can be accessed by registering at
http://www.StockCall.com/TICC032213.pdf
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