Shares of Legg Mason, Inc. (NYSE:LM) [Trend Analysis] runs in leading trade, it moving up 2.56% to traded at $30.88. The firm has price volatility of 2.47% for a week and 2.12% for a month. Its beta stands at 1.90 times. Legg Mason Inc., (LM) declared that contract with Shanda Group, Legg Mason’s largest shareholder, that includes a commitment to appoint Tianqiao Chen, Chairman and CEO of Shanda Group, and Robert Chiu, President of Shanda Group, to the company’s Board by June 1, 2017.
Chen will be joining the Board as the Vice Chairman. The contract contemplates Shanda Group purchasing additional shares of Legg Mason common stock in the future to increase its investment up to 15% of outstanding common stock. Shanda Group has agreed to invest at least $500 million in investment products with Legg Mason affiliates.
Shanda Group is Legg Mason’s largest shareholder, owning approximately 10% of the company’s outstanding common stock. Narrow down four to firm performance, its weekly performance was -9.25% and monthly performance was -4.66%. The stock price of LM is moving down from its 20 days moving average with -2.72% and isolated negatively from 50 days moving average with -1.02%.
Several matter pinch shares of Biogen Inc. (NASDAQ:BIIB) [Trend Analysis], as shares plunging -2.66% to $278.77 with a share volume of 2.48 Million. Biogen has named its chief commercial officer, Michel Vounatsos, to replace George Scangos as CEO, the Cambridge-based company said Monday. Biogen (NASDAQ:BIIB) said the appointment would be effective Jan. 6. Scangos reported in July that he planned to step down, fueling speculation that the company might be looking to sell itself. Vounatsos was just appointed to his role in April following a 20-year career at Merck (NYSE: MRK), where he most recently served as president of the company’s primary care business line.
“It is an honor to be asked to lead this great company, one that has played such an important role in transforming the treatment of multiple sclerosis for patients globally,” Vounatsos said in a statement. “I am excited to build upon Biogen’s legacy, as we pursue innovative new therapies for those suffering from serious neurologic and neurodegenerative diseases and create value for shareholders by maintaining a clear focus on what is best for patients.”
The stock is going forward its 52-week low with 25.00% and moving down from its 52-week high price with -16.45%. To have technical analysis views, liquidity ratio of a company was calculated 3.20 as evaluated with its debt to equity ratio of 0.54. The float short ratio was 1.06%, as compared to sentiment indicator; Short Ratio was 1.38.