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Feb 11, 2013 (SmarTrend(R) News Watch via COMTEX) -- A week ago on February 1st, 2013 Franklin Resources (NYSE:BEN) reported earnings and analysts, on average, expected earnings of $2.38 on sales of $1.9 billion. Franklin Resources actually reported earnings of $2.42 per share on sales of $1.9 billion, beating EPS estimates by $0.04 and beating revenue estimates by $50.1 million. Since the company's report, shares of Franklin Resources have risen from $139.77 to $140.20, representing a gain of 0.3% in the past 10 days.
Franklin Resources share prices have moved between a 52-week high of $140.81 and a 52-week low of $100.91 and are now trading 39% above that low price at $140.20 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.
SmarTrend recommended that subscribers consider buying shares of Franklin Resources on November 2nd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $132.81. Since that recommendation, shares of Franklin Resources have risen 5.6%. We continue to monitor BEN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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Copyright, Comtex News Network, Inc. 2013
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