Amtrak names former Delta executive as next CEO
WASHINGTON, June 26 Amtrak on Monday named a former Delta Air Lines chief executive as its next president and CEO as the U.S. passenger rail carrier makes major repairs at its busiest U.S. hub.
Asset manager Franklin Resources Inc (BEN.N) said on Thursday its quarterly profit rose and just beat Wall Street expectations, but revenue fell and expenses increased.
For its fiscal fourth quarter ended September 30, Franklin said net income rose to $492.1 million, or $2.31 per share, from $416 million, or $1.88 per share, in the same period a year earlier.
Analysts, on average, expected the San Mateo, California, company to earn $2.30 per share, according to Thomson Reuters I/B/E/S.
Operating revenue fell 1 percent to $1.82 billion, while expenses rose 4 percent to $1.19 billion.
The company reported higher net income because the year-ago period included a $116.5 million loss tied mainly to the its own investments in its funds.
Shares in Franklin have risen steadily since the summer on enthusiasm for its investments in developing markets, drawing steady inflows from investors.
The inflows continued in the September quarter. The company reported net new flows of cash from investors of $2.9 billion during the period. But that was less than the $4.8 billion added in the three months ended June 30.
Assets under management totaled $749.9 billion at September 30, up from $707.1 billion at June 30.
(Reporting By Ross Kerber; Editing by Gerald E. McCormick)
SAO PAULO, June 26 The Brazilian unit of U.S. food processor Cargill agreed to sell a fruit processing plant located in the Sao Paulo state to German food ingredients maker Doehler, a source with knowledge of the deal told Reuters on Monday. (Reporting by Roberto Samora; Writing by Marcelo Teixeira)