The million-dollar question of how much
Putnam paid $24 million in restitution, legal and other costs, parent company
Still, net income, supported in large part by MMCs insurance units, reached $378 million, or 70 cents a share, up 21% from $312 million, or 47 cents a share, from the year-earlier period. The company beat the 65 cents a share consensus estimate of
While Putnams "reputation has been damaged in the near term," PNC Advisers analyst Nicholas Xie told Bloomberg News, "they still have a decent franchise. Maybe the worst is over."
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The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.