Why Franklin Resources (BEN) Skyrocketed on Friday?

We recently published a list of 10 Firms Buck Market Slump on Impressive Earnings, New Deals. In this article, we are going to take a look at where Franklin Resources, Inc. (NYSE:BEN) stands against other firms buck market slump on impressive earnings, new deals.

The stock market ended the trading week in the red territory following President Donald Trump’s announcement that he would begin slapping tariffs against major US trading partners.

The Dow Jones shed 0.75 percent, the S&P 500 lost 0.50 percent, while the Nasdaq Composite dropped by 0.28 percent.

Ten companies bucked a wider market decline amid a flurry of positive catalysts that sparked buying appetite. In this article, we will take a look at which companies posted notable gains and explore the reasons behind their performance.

To come up with Friday’s gainers, we only considered those with $2 billion in market capitalization and $5 million in daily trading volume.

A close-up of an investor making a transaction, with a financial graph reflecting the market trend.

Frankin Resources, Inc. (NYSE:BEN)

Franklin Resources, Inc. (NYSE:BEN) saw its share prices grow for a second day on Friday, jumping 10.37 percent to close at $22.24 apiece as investor sentiment was buoyed by better-than-expected fourth-quarter earnings performance.

During the quarter ending December 2024, Franklin Resources (NYSE:BEN) said it swung to a net income of $163.6 million from a net loss of $84.7 million during the third quarter of 2024. The figure, however, was lower by 35 percent than the $251.3 million reported in the same period a year prior.

Operating income was at $219 million during the period, as compared with an operating loss of $150.7 million for the previous quarter and operating income of $206.5 million in the same period last year.

Revenues were also higher at $2.25 billion than the analysts’ consensus of $1.71 billion.

In a statement, Franklin Resources President and CEO Jenny Johnson said the earnings performance demonstrated progress across key growth areas, enabling the company to meet the evolving needs of its clients, amid heightened market volatility.

Overall, BEN ranks 5th on our list of firms buck market slump on impressive earnings, new deals. While we acknowledge the potential of BEN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BEN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.