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Legg Mason’s net income misses expectations as markets slump

Baltimore-based Legg Mason Inc. reported a fiscal second quarter profit that fell short of analysts’ estimates as the stock market slump eroded assets and fees for overseeing them. Net income rose to $64.3 million, or 58 cents a share, from $5 million, or 4 cents, a year earlier, when earnings included a debt-refinancing charge of 59 ...

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