Financial Business Recap: Barclays Libor Fallout CONTINUES, BlackRock’s UNDERVALUED Shares

Residuals from the Libor scandal continue as a regulatory filing reveals that The July “discharge” of a managing director of Barclays PLC (NYSE:BCS) originated over a “loss of confidence (for failing) to properly supervise individuals on his team.” Additionally, one of the dorector’s traders was sacked for “communications involving inappropriate requests relating to Libor.”

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Shares of BlackRock, Inc. (NYSE:BLK) are undervalued by approximately 20 percent even if it has to reduce the fees on its line of iShares exchange-traded funds, says Luke Montgomery at Bernstein, who keeps his Market-Perform. Other observers feel that the company will lose income at the beginning, but the lower costs should help raise assets under management over time.

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