Victoria Bay Asset Management LLC of Alameda, Calif, announced today the launch of the United States Natural Gas Fund LP (UNG), an exchange-traded security based on natural gas.
Knight Capital Group Inc. posted a 35% drop in first-quarter profits on lower revenues and a loss from discontinued operations, falling short of analysts estimates.
JPMorgan Chase & Co. posted a 55% increase in quarterly earnings, energized by gains in its investment banking and asset management businesses.
Amvescap PLC chief executive Martin Flanagan's 2006 pay package was less than half of his compensation in 2005, according to a Financial News report.
The Bank of New York Co. Inc, parent of Jersey City, NJ-based Pershing LLC, posted a 3% increase in net income during the first quarter.
Morgan Stanley has hired Blair Pickerell as its managing director and head of investment management for Asia, according to published reports.
Wells Fargo & Co. posted an 11% increase in first-quarter profit, resulting from growth in lending and a higher-net interest margin, which set off increasing credit losses.
Charles Schwab Corp. posted a 12% increase in net income for the first quarter, as new customers increased assets in client accounts.
Mellon Financial Corp. reported a 22% increase in first-quarter profit after an acquisition helped boost its assets over the $1 trillion mark.
TD Ameritrade Holding Corp. posted an 18% drop in second-quarter net income today, one year after the company recorded its largest one-time gain.
