T. Rowe Price Group Inc..'s second-quarter profits dropped 38% in the second quarter, in large part due to investment-advisory revenue. The Baltimore-based firm did, however, beat Wall Street expectations.
Financial adviser Ameriprise Financial Inc.'s second-quarter profit dropped 58 percent as it dealt with the fallout from a weak stock market, but results still managed to beat expectations.
Swiss bank Credit Suisse Group today reported a 29 percent increase in second quarter net profit after a strong performance in its investment unit drove up core revenues.
PNC Financial Services Group Inc. says its second-quarter profit dropped 87 percent largely because of an FDIC assessment and the continued cost of integrating National City Corp. into its operation.
CME Group Inc. said today its second-quarter profit jumped 10% due to the company's expanding operations. The exchange operator's profit beat analysts' expectations.
The government says the number of newly laid-off workers seeking jobless benefits rose last week, though the report was distorted by the timing of auto plant shutdowns.
Investors celebrated news of another jump in home sales by propelling the Dow Jones industrials to their first close above 9,000 since January.
Fifth Third Bancorp today posted a profit for the second quarter because of a $1.1 billion gain from the sale of a controlling interest in its processing business.
Bank holding companies reaped a record $734.5 million in annuity fee income during the first quarter, according to data from Michael White Associates.
Wells Fargo has joined other big banks in reporting significant second-quarter results, with a 47 percent rise in profit helped by its acquisition of Charlotte, N.C.,-based Wachovia Corp.
Morgan Stanley says its net loss after payment of preferred dividends was $1.26 billion, or $1.10 per share, compared with earnings of $1.06 billion, or $1.02 per share, a year earlier.
Second-quarter profit plunged 76 percent at U.S. Bancorp as credit costs rose and it repaid a government loan. But the results still beat Wall Street expectations as net revenue hit a quarterly record and the stock rose nearly 4 percent today.
Next Financial Group Inc. of Houston was fined $1 million today by the Financial Industry Regulatory Authority Inc. for failures to supervise its network of some 130 branch managers, also known as OSJs in the independent-contractor-broker-dealer industry.
If the market decline of the past year or so has taught the investing public anything, it's that professional investment advice — whether from top Wall Street gurus, mutual fund managers or financial advisers — doesn't ensure success.
Slumping home prices and financial incentives may make homeownership all the more tantalizing for young newlyweds, but advisers warn that renting may be the smarter choice.
The financial crisis is helping to boost financial planning in the workplace.
Small-business owners are aware that their employees worry about long term care insurance, but the perceived cost of providing workers with that coverage turns employers off, according to data from John Hancock Financial Services Inc.
Investment manager BlackRock Inc. said Tuesday its second-quarter profit tumbled 20 percent, but its earnings still surpassed analysts' expectations.
The chief driver of satisfaction, according to the study, is the financial adviser, comprising 30% of the total — an increase from 22% in 2008. In contrast, investment performance declined in importance — accounting for only 15% of overall satisfaction, compared with 24% in 2008.
Rather than chiefly representing the variable annuities industry, the Washington-based institute will reach out to advisers and their clients through the group's distributor members, acting as a source of information via webcasts, consumer brochures and research.
