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.
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.
Morgan Stanley has hired Blair Pickerell as its managing director and head of investment management for Asia, according to published reports.
State Street Corp. posted an 11% increase in net income on stronger servicing and investment management fees, which boosted revenue to a record level.
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.
Wachovia Corp. shareholders have approved two proposals by the company's board that will affect how directors are elected and how often.
Jefferies Group Inc. announced record quarterly investment banking revenues, net revenues, net earnings, and earnings per share, according to a statement released today.
Investors in taxable mutual funds paid 56% more in taxes on their fund holdings in 2006 than they did in 2005, according to a report released today by Lipper Inc.
