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Stock Market & Financial Investment News

News Breaks
February 12, 2013
14:29 EDTBEN, TROW, FIIFederal Reserve presidents support money market mutual fund reform in letter
The presidents of the twelve Federal Reserve Banks have submitted a joint letter responding to the Financial Stability Oversight Council's proposal on money market mutual fund reform, according to an announcement posted to the site of the Federal Reserve Bank of Boston. The twelve Reserve Bank presidents support the Council's efforts to address the structural vulnerabilities of MMFs. They also agree with the Council's determination that MMFs' activities and practices could create or increase the risk of liquidity and credit problems spreading through the financial system. In the letter, the Reserve Bank presidents discuss the risks associated with MMF activities and practices, focus on issues that should be addressed as part of any reform proposal, such as enhancing the accuracy of market-based net asset values, present observations on each of the three reform alternatives in the Council’s proposal, discuss why standby liquidity fees and temporary redemption gates would not address financial stability risks, and concur with the Council that more than one alternative could address the financial stability concerns posed by MMFs – for example, fund sponsors could be permitted to offer both a floating NAV fund and separately a stable NAV fund with a capital buffer or a buffer coupled with a Minimum Balance at Risk. The Fly notes that Federated Investors (FII) CEO Christopher Donahue has been an outspoken opponent of an effort to impose new regulations on the industry. Reference Link
News For FII;TROW;BEN From The Last 14 Days
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January 30, 2015
08:33 EDTBENFranklin Resources reports Q1 EPS 91c, consensus 93c
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January 29, 2015
15:37 EDTBENNotable companies reporting before tomorrow's open
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06:10 EDTTROWCiti recommends long Affiliated Managers, short T. Rowe Price trade
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January 28, 2015
07:37 EDTTROWT. Rowe Price: Investors should temper performance expectations
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07:35 EDTTROWT. Rowe Price reports Q4 EPS $1.18, consensus $1.14
Reports Q4 revenue $1.02B, consensus $1.02B; Reports Q4 Investment advisory revenue $892.1M. Assets under management at the end of 2014 were $746.8B.
January 27, 2015
15:35 EDTTROWNotable companies reporting before tomorrow's open
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January 22, 2015
16:03 EDTFIIFederated Investors reports Q EPS 38c, consensus 38c
Reports Q4 revenue $217.85M, consensus $221.28M.
January 20, 2015
06:58 EDTTROWBlackRock, Fidelity close to launching 'dark pool,' WSJ reports
Some of the largest mutual fund firms, including Fidelity, BlackRock (BLK), Bank of New York Mellon (BK),, T. Row Price (TROW) and JP Morgan (JPM) are among the firms that are close to launching a new "dark pool," The Wall Street Journal reports, citing sources. The effort, which involves nine firms in total, would look to shut out sell-side trading desks and high-speed trading firms. Reference Link

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