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Tuesday, April 21, 2009

Will Investors Do an About-Face on Fund Firms' Stocks?

by: Armie Margaret Lee

Fund firms' stock are the subject of Tuesday's Wall Street Journal Ahead of the Tape column. In the article, titled "Time is Ripe to Take Stock of Fund Firms", Shefali Anand notes that with the market turn since March 9, investors had become upbeat on the fate of asset managers. Up until Monday, when asset managers' shares dropped below the broader market, investors had been snapping up fund firms' stocks amid the market surge.

However, earnings numbers -- starting with AllianceBernstein, BlackRock, Janus Capital and T. Rowe Price this week -- may dampen investors' optimism.

"The only consolation is that this quarter will likely be a slight improvement on the fourth quarter, when BlackRock's and T. Rowe's earnings fell more than 80 percent," Anand writes.  

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