T. Rowe Price quashes sale talk
From Wall Street Journal
T. Rowe Price is denying widely spread rumors that it is on the block. Today's Heard on the Street
quotes T. Rowe vice chair James Riepe as saying that company's stock price has performed well over the years, and that T. Rowe Price doesn't need to merge to gain assets or resources. "The only reason to do it would be strategic, and we don't see anything strategic out there for our investors and clients." Since insiders control about 30% of the firm's stock any hostile deal is unlikely.
More on MutualMinds.com
From Dallas Morning News
MutualMinds.com is getting more publicity for its fund which invests in the picks of its own investors. "What we're doing is tapping into the collective intelligence of average investors, separating the wheat from the chaff, and applying it to investment decisions," says CEO Randy Bullard.
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