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Rating:No Layoffs at T. Rowe Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, April 05, 2001

No Layoffs at T. Rowe

Reported by InvestmentWires Staff, 

Trading of T. Rowe Price shares was halted after Chairman George Roche told shareholders that he expects the firm's first-quarter earnings to fall "moderately below'' the 43 cents a share it earned in the fourth quarter, reports Reuters. A firm spokesperson said he does not expect any layoffs. The shortfall is the result of an 11 percent drop in assets under management to $94.8 billion. Officials failed to say whether it will meet analysts estimates of 41 cents a share. The fund firm earned 58 cents a share a year ago. He added that the firm also plans to cut expenses from 2000 levels. [posted 4:15 pm]
* * *

Lincoln Financial said today it is letting subadvisors of its variable annuities publish profiles on LincolnLife.com. The new feature is called "Fund of the Week." AIM, Alliance Capital, Deutsche Asset Management, Fidelity Investments and American Funds have already been profiled. Lincoln plans to add links to more information and online sound bites from fund managers. [posted 4:15 pm]
* * *

InvestorForce named Thomas Zucosky as senior vice president to lead its alternative investment team. Zucosky most recently was head of marketable alternative investments for the World Bank's Strategic Investment Group (SIG). [posted 4:15 pm]
* * *

Muriel F. Siebert has opened her Women's Financial Network Web site. The site provides women with a suite of investment execution services, information and tools dedicated to their financial concerns, said Siebert. WFN also targets women business owners with tools such as writing a proposal to funding, loans and creating retirement plans, a business plan wizard and a business-funding wizard. [posted 4:15 pm]  

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