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Rating:Federated's Shares Recover as Donahue Fights Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, March 16, 2012

Federated's Shares Recover as Donahue Fights

News summary by MFWire's editors

Even as Federated [profile] CEO Chris Donahue publicly fights SEC chair Mary Schapiro's plans for more new money market fund regulations, Mr. Market is again beginning to smile on the Pittsburgh-based mutual fund firm. As of market close yesterday, Federated's shares were up 45.28 percent year-to-date.

Ross Kerber of Reuters reported on Federated's (FII) share price recovery.

The gain of the Pittsburgh asset manager may seem out of place after Donahue warned that three potential new rules were "three different types of poison" that would "kill or seriously injure a 40-year-old great business."

"People now see that the (money market) issue is going to be a long battle," Stifel Nicolaus analyst Jeffrey Hopson said.

Yet despite the bump in 2012, Federated's shares are still down 17 percent year-over-year, as they fell 42 percent in 2011. 

Edited by: HFD

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