Charles Schwab Sinks After Vowing to Shrink Bank Over Time
Charles Schwab shares suffered their biggest intraday drop since last year’s regional-bank crisis after warning it will have to shrink itself.
Hedge Fund Segantii Has Returned More Than 90% of Client Money
Segantii Capital Management Ltd. has returned more than 90% of its client capital two months after the firm told investors it would.
Morgan Stanley's Wealth Business Slowdown Overshadows Profit Beat
Morgan Stanley's profit beat Wall Street expectations for the second quarter, but weakness in its key wealth business sent shares nearly 3% lower.
Charles Schwab Shocks Wall Street With Interest Revenue Falling 6%; Client Assets Hit $9.4 Trillion
Charles Schwab (SCHW) reported slightly better than expected second-quarter earnings and revenue early Tuesday.
Envestnet Confirms $4.5 Billion Bain Buyout
Envestnet, a leading provider of integrated technology, intelligent data and wealth solutions, has entered into a definitive agreement to be acquired by Bain Capital in a transaction valuing the Company at $4.5 billion ($63.15 per share). Reverence Capital also agreed to participate in the transaction. Strategic partners BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors have committed to invest in the proposed transaction, and upon its completion they will hold minority positions in the private company.