Affluent investors have been pouring money into separately managed accounts and turning slightly away from mutual funds, a new consumer research report shows. As of 2022, 22% of U.S. households that invest had SMAs, up from 13% in 2020, according to data published Thursday by Hearts & Wallets. Meanwhile, mutual...
Bristol Myers Squibb on Thursday reported quarterly adjusted earnings that topped expectations and posted revenue in line with estimates, even as sales of the company's popular blood cancer drug Revlimid plummeted due to generic competition. Bristol Myers, one of the world's largest pharmaceutical companies, raked in $10.96 billion in revenue...
A general view of the "SUPER NINTENDO WORLD" entrance at Universal Studios Hollywood on February 16, 2023 in Universal City, California.Rodin Eckenroth | Getty Images Entertainment | Getty ImagesComcast topped both revenue and profit estimates in the third quarter as the company added 294,000 wireless customers and NBCUniversal's theme...
Morgan Stanley has made its decision on who should succeed the man who helped the firm recover from the turmoil of the financial crisis and grow into wealth management titan. Current CEO James Gorman announced his decision to step down after 13 years in charge back in May, telling the...
LPL Financial is empowering its advisors to retain tax planning business in-house rather than referring clients to external services – and to leverage an outsourced CFO in their business. The firm’s newest Tax Planning Service links advisors with LPL’s tax planning specialists to enable them to identify clients who would...
Sam Bankman-Fried’s testimony in a New York courtroom Thursday will be the latest must-see moment in the high-profile fraud trial over the collapse of his FTX crypto exchange. The 31-year-old Bankman-Fried’s decision to take the stand was questioned by defense lawyers, but may be his only chance to win over...
Paying for health care is increasingly straining US adults as escalating medical costs converge with rising prices throughout the economy. More than half of working-age Americans said they had difficulty paying for health care in 2023, according to a Commonwealth Fund survey published Thursday. Among people without insurance, more than...
Bitcoin has jumped on bets that the first US exchange-traded funds investing directly in the token are set to be approved. The question now is whether an actual green light for the products would spur some profit-taking. The largest digital asset is up 16% this week and at one point...
JPMorgan Chase & Co. has appointed global co-heads of mergers and acquisitions for its team catering to large private equity firms and other financial investors. Haidee Lee and Carsten Woehrn will co-lead M&A for the bank’s strategic investor group, according to an internal memo seen by Bloomberg News. The group,...
New standards for the global carbon offsets market threaten to wipe out “a lot” of value for investors, according to Lombard Odier. In an attempt to improve the quality of the $1.3 billion market for offsets, the Integrity Council for the Voluntary Carbon Market’s new guidelines require projects to include 40 years of emissions...