Bank of America Corp. led decliners in the Dow Jones Industrial Average after reporting profit dropped 63 percent, hurt by shrinking revenue and more costs from cleaning up bad mortgages.
T. Rowe Price Group Inc., the asset manager that has posted a profit every quarter since going public in 1986, said fourth-quarter earnings rose 23 percent as stock markets gained boosted assets and the fees they generate.
In the fourth quarter, fees and commissions from trust services generated $22.0 million, a 23% increase from $17.9 million a year earlier.
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