T. Rowe Price, one of the largest public pure-play mutual fund firms reported earnings two cents short of consensus estimates this morning. Analysts' consensus earnings estimate according to Thomson Financial/First Call was $0.40 per share but the firm reported $0.38 per share. The total net of $49.3 million was well off of its $75 million net in the first quarter of 2000. The hit stemmed from losses in assets under management which fell to $148.7 billion from $185.2 billion a year ago. This drop caused revenues to fall to $280.5 million from $316.3 million.

Cash Edge and Business Logic have formed a partnership. CashEdge has integrated its account aggregation and funds transfer service into Business Logic's Net-Finance Software. The solution will enable financial institutions who use Net-Finance to combine the financial data aggregated by Cash Edge with other specialized external and internal data sources for use in web applications and other Internet-based systems.

Global Investment Systems, (GIS) a international investment industry software company, announced the addition of FBGR National Bank & Trust, formerly Rushmore Trust and Savings, FSB. FBR National is an MFACT client. MFACT is a mutual fund accounting and administration system for organizations that perform portfolio and financial accounting and reporting for mutual funs and unit trusts.

American Express Company reported first quarter net income of $538 million, down 18 percent from $656 million in the same period a year ago. Diluted earnings per share declined 17 percent to $.40 from $.48. Net revenues on a managed basis totaled $5.4 billion, up 2 percent from $5.3 billion. The company's return on equity was 23.5 percent.

Barron's reported that St. Louis-based full service brokerage A.G. Edwards Inc. could be an acquisition target. Shares of the firm's stock are pretty low-they fell 38 cents at 39.67 on the New York Stock Exchange on Friday, below a 52-week high of $57.93 and up from a 52-week low of $31.75.

Thompson Financial has acquired an additional 60 percent interest in Invest Tracker Tecnologia (ITT), a provider of mutual fund data, content and analytics to Brazilian and retail investors.  

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