Morningstar is still a buyer. In the Chicago-based fund rating specialist's first quarter earnings report, released yesterday afternoon, chairman and CEO Joe Mansueto highlighted his firm's continued appetite to do deals.

"We're also seeing more acquisition opportunities globally," Mansueto stated. "Sellers are motivated and looking to partner with a firm like Morningstar, which has the resources and geographic reach to help expand their businesses."

Morningstar reported earnings of $0.40 per diluted share, down from $0.51 in Q1 2009 and off 20 percent from the $0.48 one analyst expected, Reuters reports. 

Edited by: Neil Anderson, Managing Editor


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