Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:'Noncore Businesses Have Been a Drag' on Fidelity Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, June 28, 2010

'Noncore Businesses Have Been a Drag' on Fidelity

News summary by MFWire's editors

Financial services at Fidelity are looking good, but other businesses are a different story. That's the main thrust of an article in yesterday's Boston Globe. Todd Wallack reports, according to S&P analyst Charles Rauch, Fidelity's "noncore businesses" are "a drag on the company's consolidated profitability."

Fidelity's operating income rose from $2.4 billion in 2008 to $2.5 billion in 2009, thanks to solid results in its core financial services businesses and a reduction in headcount. Yet ProBuild Holdings, a building materials supplier, cost Fidelity $345 million in losses over six months last year, and European telecoms firm Colt Technology Group forced Fidelity to take a $410 million hit. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use