Franklin Resources will buy rival asset manager Legg Mason for $50 cash per share.

Stock futures point lower after Apple issues a revenue warning because of the coronavirus outbreak in China; Walmart reports earnings; Franklin Resources reportedly is close to buying rival Legg Mason.

Moody's Investors Service predicts active stock- and bond-picking firms' share of the money-management industry will be overtaken as soon as 2021 by 'passive' vehicles like index-tracking mutual funds and exchange-traded funds.

Both companies were falling sharply Wednesday following their earning releases.

Even after an abysmal 2018, 16 big U.S. money managers could see earnings per share in 2019 fall another 5% on average, Jefferies estimates.

The mutual-fund industry can't seem to keep investors from shifting their money into low-cost exchange-traded funds and index-matching funds.

Over the past decade, Greg Fleming almost became CEO of Merrill Lynch and Morgan Stanley. Now, he's put together a deal to head a new money-management venture backed by the Rockefellers.

Larry Fink's BlackRock is getting all the love from investors amid dismay over the high fees and recent underperformance of rivals who specialize in active stock-picking.

Puerto Rico is currently in what amounts to municipal bankruptcy court.

The renowned investor wants to end a habit that is part of his legend.

Something that has never been legal -- even in Sin City -- is coming to a major location just off the Las Vegas Strip.

The Dearborn, Mich., auto veteran is ramping up initiatives in the race to play a leading role in electric vehicles.