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European Debt Crisis

T. Rowe Price reports $206.8 million profit for second quarter

T. Rowe Price Group said earnings rose to $206.8 million for the second quarter on record revenue of $736.8 million, results that fell below analysts' expectations and sent the company's shares tumbling Wednesday. On a per-share basis, the Baltimore-based investment company earned 79 cents. For the second quarter last year, Price earned $204.7 million, or 76 cents per share, on revenue totaling $713.7 million. Earnings came slightly under analysts' averaged expectations of 80.6 cents per share, according to Bloomberg. Price's shares fell $1.71 Wednesday to close at $58.97 per share. Assets under management at the end of June reached $541.7 billion, down $13.1...