Bank of New York Mellon Surges On Higher AUM, Fees
Higher custody fees and increased assets under management helped boost third-quarter results for asset custodian banks including Bank of New York Mellon (BK), BlackRock (BLK) and Northern Trust (NTRS) . BNY Mellon shares surged almost 6% by late in the session Wednesday to 24.88 after it reported adjusted earnings per share of 57 cents, down from 59 cents a year ago but 3 cents higher than views. Total fee revenue fell 1% to $2.86 billion. But
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