Weiss Group sells ratings business to thestreet.com.TheStreet.com (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ), a provider of financial news, information and analysis, has acquired Weiss Ratings, Inc. (Jupiter, FL) from the Weiss Group. No terms of the deal were given. Weiss Ratings was established in 1988 and provides financial evaluations in "at risk" industries and tracks the performance of more than 16,000 mutual funds and more than 6000 stocks. The company uses computer models to evaluate the strength of more than 13,000 financial institutions, including life, health and annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. insurers, HMOs, Blue Cross Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. plans, banks, and savings and loans savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. . TheStreet.com said the purchase is consistent with its strategy to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. both its sources of revenue and its content and to diminish reliance on any one product or service. The acquired assets will be renamed TheStreet.com Ratings. Weiss Group will continue to operate Weiss Research, producer of daily and monthly newsletters ("Money & Markets," "Safe Money Report" and "Energy Options Alert," among others), Weiss Money Management and The Weiss School. |
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