T. Rowe Price Shares Surge 5.6% Amid Strategic Partnership with Goldman Sachs

T. Rowe Price shares rose 5.6% after announcing a strategic collaboration with Goldman Sachs, which includes a planned investment of up to $1 billion from the financial giant. The partnership aims to leverage both firms' strengths to create diversified investment solutions for retirement and wealth management clients. The collaboration will focus on developing products that combine public and private market offerings, and launch co-branded target-date investment strategies in mid-2026. T. Rowe Price's shares are down 1.7% year-to-date and trading 10.6% below its 52-week high.