Affiliated Managers Group and Madison Square Garden shares rise on strong quarterly results

Affiliated Managers Group, Inc. saw its shares advance due to strong momentum in its alternatives platform and record assets. Madison Square Garden Entertainment also experienced a rise in shares following better-than-expected quarterly results, driven by strong concert performance and growth in sponsorship and advertising. Meanwhile, Ariel Investments exited its position in consumer food products maker J.M. Smucker Co. to explore other investment opportunities. These developments highlight positive trends in asset management and entertainment sectors for investors.