Merrill Lynch Profit Estimates Cut by Goldman on Mortgage Loss
By Allen Wan
Sept. 26 (Bloomberg) -- Merrill Lynch & Co. may have earned less than was previously estimated in the third quarter, reflecting a ``multibillion dollar'' loss due to weakness in the mortgage market, Goldman Sachs & Co. said.
Merrill shares fell $1.56, or 2.2 percent, to $70.56 at 1:50 p.m. in New York Stock Exchange composite trading.
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