AI
Tuesday, October 07, 2008 1:51:53 PM
Wachovia widens Q3, 2008 loss view for Merrill Lynch
Sipkin expects Merrill to report a loss of $6.12 a share in the third quarter, compared with his prior view of a loss of $1.03 a share. For the full year, he sees a loss of $12.50 per share, compared with his previous forecast of a loss of $8.14 per share.
Merrill Lynch's global wealth management unit should begin to see signs of weakness as retail investors disengage due to bear market conditions and client assets decrease in light of market performance, the analyst said.
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBNG34861820081007
Sipkin expects Merrill to report a loss of $6.12 a share in the third quarter, compared with his prior view of a loss of $1.03 a share. For the full year, he sees a loss of $12.50 per share, compared with his previous forecast of a loss of $8.14 per share.
Merrill Lynch's global wealth management unit should begin to see signs of weakness as retail investors disengage due to bear market conditions and client assets decrease in light of market performance, the analyst said.
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBNG34861820081007
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
