Analysts see more losses for Merrill Lynch
By Daniel at 8 October, 2008, 9:12 am
BOSTON (MarketWatch) — Fox-Pitt Kelton analyst David Trone on Wednesday said he
expects Merrill Lynch , which has agreed to be acquired by Bank of America Corp.
, to report total quarterly write-downs of $8.5 billion. “In likely its last
quarter before its pending acquisition by Bank of America, Merrill Lynch is
almost certainly going to post its fifth consecutive loss-making quarter,” Trone
said in a report. Merrill is scheduled to report third-quarter earnings on Oct.
16, according to Thomson StreetEvents. Separately, analysts at Keefe, Bruyette &
Woods on Wednesday raised their third-quarter loss estimate for Merrill to $5.65
a share from $5.07 a share, including losses on credit derivatives and the
termination of monoline hedges, and also more write-downs on remaining asset
exposures.
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