Custom Search

NEW YORK (MarketWatch) — Ladenburg Thalmann on Monday cut its 2008 and 2009
profit estimates for Morgan Stanley on worries that management turmoil and a dip
in equity markets will affect the bank’s bottom line. Analyst Dick Bove trimmed
his 2008 estimate for the bank to $4.34 a share from $4.80 a share, and for 2009
to $5.14 a share from $5.64 a share. Bove added that he believed that if former
Morgan chief executive Phil Purcell were still in charge, the bank would be in
better shape. “It is quite possible that had Mr. Purcell remained in charge,
Morgan Stanley would not have suffered a disastrous loss in the fourth quarter
last year; its earnings would be much higher at present; and the firm would be in
very strong position relative to its industry and not looking at a possible
rating cut by Moody’s,” Bove wrote in a research note.

Possibly Related Posts:

• US debt clock runs out of digits —- BBCNews
• US to buy stake in banks; first since Depression
• A Great 2008-2009 Depression
• the fear is still there - doubt it will be gone by monday.
• Quote by Thomas Jefferson “If a Central Bank is ever created in America- Through Inflation and Deflation the “Bankers” will Rob The Americans”

Comments