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Analyst sees Merrill, Morgan facing big headwinds
By Riley McDermid, MarketWatch
Last Update: 6/30/2008 4:58:00 PM
NEW YORK (MarketWatch) — Wall Street’s bearish drumbeat goes on.
In the latest episode, Ladenburg Thalmann & Co. cut estimates for Merrill Lynch &
Co. Inc. and Morgan Stanley on Monday, joining a chorus of analysts predicting
the two besieged banks will face serious headwinds [...]

NEW YORK (MarketWatch) - Ladenburg Thalmann on Monday said Merrill Lynch & Co.
Inc. will have to raise equity in the third quarter and could be forced to unload
20% of its stake in Bloomberg, analyst Dick Bove predicted. Bove estimated
Merrill would sell its holdings in Bloomberg for $1 billion, which would solve
any current capital issues, and [...]

By Harry Wilson
Of FINANCIAL NEWS
Barclays Capital, Citigroup and Deutsche Bank were among the worst hit banks in
Europe in the first half of this year as investment banking fees dropped by more
than a third in the wake of the credit crisis.
The three banks each lost market share in investment banking and saw their fees
fall by more [...]

By Jed Horowitz
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)–Enough already with the cliches about the perfect storm.
For the big investment banks, it’s almost a cataclysm.
Let’s start with the basics. When the broad equity market suffers, brokerage
stocks inevitably do worse. (When it rains on the market, in that storm analogy,
it [...]

* American International Group (AIG) said it will take $5 billion in losses of sales of investments from a dozen insurance units hurt by the subprime situation. AIG plans to inject some capital into these subsidiaries, according to Christopher Swift, vice president for life and retirement services.
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