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Merrill May Take $5.4B In Q2 Writeoffs: Lehman
Forbes Markets
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2
6-27-2008 8:58 AM
405 views
tags:
merrill lynch
,
banking
,
credit crunch
Forbes Markets
says:
More ouch.
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/67d0b78f-f391-4417-99d7-01977652f4d6/B0E344E2-5188-4A53-979F-9FD1DFFDB6F7/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.reuters.com/article/ousiv/idUSBNG19253620080627" href="http://www.reuters.com/article/ousiv/idUSBNG19253620080627" style="font-size: 11px;">www.reuters.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/article/ousiv/idUSBNG19253620080627"><P>Merrill Lynch & Co (MER.N: <A href="http://www.reuters.com/stocks/quote?symbol=MER.N">Quote</A>, <A href="http://www.reuters.com/stocks/companyProfile?symbol=MER.N">Profile</A>, <A href="http://www.reuters.com/stocks/researchReports?symbol=MER.N">Research</A>, <A href="http://reuters.socialpicks.com/stock/r/MER">Stock Buzz</A>) will likely incur $5.4 billion of write-downs in the second quarter, mainly from its exposure to monolines, said an analyst at Lehman Brothers, who also saw higher quarterly losses at the world's largest brokerage.<SPAN id="midArticle_byline"></SPAN></P><SPAN id="midArticle_0"></SPAN> <P>Analyst Roger Freeman raised his write-down view by $3 billion for Merrill, making his estimate the highest among Wall Street analysts. Analysts have till date expected write-downs to range from $3.5 billion to $4.2 billion.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/B0E344E2-5188-4A53-979F-9FD1DFFDB6F7/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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