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Non-Tech : Penny for your thoughts,...
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From: Fiscally Conservative10/5/2007 9:23:52 PM
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Merrill Lynch & Co., the world's largest brokerage, will report its first quarterly loss since 2001 and faces ``continued challenges'' in credit markets the rest of this year.

The 50 cents-a-share loss for the three months ended Sept. 28 resulted from about $5 billion of writedowns on mortgages, asset-backed securities and loans for leveraged buyouts, Merrill said in a statement today. It's the biggest such charge in the New York-based firm's history. Merrill shares, which fell 20 percent this year, rose 2.5 percent in New York Stock Exchange composite trading.

bloomberg.com
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