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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: Sharck who wrote (29442)	6/26/2001 7:19:23 AM
From: puborectalis	Read Replies (1) \| Respond to of 37746

MER down $6...futures tanking.....Brokerage firm Merrill Lynch warned Tuesday that its second-quarter earnings will be well below forecasts. The company said its revenue will come in below the figure for the first three months of 2001.

To: Sharck who wrote (29442)	6/26/2001 7:20:53 AM
From: puborectalis	Read Replies (1) \| Respond to of 37746

Merrill Lynch warns of Q2 shortfall (MER) By Tomi Kilgore Merrill Lynch (MER) warned that second-quarter earnings will be "significantly" below consensus analysts expectations due to weak market conditions, primarily in equity and debt trading. The investment banking giant expects to report earnings of 52 to 57 cents per share, while analysts surveyed by First Call/Thomson Financial had pegged EPS at 82 cents. Revenue for the period is expected to be approximately 15 percent below the $6.4 billion reported in the sequential first quarter, while analysts surveyed by Multex had been forecasting a 6.1 percent decline, on average. "While we are disappointed with the quarter's results to date, they are set against the backdrop of very difficult market conditions, particularly in our secondary equity business," said David Komansky, Merrill's chairman and chief executive. "Although the outlook for third-quarter revenues remains weak, we are making solid progress on resource allocation and expense-reduction initiatives." The stock closed Monday down 53 cents at $66.45.