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Pastimes : 100 Acre Wood -- Ignore unavailable to you. Want to Upgrade?

To: Lost1 who wrote (773)	5/2/2002 12:17:50 PM
From: Lost1	Read Replies (1) \| Respond to of 3287

RESEARCH ALERT-JP Morgan cuts Wall Street estimates NEW YORK, May 2 (Reuters) - J.P. Morgan on Thursday lowered its earnings estimates for Wall Street firms Morgan Stanley (NYSE:MWD - news) and Goldman Sachs Group Inc. (NYSE:GS - news), citing a tough equity trading environment. J.P. Morgan cut its 2002 earnings per share estimate for Morgan Stanley to $3.35 from $3.45. J.P. Morgan cut its 2002 EPS estimate for Goldman to $4.28 from $4.40. "Equity volumes and volatility have declined from low (first-quarter) results and will likely create a more difficult trading environment," analyst Michael Freudenstein said in a research note. Morgan Stanley shares, which J.P. Morgan rates a "buy," were trading up 43 cents at $48.46. Shares of Goldman, which J.P. Morgan rates as "market perform,"