Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ggersh who wrote (93442)	4/11/2008 8:50:30 AM
From: Paul Kern	Read Replies (3) \| Respond to of 110194

WaMu Estimate Cut by Goldman; Short Sell Recommended (Correct) By Andrew Frye Enlarge Image/Details (Corrects company name in the third paragraph to TPG Inc.) April 11 (Bloomberg) -- Washington Mutual Inc., the largest U.S. savings and loan, had its earnings estimate cut by Goldman Sachs Group Inc. analysts, who recommended selling the shares short. The lender declined 5.9 percent in early trading. Washington Mutual will probably lose $3.30 a share this year, Goldman Sachs analysts, including New York-based James Fotheringham, said today in a note to investors. Goldman previously forecast a 2008 loss of $1 a share for the Seattle- based company. The lender raised $7 billion this week from a group of investors led by David Bonderman's TPG Inc. after losses on subprime loans ate up capital. Washington Mutual may have a total of $23 billion in mortgage-related losses, Goldman said today. The firm cut its 12-month price target on shares of Washington Mutual, also known as WaMu, by 17 percent to $10. ``Given WaMu's disproportionate exposure to states'' where home prices are forecast to decline, Goldman expects losses between $17 billion and $23 billion, the analysts wrote. To contact the reporter on this story: Andrew Frye in New York at afrye@bloomberg.net Last Updated: April 11, 2008 08:45 EDT