![]()
- US Markets Bracing for Selloff on Dubai Debt Worries
- Dubai Struggles to Ease Debt Fears; Investors Rattled
- US Dollar Falls to 14-Year Low Against the Yen
- UK's Darling to Downgrade 2009 Growth Forecast
- US Companies Already Moving on Curbing Emissions
- Fannie Mae to Tighten Lending Standards: Report
- Investing in Good Karma – and Making a Profit
- Retailers Should Believe in Christmas Miracles
- Bankruptcies Jump, Hitting Highest Level in Four Years
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
MOST SHARED
- Kuoni CEO Sees Recovery in Travel Sector
- Dubai Struggles to Ease Debt Fears; Investors Rattled
- Gold Retreats from Record High as Dollar Rebounds
- China Unveils Carbon Target Ahead of Copenhagen
- Euro Shares Record Biggest Drop in 7 Months
- No Thanksgiving Rest for Retailers in Sales Race
- Hyundai-Kia Targets Rapid China Growth in 2010
- Great Britain, No Longer That Great: Investor
- Fannie Mae to Tighten Lending Standards: Report
- US Markets Bracing for Selloff On Worries About Dubai's Debt
Banc of America Securities expects Merrill Lynch and UBS to write down $3.5 billion and $7 billion respectively in the second quarter and forecast a quarterly loss for the investment banks.
Analyst Michael Hecht expects continued markdowns on troubled asset inventories, tough comparisons and weakness in a number of sales and trading areas for the second quarter.
Hecht forecast a quarterly loss of $1 a share for Merrill [MER
Loading...
()
], compared with his earlier view of a profit of 21 cents a share, saying the marks on its collateralized debt obligations and mortgage-related exposures would be more severe than prior expectations.
Hecht also changed his second-quarter estimate for UBS to a loss of $1.70 a share from a profit of 31 cents, saying the company's U.S. sub-prime exposure had overshadowed the firm's other segments including wealth management, investment banking and asset management.
Slowing economic growth and still-large balance sheet exposure to residential and commercial mortgages suggest a lackluster, low visibility environment for the large investment banks through 2008, Hecht said.
- What you need to know.
- Ever wished your cab driver would stop nattering and just get to where you're going? Well that moment is near(er).
- Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.












