Market Ticker

Translate

Wednesday, December 3, 2008

Goldman and Morgan Stanley Q4 may be ugly: analyst

Goldman may post a huge loss of $5.14 a share for the quarter, while Morgan Stanley is likely to report a loss of 46 cents a share, analyst Kenneth Worthington said.

Worthington was the latest among Wall Street analysts to turn more downbeat on Goldman Sachs and Morgan Stanley.

For the quarter, he expects gross write-downs of about $3.5 billion at Goldman Sachs and about $5.5 billion at Morgan Stanley.

Morgan Stanley, however, will benefit by about $4 billion due to the spread widening on its own
debt, he said. This is more than the $0.5 billion benefit the analyst expects at Goldman.

Goldman has been widely expected to post its first quarterly loss since going public in 1999. Poor market conditions got even worse last month as the US Treasury abandoned its proposal to buy hard-to-trade mortgage securities and other debt from hard-hit
banks.

No comments:

Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jun 26
18:00 Continuing Jobless Claims 1 1.974M 1.950M 1.937M Revised from 1.945M
18:00 Initial Jobless Claims 4-week average 1 245.00K 245.75K Revised from 245.50K
18:00 Initial Jobless Claims 2 236K 245K 245K
18:00 Chicago Fed National Activity Index 1 -0.28 -0.25
18:30 Fed's Hammack speech 2
19:30 Pending Home Sales (MoM) 2 -0.3% -6.3%
19:30 Pending Home Sales (YoY) 1 -2.5%
20:00 EIA Natural Gas Storage Change 1 88B 95B
20:00 BoE's Lombardelli speech 2
20:30 Kansas Fed Manufacturing Activity 1 -10
Economic Calendar >> Add to your site

Best Mutual Funds

Recent Posts

Search This Blog

IPO's Calendar

Market Screener

NSE BSE Tiker

Custom Pivot Calculator

Popular Posts

Market & MF Screener