Merrill Lynch predicts Q2 earnings down 50%

Merrill Lynch issued earnings warnings and predicted that the Q2 earnings would drop 50%, with per share earnings estimated to stand around 52-57 US cents, far below the market-expected 82 US cents. The stock once slumped 7% after the release of warnings.

Its CEO David Komansky said that the Q3 income outlook remained weak, and the company would beef up efforts in strengthening resources allotment management and cutting cost.

Related stock : (NIL)