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Merrill Lynch drops on warning rumors
NEW YORK (Reuters) - Shares of Merrill Lynch & Co (MER.N: Quote, Profile, Research, Stock Buzz) dropped more than 4 percent to $36.10 before the bell on Friday, a drop that traders in the United States and Europe said stemmed from market rumors that the U.S. brokerage will issue a profit warning. A company spokeswoman declined to comment.
Besides Merrill, there were other standout decliners in the financial sector before the open on Friday.
Shares of Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) were down 2.3 percent at $23.90, while Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) shares fell 1.3 percent to $39.68. Shares of Citigroup (C.N: Quote, Profile, Research, Stock Buzz) declined 1.8 percent at $19.80.
(Reporting by Ellis Mnyandu; Editing by Jan Paschal)
www.reuters.com/article/hotStocksNews/idUSN2043910520080620
Merrill Lynch drops on warning rumors
NEW YORK (Reuters) - Shares of Merrill Lynch & Co (MER.N: Quote, Profile, Research, Stock Buzz) dropped more than 4 percent to $36.10 before the bell on Friday, a drop that traders in the United States and Europe said stemmed from market rumors that the U.S. brokerage will issue a profit warning. A company spokeswoman declined to comment.
Besides Merrill, there were other standout decliners in the financial sector before the open on Friday.
Shares of Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) were down 2.3 percent at $23.90, while Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) shares fell 1.3 percent to $39.68. Shares of Citigroup (C.N: Quote, Profile, Research, Stock Buzz) declined 1.8 percent at $19.80.
(Reporting by Ellis Mnyandu; Editing by Jan Paschal)
www.reuters.com/article/hotStocksNews/idUSN2043910520080620
You only learn who has been swimming naked when the tide goes out - W.Buffett

