Merrill posts $2.3 billion loss on massive write-down
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Merrill Lynch & Co Inc  on Wednesday reported $7.9 billion in write-downs for the third-quarter -- triggering its first loss in six years -- as the company was burned by lax risk management and bad bets on mortgages and leveraged loans for corporate takeovers.
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Merrill Lynch & Co Inc  reported on Wednesday the biggest quarterly loss in its history after writing down $8.4 billion, mostly from bad investments related to risky subprime mortgages.
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The discount brokerage posted a larger-than-expected quarterly loss after a $2.2 billion charge related to the sale of its asset-backed securities portfolio.
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Merrill Lynch posted a loss of nearly $10 billion in connection with soured mortgage investments.
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Merrill Lynch, hit by huge subprime mortgage losses, said it would raise up to $6.2 billion in a private placement with Singaporeâs Temasek Holdings and Davis Selected Advisors.
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Merrill Lynch & Co  warned on Friday that shaky credit markets forced the world's largest brokerage to reduce the value of securities linked to risky subprime mortgages and other products, a move that could hurt third-quarter profit.
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- Citigroup expects a $15 billion fourth-quarter write-down at Merrill Lynch & Co Inc  and said CDO/subprime exposures will decline by 50 percent to 70 percent in aggregate.
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US investment bank Merrill Lynch &amp; Co. (MER.N: Quote, Profile, Research) on Tuesday said third-quarter profit fell 8 percent, hurt by reduced trading in
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Stocks fell on Wednesday as Merrill Lynch & Co. Inc  reported its first quarterly net loss in six years and earnings by Amazon.com Inc  disappointed investors.
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Merrill Lynch also took a write-down of more than $14 billion as subprime mortgage woes took another bite out of its balance sheet.
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MCI Inc.&#39;s (MCIP.O: Quote, Profile, Research) quarterly loss ballooned to $3.4 billion as the No. 2 US long-distance company wrote down the value of its assets due to
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Citigroup and Merrill Lynch each announced outside investments to shore up their ravaged balance sheets as Citigroup revealed a $18.1 billion write-down and a $9.83 billion fourth-quarter loss.
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MCI Inc., one of the nation&#39;s biggest long-distance operators, lost $3.4 billion in the third quarter of 2004 due to a previously announced asset writedown of $3.
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NOVEMBER 04, 2004 (IDG NEWS SERVICE) - MCI Inc. reported a $3.4 billion third-quarter loss today, due mainly to a write-off of the value of its assets, as the company&#39;s efforts to recover from bankruptcy were
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Sprint Corp. FON.N on Tuesday  reported a wider third-quarter loss due to a $3.5 billion  writedown in the value of its long-distance business.
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Merrill Lynch & Co Inc  reported about $16 billion in mortgage-related write-downs and adjustments on Thursday in the worst quarter of the company's history.
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Automaker Daimler AG, which sold off most of its stake in Chrysler this year, posted a loss of $2.18 billion for the third quarter on Thursday, largely because of write-offs related to the deal.