Banking, finance, and taxes
Goldman Sachs Pans Merrill Lynch (MER, GS)
Published:
Last Updated:
Merrill Lynch & Co. Inc. (NYSE: MER) is trading down 6% or so in pre-market after Goldman Sachs downgraded the stock to a SELL rating and put shares on its Conviction Sell List. The firm says that it trades at the highest price-to-book multiple in the large cap brokerage firm universe. The firm also noted that Merrill Lynch has some of the most significant exposure to CDO’s, mortgages, and leveraged loans. Shares closed yesterday at $26.21 and are trading south of $25.00 this Friday in pre-market trading.
Just yesterday, Goldman Sachs (NYSE: GS) issued an SEC Filing showing trading losses in one of its hedge fund groups.
Jon C. Ogg
September 5, 2008
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
