Merril Lynch Posts $4.65 Billion 2nd Qtr Loss

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  • DateDoc
    Outside looking in.
    • Feb 2005
    • 14243
    #1

    Merril Lynch Posts $4.65 Billion 2nd Qtr Loss

    SAN FRANCISCO (MarketWatch) - Merrill Lynch & Co. reported a $4.65 billion second-quarter net loss late Thursday as the brokerage firm continued to be hit by write-downs on large mortgage-related exposures. Merrill said it lost $4.65 billion, or $4.97 a share, during the second quarter, compared to net income of $2.14 billion, or $2.24 a share, in the same period a year earlier.

    http://www.marketwatch.com/news/stor...7D&siteid=bnbh
    Tags: None
    • crockett
      in a van by the river
      • May 2003
      • 76818
      #2
      Those idiots should have posted that on a Friday after the bell to give the market the weekend to get over the shock. Unless they want to let the short sellers have a ball Friday morning.
      In November, you can vote for America's next president or its first dictator.

        Comment

        • Drake
          Hello world!
          • Mar 2003
          • 12508
          #3
          Ouch....

            Comment

            • GetSCORECash
              Confirmed User
              • Mar 2008
              • 5527
              #4
              I own MER. it's already down in after tradeing, 28.80 -1.93 (-6.28%)

              I bet you it's going to bring down all the financials with it.
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                Comment

                • DateDoc
                  Outside looking in.
                  • Feb 2005
                  • 14243
                  #5
                  Originally posted by SCORE-Cash
                  I own MER. it's already down in after tradeing, 28.80 -1.93 (-6.28%)

                  I bet you it's going to bring down all the financials with it.
                  It sure will.

                    Comment

                    • ProducerCashDave
                      Confirmed User
                      • Jun 2006
                      • 3983
                      #6
                      Thats a lot of cheese.
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                        Comment

                        • crockett
                          in a van by the river
                          • May 2003
                          • 76818
                          #7
                          Originally posted by SCORE-Cash
                          I own MER. it's already down in after tradeing, 28.80 -1.93 (-6.28%)

                          I bet you it's going to bring down all the financials with it.
                          Yea it's gonna piss me off if it takes FRE down with it. I bought on a low yesterday and had a nice ride today. Hoping for a bit more before I sell.
                          In November, you can vote for America's next president or its first dictator.

                            Comment

                            • BlackCrayon
                              Too lazy to set a custom title
                              • Jun 2003
                              • 19634
                              #8
                              Its too bad shit like this effects everyone because these idiots made their own bed by giving out mortgages like candy.
                              you don't know you're wearing a leash if you sit by the peg all day..

                                Comment

                                • DateDoc
                                  Outside looking in.
                                  • Feb 2005
                                  • 14243
                                  #9
                                  Originally posted by crockett
                                  Yea it's gonna piss me off if it takes FRE down with it. I bought on a low yesterday and had a nice ride today. Hoping for a bit more before I sell.
                                  FRE is down 4.32% after hours and FNM 4.85%

                                    Comment

                                    • WebairGerard
                                      Confirmed User
                                      • Sep 2005
                                      • 8113
                                      #10
                                      wow now many of financials are gonna take a hit

                                        Comment

                                        • DateDoc
                                          Outside looking in.
                                          • Feb 2005
                                          • 14243
                                          #11
                                          Reuters is saying it is a $4.9 billion dollar loss. http://biz.yahoo.com/rb/080717/merri...ults.html?.v=4

                                            Comment

                                            • pornguy
                                              Too lazy to set a custom title
                                              • Mar 2003
                                              • 62910
                                              #12
                                              What did they expect?
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                                                Comment

                                                • Drake
                                                  Hello world!
                                                  • Mar 2003
                                                  • 12508
                                                  #13
                                                  In related news, the government bailing out Fannie and Freddie adds trillions to the national debt.

                                                  http://www.youtube.com/watch?v=rcIBFLSmVGA

                                                    Comment

                                                    • directfiesta
                                                      Too lazy to set a custom title
                                                      • Oct 2002
                                                      • 30176
                                                      #14
                                                      which countries will get the keys of the country ?
                                                      I know that Asspimple is stoopid ... As he says, it is a FACT !

                                                      But I can't figure out how he can breathe or type , at the same time ....

                                                        Comment

                                                        • DateDoc
                                                          Outside looking in.
                                                          • Feb 2005
                                                          • 14243
                                                          #15
                                                          Originally posted by directfiesta
                                                          which countries will get the keys of the country ?
                                                          All will be fine - just not in the next 6 mos.

                                                            Comment

                                                            • heymatty
                                                              Confirmed User
                                                              • Oct 2001
                                                              • 2188
                                                              #16
                                                              Google also took a big hit after hours, gonna be a rocky day for me tomorrow

                                                              Cashlantis ~ Black Book Cash

                                                                Comment

                                                                • Bliz
                                                                  Confirmed User
                                                                  • Sep 2001
                                                                  • 316
                                                                  #17
                                                                  No shit!!!

                                                                  My next door neighbor is the vice-president of a Merril Lynch brokerage. I was talking to him last week about the markets, and he was bragging about making a killing in oil. I figured they were doing great by talking to them. Maybe that explains why he lowered his head when I started talking about the housing and banking market.

                                                                    Comment

                                                                    • Dagwolf
                                                                      President of Canada
                                                                      • Sep 2003
                                                                      • 23141
                                                                      #18
                                                                      I wish I had enough money to experience losses that big.
                                                                      Sleep well, and dream of large women.

                                                                        Comment

                                                                        • Vendot
                                                                          Confirmed User
                                                                          • May 2002
                                                                          • 3376
                                                                          #19
                                                                          Originally posted by Mike33
                                                                          In related news, the government bailing out Fannie and Freddie adds trillions to the national debt.

                                                                          http://www.youtube.com/watch?v=rcIBFLSmVGA
                                                                          Haha........ you gotta love Jim Rogers.
                                                                          "In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell

                                                                            Comment

                                                                            • xmas13
                                                                              Confirmed User
                                                                              • Dec 2004
                                                                              • 5176
                                                                              #20
                                                                              So where are AZ/CA/NV/FL real estate investors? I thought you guys said economic fundamentals were so great, demographics so good, demand so high, money so cheap, supply of foreign suckers so large, prices would never go down.

                                                                              Huh?
                                                                              Last edited by xmas13; 07-18-2008, 01:42 AM.
                                                                              ICQ 557504926

                                                                                Comment

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