BNET Industries
Merrill Lynch & Co. Inc. (MER) is in the Financial Services Industry
- Revenue
- Dec 28 2007
- $62.6B
- Profit
- Dec 28 2007
- ($7.7B)
- Market Cap
- Jul 23 2008
- $33.2B
Latest News and Analysis
SEC, Fed Push For Authority Over Investment Banks
By Patrick Rucker and Rachelle Younglai WASHINGTON (Reuters) - The head of the U.S. Securities and Exchange Commission on Thursday urged Congress to give his agency authority to oversee investment banks, even as a top Federal Reserve official said the central bank needed...
Los Angeles Sues Wall St Banks, Bond Insurers
CHICAGO (Reuters) - The city of Los Angeles sued more than 30 municipal bond insurers and Wall Street investment banks, accusing them of fraud and antitrust that it said cost taxpayers millions of dollars. The city, which like other cities, U.S. states and...
National City Has $1.76 Billion Loss
NEW YORK (Reuters) - National City Corp NCC, a large U.S. Midwest regional bank, on Thursday posted a $1.76 billion loss, hurt by soaring losses on mortgage and real estate construction loans and a write-down for acquisitions. The fourth straight quarterly loss for...
Bank Bailouts or Bull?
Mike Stathis submits: With all that's happened with the real estate and banking crisis, the word "bailout" has been plastered throughout the media with little discussion of exactly what a bailout entails. Supplying money to a distressed company does not by itself represent a bailout. It all depends on where...
Citi, Merrill, WaMu: Death Spiral Financing
Michael Shedlock submits: Reuters is reporting WaMu has $3.33 bln loss, may be cut to "junk". Washington Mutual Inc, the largest U.S. savings and loan, posted a $3.33 billion second-quarter loss on Tuesday as souring mortgages forced it to set aside more money for loan losses. ... by Michael...
Financials... Is It for Real?
Todd Sullivan submits: I think it depends on what you own... Just as I am skeptical when something falls 49% in a couple days barring extreme circumstances, I am equally un-enthused when the converse happens. by Todd Sullivan
The SEC's 'Sacred Cow' List: Where Are WaMu and Wachovia?
Mark McHugh submits: When I heard that the SEC was going to shake its proverbial finger at short sellers and threaten to do its job, I didn’t exactly rush to see who was on the “Sacred Cow” list. No brainer, right? Big regional and money center banks, the shakiest of...
Merrill's Ability to Negotiate Cheap Lease Key to Future Success
Paul Frischer submits: New York Downtown commercial real estate takes center stage with Merrill Lynch MER in crises mode pitted against real estate developer Mr. Silverstein and landlord Brookfield Properties. As Mr. Bernanke mulls his decision on Fed Funds, it will be compelling to measure Merrill’s move with headline inflation...
If This Comes True, You'll Be Glad You Own Gold & Silver
Marc Courtenay submits: You'll be happy you own gold and silver once you read this, compliments of our associates at Stansberry Research and the S&A Digest: "Sovereign wealth funds," foreign government investment pools, are dumping the dollar. One big fund in the Persian Gulf has cut its dollar-denominated holdings from...
Mother of All Short Squeezes?
Matt Blackman submits: Tuesday’s action by the SEC in amending Regulation Short Sales RegSHO listed 19 banks and financial companies for which naked shorting was effectively banned for 30 days. Such a limit was long overdue but why limit the restriction to just 19 companies and just 30 days? ...
Short Sales: SEC Turns Back the Clock to 1931
This past week, the SEC issued an emergency order prohibiting naked short selling in 19 financial stocks, including Fannie Mae FNM, Freddie Mac FRE, Lehman Brothers LEH and other names in the news. Beginning on Monday (July 21), it won’t be enough to make a good-faith effort to locate...
Citigroup Losses Better Than Expected
By Jonathan Stempel and Dan Wilchins NEW YORK (Reuters UK) - Citigroup C posted a smaller-than-expected quarterly loss, despite $11.7 billion (5.85 billion pounds) of write-downs and credit losses tied to deteriorating capital markets and a slumping economy. Though the second-quarter loss totalled $2.5 billion, the...
Citigroup $2.5 Billion Loss Soothes Investors
By Jonathan Stempel and Dan Wilchins NEW YORK (Reuters) - Citigroup Inc C posted a smaller-than-expected quarterly loss, despite $11.7 billion of write-downs and credit losses tied to deteriorating capital markets and a slumping economy. Though the second-quarter loss totaled $2.5 billion, the...
Analysts See Much Higher 2008 Loss For Merrill
By Supantha Mukherjee BANGALORE (Reuters) - Wall Street analysts widened their 2008 loss estimates for Merrill Lynch & Co MER on Friday, a day after the investment bank posted a quarterly loss much bigger than market expectations and unveiled plans to sell ...
Merrill Lynch confirms Bloomberg buyback amid losses
Bloomberg has bought back a 20% stake controlled by Merrill Lynch for USD4.4bn, says the investment bank confirming recent media reports. The financial news agency has borrowed capital from Merrill to complete the transaction. The announcement comes as Merrill is...
As Merrill Reports, Short Squeeze in Financials Continues
Michael Shedlock submits: MarketWatch is reporting Merrill reports $4.65 billion quarterly net loss. The firm also said it agreed to sell its 20% stake in Bloomberg LP back to the media company for $4.425 billion. It also plans to sell a controlling interest in its Financial Data Services...
How High Leverage Has Brought Down the Whole Banking Industry
On Tuesday, as S&P briefly touched $1,200, the banking sector represented by KBW Bank Index [BKX] or other similar indices went down to $47 (which had been range bound and traded around $75-90 early this year), and VIX reached $30, it seemed that the stock market was under capitulation similar...
Merrill May Still Sell BlackRock, CreditSights Says
NEW YORK (Reuters) - Merrill Lynch & Co MER may still be forced to sell its valuable stake in fund manager BlackRock to bolster its balance sheet, research firm CreditSights said in a report. Merrill, Wall Street's third-largest investment bank, posted...
Financial Recovery? Time to Wait and See
Gold Digger submits: In my previous post, I commented on Freddie FRE, Fannie FNM and Lehman Brothers LEH. Investors who were willing to accept my analysis at that time must have made good returns till this Friday. I think now is a good time to book your profits and exit...
Merrill Lynch: Making a Mistake With Bloomberg
Macro Man submits: Macro Man rarely writes about single name stocks, because that's not his area of relative expertise. He's not called "Micro Man" for a reason. On occasion, however, developments in a single name can have broader macro repercussions - Fannie FNM and Freddie FRE, or Northern Rock...
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- Incorporated: 1973
- CEO: Mr. John A. Thain
- Employees: 64,200
Merrill Lynch & Company is a holding company that, through its subsidiaries, is engaged in the provision of capital markets, advisory and wealth management products and services. As of Dec 28 2007, Co.'s operations were organized into two business segments: Global Markets and Investment Banking (GMI); and Global Wealth Management (GWM). GMI provides global markets and origination products and services to corporate, institutional, and government clients around the world. GWM creates and distributes investment products and services for individuals, small- and mid-size businesses, and employee benefit plans. As of Dec 28 2007, Co. had total assets of $1.02 trillion.
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Merrill Lynch & Co. Inc. Company Info
Board of Directors
Mr. John A. Thain
Chairman
Mr. John D. Finnegan
Admiral Joseph W. Prueher
Ms. Ann N. Reese
Ms. Rosemary T. Berkery
Vice-Chairman
Ms. Carol Tecla Christ
Mr. Armando M. Codina
Dame Judith Mayhew Jonas
Mr. Virgis W. Colbert
Mr. Alberto Cribiore
Ms. Aulana L. Peters
Mr. Charles O. Rossotti
Contact Information
4 World Financial Center
New York, NY
212 449-1000
NAICS Code
Miscellaneous Financial Investment Activities: 523999Brought to you by IBMSponsored Resources
