Merrill Lynch reported a fourth-quarter net loss of $9.8 billion, or $12.01 a share, the largest in the company's history. That eclipses the company's $2.3 billion loss in the previous quarter.
Thursday, January 17, 2008
Merrill Lynch loses $9.8 billion in Q4
Merrill Lynch & Co Inc on Thursday said it took a $14.1 billion write-down in the fourth quarter on bad subprime mortgage bets plus other charges that have forced the brokerage to sell pieces of the company to foreign investors to raise capital.
Merrill Lynch reported a fourth-quarter net loss of $9.8 billion, or $12.01 a share, the largest in the company's history. That eclipses the company's $2.3 billion loss in the previous quarter.
Merrill Lynch reported a fourth-quarter net loss of $9.8 billion, or $12.01 a share, the largest in the company's history. That eclipses the company's $2.3 billion loss in the previous quarter.
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