This is an orderly belt-tightening. Expense growth has been overshadowed by strong revenue growth, ... What is really driving the issue here is that even the most optimistic firms cannot expect to sustain revenue growth at these levels.
It looks like [the shortfall] was purely in the fixed-income area.
Merrill is certainly one of the most attractive of the brokerage firms in the industry and it would be a nice set with Chase on paper in terms of product line. Merrill is at the top of the rumor list relative to Chase.
For a time, Merrill lost sight of where it was going.
There is continued takeover speculation surrounding the entire group. I suspect that is the primary reason moving the stock.
I view this as putting smaller portfolios into incubators to wait for them to be hatched into higher revenue accounts, ... But lost accounts is precisely the risk that Merrill Lynch runs with this strategy.
This is a wonderful example of how technology can be used to connect students and teachers to develop a quality educational program during difficult times.
Increasingly, firms have been adding expensive technology supports and perhaps haven't seen the real benefit of it, ... In the face of perhaps a slower revenue growth in the future, (profit) margins could become strained.
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