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wellst0nev0ter Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-15-03 12:41 PM
Original message
Merrill Lynch Profit Rises 61%
Merrill Lynch Profit Rises 61%
By REUTERS


Filed at 12:33 p.m. ET

NEW YORK (Reuters) - Merrill Lynch & Co. (MER.N), the top U.S. brokerage and a leading investment bank, on Tuesday said quarterly profit soared 61 percent, easily beating estimates amid strong bond trading and improved stock markets.

New York-based Merrill reported second-quarter net income of $1.02 billion, or $1.05 per share, compared with $634 million, or 66 cents, in the year-earlier period.

The firm's shares jumped about 5 percent, extending their rise to about 42 percent since the beginning of the year.

``We are effectively firing on all cylinders,'' Merrill's chief financial officer, Ahmass Fakahany, said on a conference call. ``Fixed-income was at record levels and very strong and continues to be so.''

http://www.nytimes.com/reuters/business/business-financ...

I see corporate criminals are still being rewarded - handsomely at that :eyes:
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fertilizeonarbusto Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-15-03 12:42 PM
Response to Original message
1. While we lose our shirts.
Eat the rich!
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WhoCountsTheVotes Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-15-03 01:16 PM
Response to Reply #1
5. Isn't this the Merrill Lynch that just got a slap on the wrist for fraud?
They were pushing fraudulent research to hype stocks they owned? They pawned them off on investors and laughed all the way to the bank? They got a fine, a few million dollars. That'll show them, heh.

Eat the rich? Tastes like chickenhawk...
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htuttle Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-15-03 12:43 PM
Response to Original message
2. You know what they say about gambling...
"The house always wins."

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wellst0nev0ter Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-15-03 01:06 PM
Response to Reply #2
4. The Golden Rule
Whoever has the gold makes the rules :grr:
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twilight Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-15-03 12:50 PM
Response to Original message
3. what about all those that LOSTa bundle?
I happen to know of some folks that had all of their assets with ML and they are/were crying the blues and I believe they took what was left and got the hell out of it.

So much for profits!

Merrill Lynch ...

Just another scam artist company IMO!

:dem:
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PROGRESSIVE1 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-15-03 04:03 PM
Response to Original message
6. See, The Economy is Getting "Better"!!!
Wall Street is getting richer by the second, and I'm not getting one cent!!! But it's getting "better" and that's all that Bushco wants us to think!!!

(satire)
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bluestateguy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-15-03 05:20 PM
Response to Original message
7. Good. Now hire back the people you guys laid off
They laid off over 5000 employees. Where can they go to reclaim their jobs?
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Torgo Donating Member (966 posts) Send PM | Profile | Ignore Tue Jul-15-03 05:33 PM
Response to Original message
8. How much you wanna bet? - No Federal Taxes!
I am quite sure ML will do all in it's power not to pay a dime in taxes.

When will the millions of little investor saps learn that they can't win!
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classics Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-15-03 06:34 PM
Response to Original message
9. Yeah baby ride that bubble.
Soak up the cash before it pops again.
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