Oppenheimer Cuts Wall Street Earnings Outlook
Oppenheimer analyst Meredith Whitney cut her earnings outlook for full year 2008 and 2009 on
Goldman Sachs, Merrill Lynch, Lehman Brothers and Morgan Stanley by 41% on average for Q2 and 48% for the full year.
Whitney believes the outlook for financials is "far more bleak than reflected in the market.
With less than three weeks until the end of the fiscal second quarter, the global capital markets activity for the quarter shows continued weakness."
Goldman Sachs, Merrill Lynch, Lehman Brothers and Morgan Stanley by 41% on average for Q2 and 48% for the full year.
Whitney believes the outlook for financials is "far more bleak than reflected in the market.
With less than three weeks until the end of the fiscal second quarter, the global capital markets activity for the quarter shows continued weakness."
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