Merrill Lynch
Merrill Lynch
Merrill Lynch Wealth Management is the wealth management division of Bank of America. The firm is headquartered in New York City, and occupies the entire 34 stories of the Four World Financial Center building in Manhattan. Merrill Lynch employs over 15,000 financial advisors and manages $2.2 trillion in client assets...
appears line market relief statement trading
Compass' statement should be a relief to the market as trading appears to be in line with expectations.
france guidance light line market previous surprise
This is in line with the market consensus, but we think there will be a surprise that the guidance is not disappointing in the light of France Telecom and previous experiences with KPN.
concerns continue expect holiday performance remain season volatile
We expect group's performance to continue to be volatile as concerns about a promotional and lackluster holiday season remain the near-term focus.
banks beating continued cost european revenue trend
BNP Paribas has continued the trend of European banks beating at revenue level, but experiencing significant cost growth.
changes driving industry profound
Technology, demographics and industry consolidation are driving profound changes in the private-client business.
absence assets auto exception further gm items questions remain sales turnaround underlying
Questions remain about the sustainability of the turnaround at Fiat Auto and profitability of underlying business, in the absence of further exception items (like assets sales and the GM one off gain).
drive growth level model nearly rapid reached replace third volume
PSA will replace nearly one third of its model line-up in 2006, which should drive more rapid volume growth in 2006 than the pedestrian level reached in 2005.
accounting believe mike reason
We believe CFO Mike Lehman is one of the most conservative on the Street, and we have no reason to believe there are any accounting irregularities at the company.
basically wish
(They are) basically doing all the right things. This is a bull's wish list.
bonds both coming major market outcome reflected seemingly stocks
This outcome was the likeliest coming in and already seemingly reflected in markets; both bonds and stocks may be marginally disappointed (for different reasons), but there are no major market implications, in our view.
believe given goodwill incumbent last operators players taken wireless
We believe that the goodwill impairment is unsurprising given most of the other incumbent operators and wireless players have already taken these impairments for overpaying for acquisitions during the last 1990s.
believe quarters required support
We believe Yahoo! is 'priced to perfection,' and that near-flawless quarters are required to support its multiple.
generic largely launch main market negative risk ruling timing
In our view, the risk of negative ruling was largely factored into market expectations with the timing of a generic launch being the main issue.
believe bullish gold medium outweigh remain term
We remain bullish on gold over the medium to long term and believe that the arguments for gold outweigh the arguments against.