Thursday, April 17, 2008

Merrill

* The company's Q1 loss was $2.19 per share.
* The value of its portfolio of CDOs was written down by $1.5 bln.
* The company wrote down the value of Alt-A securities by $3.5 bln.
* Leveraged loans were written down by $925 mln.
* The company took a $3 bln loss on hedges with monoline insurers.
* The comapny's net loss excluded a $3.1 bln decline in the value of securities held in the firm's US bank which it intends to hold to maturity.
* Moody's said it may cut Merrill's rating again.
* Merrill indicated it might be open to raising more capital.
* The company announced it would cut another 3000 employees.

Apture