Investment bank was pretty good all in. Transaction services had strong revenue, but earnings fell on higher expenses and credit costs. Smith Barney and private banking were okay, but not as good as Merrill.
More Quotes from Glenn Schorr:
No sugar-coating -- the loss of Marge is disappointing.Glenn Schorr
The big standout was US cards -- weak even excluding the charge, due to margin compression and a big drop in receivables.
Glenn Schorr
Because of their focused and deep business strategy, concentrating only on transactions, Ameritrade would make an easier transition into a more diversified financial company,
Glenn Schorr
It's tough to put in words how good a quarter it was -- but we'll try. Not only was the absolute number huge, beating estimates by 2, but diversity was great, with just about every business line putting up a record.
Glenn Schorr
There appears to be some low-hanging fruit across the organization on the cost side. It will be taking a smart look at wasteful costs that have built up over the years.
Glenn Schorr
The risk here is that some shareholders decide to sell to diversify their portfolios despite the favorable outlook for the company,
Glenn Schorr
Readers Who Like This Quotation Also Like:
Based on Topics: Finance Quotes, Investment QuotesBased on Keywords: merrill
There's always the tendency to transform the Church into an ethical agency, and of measuring the Church by the yardstick of social and cultural utility.
Karl Lehmann
I will never again stand on the pitch as a professional player. But I won't stop playing the game.
Hidetoshi Nakata
Accuracy is to a newspaper what virtue is to a lady, but a newspaper can always print a retraction.
Charles Revson