(Reuters) - The company easily beat earnings and revenue estimates. Merrill Lynch shares are down 6 percent this year. They rose more than 2 percent immediately after the company released its results, but the stock eased slightly in midday trading.
Merrill Lynch Chief Financial Officer Jeff Edwards said the company is diversified enough that it can overcome a still-shaky market for subprime mortgages and collateralized debt obligations. The company is a leading collateralized debt obligation underwriter and participates in subprime lending through its First Franklin Financial franchise.
Read more at Reuters.com Market News
Merrill Lynch Chief Financial Officer Jeff Edwards said the company is diversified enough that it can overcome a still-shaky market for subprime mortgages and collateralized debt obligations. The company is a leading collateralized debt obligation underwriter and participates in subprime lending through its First Franklin Financial franchise.
Read more at Reuters.com Market News
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