Bear Stearns cuts UBS, Deutsche Bank, Alliance & Leicester

Discussion in 'Stocks' started by ASusilovic, Nov 30, 2007.

  1. Bear Stearns said it expects further significant write-downs at UBS due to its exposure to subprime mortgages. The broker is forecasting a write-down of $2 billion to $3 billion in the fourth quarter and a further $5 billion in 2008, resulting in a 36% cut in its 2008 earnings forecast. Subprime exposure is not a major issue for Deutsche Bank, but its fixed income revenue will come under pressure from the deteriorating market conditions in 2008, Bear Stearns said. It added that it expects Alliance & Leicester to struggle against negative metrics for the mortgage industry and a slowdown in corporate momentum.

    What a coincidence while ES is spiking in three sessions...
  2. Manni



    Banks need to reveal all the crap they're holding and put an end to this.
  3. petteri


    Problem is that no-one knows which equities are crap.

    There is no efficient bond market so correct pricing is difficult.