MarketWatch.com - Pre-Market Indications

Thursday, March 27, 2008

Pre Market Bank Downgrades

Oppenheimer Cuts More Financials (C)(JPM)(WB)(MER)(UBS)

A day after taking down its earnings forecasts for Citigroup (C), JP Morgan (JPM), and Wachovia (WB), Oppenheimer has cut its first quarter numbers on Merrill Lynch (MER) and UBS (UBS).

According to Reuters, MER and UBS "may suffer respective first-quarter write-downs of $6.03 billion and $11.06 billion, according to Oppenheimer & Co analyst Meredith Whitney."


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