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Traders work at the post that handles shares of Merrill Lynch on the floor of the New York Stock Exchange, July 29, 2008. Merrill Lynch & Co Inc shares fell 5 percent on Tuesday, after the bank said late Monday it was raising $8.5 billion of capital to offset losses from selling $30 billion of repackaged debt at a deep discount.
Traders work at the post that handles shares of Merrill Lynch on the floor of the New York Stock Exchange, July 29, 2008. Merrill Lynch & Co Inc shares fell 5 percent on Tuesday, after the bank said late Monday it was raising $8.5 billion of capital to offset losses from selling $30 billion of repackaged debt at a deep discount.
Traders gather at the post that trades Merrill Lynch on the floor of the New York Stock Exchange before the closing bell Tuesday July 29, 2008. Wall Street has rebounded smartly, sending the Dow Jones industrials up almost 267 points after another drop in oil prices and a rise in consumer confidence reassured an anxious market.
Traders gather at the post that handles shares of Merrill Lynch on the floor of the New York Stock Exchange Tuesday July 29, 2008. Merrill Lynch & Co. shares fell sharply in early trading Tuesday after the brokerage announced it would take a $5.7 billion write-down in the third quarter and unload a large slice of risky mortgage-backed securities. The plan to right Merrill's balance sheet was considered to be a negative for investors because it will raise $8.5 billion of new capital by issuing new shares. This dilutes the value of stakes held by existing shareholders.
Traders gather at the post that handles shares of Merrill Lynch on the floor of the New York Stock Exchange Tuesday July 29, 2008. Merrill Lynch & Co. shares fell sharply in early trading Tuesday after the brokerage announced it would take a $5.7 billion write-down in the third quarter and unload a large slice of risky mortgage-backed securities. The plan to right Merrill's balance sheet was considered to be a negative for investors because it will raise $8.5 billion of new capital by issuing new shares. This dilutes the value of stakes held by existing shareholders.
Traders gather at the post that handles shares of Merrill Lynch on the floor of the New York Stock Exchange Tuesday July 29, 2008. Merrill Lynch & Co. shares fell sharply in early trading Tuesday after the brokerage announced it would take a $5.7 billion write-down in the third quarter and unload a large slice of risky mortgage-backed securities. The plan to right Merrill's balance sheet was considered to be a negative for investors because it will raise $8.5 billion of new capital by issuing new shares. This dilutes the value of stakes held by existing shareholders.
Merrill Lynch Chief Executive Officer, John Thain, poses before a news conference in Mumbai May 7, 2008. The U.S. credit crisis is getting better and the risk in its housing market is dramatically lower than it was, but economic growth will remain under pressure over the next year, Thain said on Wednesday.
Merrill Lynch Chief Executive Officer, John Thain, poses before a news conference in Mumbai May 7, 2008. The U.S. credit crisis is getting better and the risk in its housing market is dramatically lower than it was, but economic growth will remain under pressure over the next year, Thain said on Wednesday.
Merrill Lynch Chief Executive Officer, John Thain, poses before a news conference in Mumbai May 7, 2008. The U.S. credit crisis is getting better and the risk in its housing market is dramatically lower than it was, but economic growth will remain under pressure over the next year, Thain said on Wednesday.