Meredith Whitney Whacks Estimates On Goldman And Morgan Stanley Sending Shares Lower

meredith whitney

It’s shaping up to be an ugly day for financials.

In addition to Citi’s woes, we have Meredith Whitney whacking estimates on Goldman Sachs (GS) and Morgan Stanley (MS).

Bloomberg: The analyst, who runs Meredith Whitney Advisory Group, now projects Goldman Sachs will earn $19.57 a share in 2009, $19.65 in 2010 and $20.60 in 2011. Those were reduced from $19.95, $21.73 and $24.04, respectively.

Morgan Stanley’s projection for 2010 was cut to $2.60 a share from $2.63, while the 2011 forecast was reduced to $2.75 from $3.28.

Read more at Bloomberg >>

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at