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.
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