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Maxcor Financial Group (MAXF) Message Board

  • dabmu dabmu Jul 16, 2002 8:50 AM Flag

    Sector Revenue Drops

    Interesting that MER had a significant revenue drop (though they cut costs to boost earnings). So MAXF's revenue figure down 5% year over year is not bad. And MAXF is actually setting the stage for growth instead of cutting back.

    A better market would reward MAXF's preannouncement nicely. In this chaos, who knows. I am still taking the long-term view on this stock, certainly not worth selling at $5 by any means.
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    Merrill's second-quarter revenue fell 11 percent to $4.9 billion. Expenses dropped 15 percent to $4 billion. Merrill's shares have dropped 29 percent this year. At the end of the second quarter, Merrill had 54,600 employees, a decline of 1,800 from the first quarter and 2,800 since the beginning of the year. The company eliminated about 15,000 jobs last year.