Analysts at Keefe, Bruyette & Woods on Tuesday lowered their earnings estimates for Goldman Sachs Group Inc. and Morgan Stanley, saying they expect bigger charges to the balance sheets since markets have worsened significantly over the past month.
KBW slashed its fourth-quarter estimate on Morgan Stanley to a loss of 19 cents a share, from profit of 33 cents. Meanwhile, it forecast a loss of $3.81 a share for Goldman, compared with an expected loss of $2.10 a share, previously.
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