Wall Street's slump prompts scaled-back earnings forecasts

09/19/2010 | New York Times (tiered subscription model), The

Big financial companies were hit by a sharp slowdown in trading this summer, and analysts are cutting back their profit projections for the year. Wall Street's biggest moneymakers, securities trading and advice on mergers and acquisitions, are well off pace compared with last year, analysts said. Worldwide, bond sales are down 25% and stock offerings are off 15%, research firm Capital IQ said.

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New York Times (tiered subscription model), The

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