35 minutes ago NEW YORK (Reuters) - Merrill Lynch & Co reported a third-quarter net loss of $7.5 billion on Thursday -- worse than analysts had expected -- on write-downs and credit losses on complex debt securities.The brokerage house, which last month accepted a takeover bid from Bank of America Corp, also said it would issue $10 billion of non-voting preferred stock and related warrants to the U.S. Treasury under the government program that gave Bank of America a $25 billion capital injection earlier this month.
In addition, because of the Bank of America deal, Merrill said it was no longer seeking to sell a controlling stake in its Financial Data Services subsidiary.
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