Morgan Stanley and The Goldman Sachs Group Inc. both had their fourth-quarter estimates cut by analysts in research notes published today.
Sanford C. Bernstein & Co. LLC analyst Brad Hintz forecast a loss of 54 cents per share for Goldman Sachs after preciously estimating a profit of $2.12 per share.
As for Morgan Stanley of New York, Mr. Hintz forecasts a profit of 30 cents per share for the fourth quarter, down from his previous estimate of $1.12 per share.
He is more optimistic about Morgan Stanley than New York-based Goldman Sachs since it has “greater revenue diversification, lower reliance on capital-intensive trading revenues and the earnings stability that its retail brokerage business provides.”
Sanford C. Bernstein & Co. LLC is a subsidiary of New York-based Alliance Bernstein LP.
Prashant A. Bhatia, an analyst at New York-based Citigroup Inc., predicted a fiscal fourth-quarter loss of $1.60 per share for Goldman Sachs Group Inc. and $4 billion in write-downs, after a previous estimate of a $3.70 a share profit.
For Morgan Stanley, Mr. Bhatia is predicting a loss of 5 cents a share and $2 billion in write-downs, compared with a previous estimate of a 75 cents-per-share profit.
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