As Earnings Season Begins, Banks and Vendors Offer Little Hope for Recovery
SPECIAL REPORT
NEW YORK--For the second consecutive quarter, the securities marketplace offered a bleak outlook for the near future as several of the top US investment banks reported declining revenues and issued profit warnings last week. And as banks look to cut costs and become ever more cautious about spending, technology vendors in the sector showed signs of suffering as well.
Merrill Lynch signaled the strongest alarm to date, issuing a warning early last week that its second quarter revenues would fall
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