Daiwa predicts big loss on foreign units' revamp

Article Abstract:

Daiwa Securities Co. announced that it is expecting to post a 105 billion yen ($892.6 million) pretax profit loss for the year ending on March 31, 1999. The reduced profits are attributed to the restructuing of Daiwa's operations overseas. Daiwa forecasts that its operations in Europe will see the company's biggest loss of 61 billion yen. The company is also expecting to post a loss of 41 billion yen in its US unit, as well as a 3 billion yen loss in its Asian-Pacific operations.

Comment:

Expecting to post 105 billion yen ($892.6 million) pretax profit loss for year ending March 31, 1999

Japan, Security brokers and dealers, Daiwa Securities Company Ltd.

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Bear Stearns's 4th-quarter earnings top forecasts

Article Abstract:

Bear Stearns Cos. posted earnings of $1.85 (1.78 euros) per share for the fourth-quarter ending on June 30, 1999. The company's figures exceeded by far the expectations of Wall Street. Strong trading volumes throughout the market helped Bear Stearns's figures. The company posted $269.1 million in earnings for the quarter. This represented a 56% increase over the same period in 1998.

Comment:

Posts higher-than-expected earnings of $1.85 (1.78 euros) per share for fourth-quarter ending June 30, 1999

United States, Bear Stearns Companies Inc.

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