Earnings buzz building for broker dealers
Investment banks appear to be faring well still, and the buzz for a blowout quarter seems to be building. The Amex Securities Broker/Dealer Index hit an all-time high of 225.57 points last week. It's up 14 percent this year, 69 percent from its May trough. Analysts have been generally bullish on Goldman Sachs, Bear Stearns, Morgan Stanley and Lehman Brothers, all of whom will report in March. With these issues priced so rich, all disappointments will reverberate.
> Here's an Associated Press article.
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