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Security Firms Show Weakness Amid Merger Wave
New York NY AP reports lingering strains in the securities industry as mergers rise and profits slip. James Needham NYSE chairman calls it the valley of a business cycle while firms like Hayden, Stone Merrill Lynch and First Boston post sharp earnings declines.
MENTIONED IN THIS ARTICLE
NEW York
James Needham
New York Stock Exchange
Needham
NYSE
Hayden, Stone, Inc
Merrill Lynch, Pierce, Fenner & Smith Inc
Merrill Lynch
E.F. Hutton and Donaldson
Lufkin & Jenrette Inc
First Boston Corp
Reynolds Securities
Shields & Co
Drexel’ Firestone Inc
Halsey, Stuart & Co
A.G. Becker & Co