Meredith Whitney Slashes Morgan Stanley Earnings Estimate, Doesn't Feel The Need To Explain Herself

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Is there some sort of rules that says if you cut earnings you must tell people why? If so MDubs is changing them a little bit. She'll slash and let you know her thinking when she gets around to it, maybe. Why? Because she's the Dollar Dom and she can do WHATEVER SHE WANTS!

Meredith Whitney slashed her first quarter earnings estimate for Morgan Stanley Thursday, knocking estimated earnings per share to 35 cents from 59 cents. Reasons for the cut remained unclear; a copy of the note obtained by CNBC offered little supporting evidence for Whitney's revised conviction on the mega-bank.

Meredith Whitney Cuts Forecast for Morgan Stanley [CNBC]

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The way Whitney sees it, some kind of sugar daddy or "rich uncle" setup is Morgan Stanley's only hope for survival going forward. ...in the wake of a disappointing second-quarter report. Meredith Whitney, of her own Meredith Whitney Advisory Group, said there was little to “chat about” given the particularly weak 4% return on equity Morgan Stanley sported. “It can’t be much fun to be a shareholder of Morgan Stanley, and, things got a lot worse this past June when Moody’s downgraded the company’s debt to one of the lowest ratings of its competitors,” Whitney wrote, as the first sentence of her research report. “With a 4% ROE, at what point does it make sense for Morgan Stanley to begin looking for ‘a rich uncle’?” Morgan Stanley Gets Some Tough Advice From Whitney, Mayo [DealJournal]