The market loves surprises. Especially when the CEO is being investigated by the New York Attorney General for questionable bonuses.
Merrill Lynch lost $15.84 billion in the fourth quarter, a regulatory filing showed, more than $500 million higher than the loss previously estimated by Bank of America.
The quarterly loss equaled $9.95 per share for the period ended Dec. 26, 2008, according to Merrill's annual report filed on Tuesday with the U.S. Securities and Exchange Commission.
Bank of America had on Jan. 16 estimated that Merrill lost $15.31 billion in the fourth quarter.
