Deutsche Bank Lowers Estimates On State Street (STT)
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Deutsche Bank lowers estimates on State Street (NYSE: STT) citing lower asset values, which will negatively impact securities servicing and asset management, a reversion to more normal f/x revenues, and a lower net interest margin.
The firm cut Q4 EPS estimates by $0.07 to $1.08 and 2009 EPS from $4.95 to $4.30. 2010 EPS estimates were reduced from $5.35 to $4.70.
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