"As a result of the mortgage-related losses, the bank posted a net loss from continuing operations of $2.3 billion, or $2.85 a share, for the quarter ended in September. In the year-ago period, Merrill reported a net profit of $3 billion, or $3.47 a share, on the same basis." <br> <br>Ouch. MER takes a 2.41% loss in pre-opening trading. But the question is, what the hell happened? I'm waiting eagerly for the 10-Q personally. I have a gut feeling like they over-wrote their losses, though I'm not sure why. Might be a steal in another couple of weeks, you can be there will be a management change. <br> <br>