Securities and Exchange Commission
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Wachovia Cut to Underperform by Merrill
Sep 09, 2008While broader market indices appear set to rise on Tuesday, Wachovia Corp. [stock WB][/stock] was headed in the opposite direction in pre-market trading after analysts at Merrill Lynch & Co. [stock MER][/stock] downgraded the North Carolina-based bank to underperform, citing concerns over investment banking and a growing likelihood of impairment charges. Shares in Wachovia were off just over 4 percent, to $18.22, when this story was published.
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