As Q3 Comes Into View, Analysts Begin Slashing Estimates

"Last week, it was Goldman Sachs; this Thursday, it’s analysts at Fox-Pitt Kelton Cochran Caronia Waller and Keefe, Bruyette & Woods that are the latest to come to the realization that Q3 earnings aren’t exactly to come out smelling like roses among most in the financial sector. Analysts for both companies cut their third quarter and full-year estimates for Morgan Stanley,Goldman Sachs and Lehman Brothers Holdings Inc. "