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Merrill Writedown Grows

Stock quotes in this article: MER , BLK , NYX , C  

Updated from 8:50 a.m. EST

Merrill Lynch(MER Quote) posted a nearly $10 billion fourth-quarter loss and wrote down $14.6 billion in soured mortgage debt and other loans -- numbers that were worse than the most aggressive predictions on the Street.

The New York-based brokerage posted a net loss of $9.8 billion, or $12.01 a diluted share, on negative revenue of $8.19 billion, down from revenue of $8.39 billion for the year prior. A year earlier, Merrill had a net profit of $2.35 billion, or $2.41 per share.

Analysts polled at Thomson Financial were expecting Merrill to record a fourth-quarter loss of $4.70 per share on revenue of $702.1 million. ...

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