Financial Accounting Blog

Wednesday, February 11, 2004 reports that Merrill Lynch has authorized a $2 billion stock buyback.
Cheif financial officer, Ahmass Fakahany, stated that company has generated substantial level of capital in the past two years and that that its balance sheet and liquidity are strong. Merrill Lynch currently has $1.5 trillion in client assets and has 1.01 billion common shares outstanding (1.7 percent of total shares).