Merrill reps like Thain bounce
Merrill Lynch brokers welcomed today's news that John Thain will join the firm as new chief executive.
Merrill Lynch brokers welcomed today’s news that John Thain will join the firm as new chief executive.
“I like what [the news is] doing to the stock,” said one Merrill broker. “That helps a bunch.”
Merrill brokers are large shareholders through their deferred compensation plans.
The stock climbed above 61 a share today, up 7% at one point from the close yesterday.
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