P.M. BRIEFING : Slim Earnings for Salomon Inc.
From Times Wire Services
NEW YORK —
Salomon Inc. today reported fourth-quarter profits of $68 million but disappointed investors with slim earnings in its securities business, which has been hit by a slow stock market and heated competition on Wall Street.
The investment bank group said it earned 42 cents a share in the fourth period, compared with a year-ago loss of $38 million, or 42 cents a share, which reflected a special charge of about $180 million.
