P.M. BRIEFING : Slim Earnings for Salomon Inc.
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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.
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