Earnings Outlook: Market woes expected to bite into Bank of N.Y. Mellon's results

Market grief seen weighing on Bank of N.Y. Mellon BOSTON (MarketWatch) -- Bank of New York Mellon Corp., one of the world's largest custody banks and asset managers, is expected to announce quarterly results next week that reflect the credit pain that is afflicting all financial institutions. Bank of N.Y. Mellon , the giant that resulted from the merger of Bank of New York and Mellon, has seen its shares fall sharply in recent months along with the broader financial sector amid the worsening credit tumult. The company is scheduled to report third-quarter financial results on Thursday. Analysts polled by Thomson Reuters are forecasting quarterly profit rose to 72 cents a share from 67 cents a share in the year-ago period, but the outlook for financial-services firms remains clouded by economic fears and the panic in lending... [read full story]