Smith Barney Brokerage
Enviado: 18/2/2005 2:10The Smith Barney Brokerage esta em negociacoes para contrar a Dorsey Wright Associates para a sua parte de analise tecnica.
Smith Barney Lays Off Entire US Technical Analysis Team
February 17, 2005: 13:15 p.m. EST
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NEW YORK (Dow Jones)--Citigroup Inc.'s (C) Smith Barney unit has fired its entire U.S. technical analysis team, on the heels of a number of stock analysts it laid off last week.
The latest layoffs took place Thursday morning and involved the technical analysis team led by managing director Louise Yamada and about nine other technicians and support staff.
Yamada, who was with the firm for 24 years, has been ranked a top market technician by Institutional Investor for a number of years. She did not respond to a call for comment.
The move was part of Smith Barney's efforts to make limited staff reductions that are consistent with fundamental objectives to keep expenses low while continuing to invest in areas where the firm sees growth opportunities, a representative said.
Technical analysts use charts and supply and demand patterns to get a bead on whether stocks or sectors are attractive and pose buying opportunities. The offices that Yamada and her team worked out of contained charts dating back decades that tracked the movement of major stock indexes and the group published a weekly report, "Market Interpretations."
In a note to employees, Bill Kennedy, the firm's director of global equity research, wrote, "While a difficult decision, we believe focusing our research investments toward fundamental company coverage best positions Citigroup to succeed in an increasingly competitive environment."
Last week, Smith Barney fired at least six stock analysts, in addition to cuts at Citigroup's corporate and investment bank, which are expected to affect about 1,000 of that unit's 48,000 employees.
-By Karen Talley, Dow Jones Newswires, 201-938-5106; karen.talley@dowjones.com
Dow Jones Newswires 02-17-05 1315ET Copyright (C) 2005 Dow Jones & Company, Inc. All Rights Reserved.
Smith Barney Lays Off Entire US Technical Analysis Team
February 17, 2005: 13:15 p.m. EST
-
NEW YORK (Dow Jones)--Citigroup Inc.'s (C) Smith Barney unit has fired its entire U.S. technical analysis team, on the heels of a number of stock analysts it laid off last week.
The latest layoffs took place Thursday morning and involved the technical analysis team led by managing director Louise Yamada and about nine other technicians and support staff.
Yamada, who was with the firm for 24 years, has been ranked a top market technician by Institutional Investor for a number of years. She did not respond to a call for comment.
The move was part of Smith Barney's efforts to make limited staff reductions that are consistent with fundamental objectives to keep expenses low while continuing to invest in areas where the firm sees growth opportunities, a representative said.
Technical analysts use charts and supply and demand patterns to get a bead on whether stocks or sectors are attractive and pose buying opportunities. The offices that Yamada and her team worked out of contained charts dating back decades that tracked the movement of major stock indexes and the group published a weekly report, "Market Interpretations."
In a note to employees, Bill Kennedy, the firm's director of global equity research, wrote, "While a difficult decision, we believe focusing our research investments toward fundamental company coverage best positions Citigroup to succeed in an increasingly competitive environment."
Last week, Smith Barney fired at least six stock analysts, in addition to cuts at Citigroup's corporate and investment bank, which are expected to affect about 1,000 of that unit's 48,000 employees.
-By Karen Talley, Dow Jones Newswires, 201-938-5106; karen.talley@dowjones.com
Dow Jones Newswires 02-17-05 1315ET Copyright (C) 2005 Dow Jones & Company, Inc. All Rights Reserved.