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 Wall Street securities giant Salomon Inc. posted a big, unexpected earnings gain in the third quarter, 
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buoyed by its securities trading and investment banking activities.
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result

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 Salomon said 
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net income soared to $177 million, or $1.28 a share, from $65 million, or 38 cents a share, a year earlier.
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 Revenue more than doubled to $2.62 billion from $1.29 billion.
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 A Salomon spokesman said 
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its stock, bond and foreign exchange trading, as well as its investment banking operations, were mostly responsible for the earnings jump.
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 The earnings were fine and above expectations, 
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said Michael W. Blumstein, an analyst at First Boston Corp. 
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Nevertheless, Salomon's stock fell $1.125 yesterday 
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to close at $23.25 a share in New York Stock Exchange composite trading.
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 I suspect 
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October wasn't as good as the third quarter,
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 and they'll have difficulty
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 matching the third quarter in the fourth quarter,
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elaboration-additional

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 Mr. Blumstein said.
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 But some analysts say 
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 Salomon has turned the corner.
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 I upgraded the firm to my buy list
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 because I certainly see signs of improvement, 
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says Lawrence Eckenfelder, an analyst at Prudential-Bache Securities.
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 The market has been overly harsh to them.
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 Analysts say
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 investors remain skittish toward Salomon
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 because of its volatile earnings.
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 In the first quarter, Salomon had a record loss of $28 million on revenue of $1.54 billion.
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 But in the second quarter, Salomon posted a record $253 million net on revenue of $2.33 billion.
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Comparison

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evidence

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evidence

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consequence-n

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