Credit Suisse Cuts Q4 Goldman & Morgain Stanley (CS, GS, MS)

Credit Suisse CS is the latest to cut its Q4 earnings outlook for Goldman Sachs GS and Morgan Stanley MS, a reflection of what the firm calls "choppier-than-expected" market conditions. Says GS will finish the year weaker as a result of slower fixed income sales and trading. Lowering GS's Q4 EPS view to $3.70 from $5.08; MS view cut to 20cents from 60 cents, respectively. Yet firm keeps outperform rating on both stocks. Both stocks off a fraction pre-market.