An accounting change, poor trading results and problems with a refinery resulted in a $186 million loss for the unit.

Analysts, however, were surprised at the strength of Morgan's trading results.

The company warned last month that trading results would be disappointing.

Before setting new targets, consider factors such as recent trading results and current market research/knowledge.

Some analysts shrugged off the disappointing trading results, given the unpredictable nature of that business.

On 16 January 2011, the Group announced its 2010 trading results.

The bank said it did not expect trading results for November to be as grim.

Not that some of these investment fellows really need to fudge their trading results.

The projections represent an illustration of the potential future trading results and funding requirements.

But he said that the soft spots "were completely overshadowed by the strong trading results.