No More Bear Stearns Coverage

The Bear Stearns equity research department is no more.

Late Friday, the firm issued what will be its last research report; it reads as follows:

Bear Stearns Withdrawal of Coverage

Due to the merger of Bear Stearns and JPMorgan Chase (JPM), coverage of all companies by the Bear Stearns Equity Research Department is withdrawn. Effective upon termination of coverage, all Bear Stearns sector ratings, estimates, price targets and company recommendations shall be withdrawn and should no longer be relied upon.

That was followed by a 20-page list of the analysts affected by the shutdown - which is all of the analysts who worked there - and all of the companies they cover.

 

Among the notable tech analysts affected by the shutdown are PC hardware analyst Andy Neff, enterprise software analyst John DiFucci, cable television analyst Spencer Wang, video game software analyst Edward Urban, semiconductor analyst Gurinder Kalra, computer services analyst James Kissane; electronics manufacturing analyst Kevin Kessel; wireless equipment analyst Philip Cusick; Internet analyst Robert Peck.