Credit Suisse, MMC, Evercore & Stifel

Credit Suisse, Marsh & McLennan Cos.and Evercore Partners reported negative returns in the fourth quarter, while Stifel Financial Corp. saw a 92% increase in the final three months of 2007. Credit Suisse said fourth-quarter earnings slid 72% due to write-downs resulting from the subprime meltdown that hit the credit markets last year. The Zurich, Switzerland-based investment bank said net income dropped to $1.2 billion, or 1.21 diluted earnings per share, from the $4.3 billion, or 2.29 diluted earnings per share reported in the year-ago period. Net revenue for dropped 13% in the fourth quarter to $8.5 billion compared with the $9.8 billion reported for the same period in 2006. MMC reported a fourth-quarter net income loss of 62% to $85 million, or 16 cents a share, from the $226 million, or 40 cents a share in the year-ago period. The New York-based global professional services firm’s risk and insurance services fell 54% to $58 million from $127 million reported in the 2006 fourth-quarter, attributed to a $66 million reduction in revenue from the Risk Capital Holdings unit. Evercore Partners saw a 10% decline in fourth-quarter earnings from $3.5 billion, or $0.25 earnings per share, from the $3.3 billion or $0.69 earnings per share in the year-ago period. Pre-tax income at the New York-based investment boutique dipped 40% for the quarter to $14.3 billion. Fourth-quarter earnings were much more positive for Stifel Financial, whose net-income rose 92% to $13.8 million, or 77 cents per share, from $7.2 million, or 51 cents per share during the same period in 2006. The St. Louis, Mo.-based investment firm reported a revenue rise of 63% to $212.2 million, aided by a 62% growth in commission fees.