Chase Manhattan Corp. shares plunged 5.2% Thursday as a result of rumors that its third-quarter earnings would fall short of projections and that the bank would report them early.

The rumor was that Carla D'Arista, an analyst with Friedman, Billings Ramsey & Co., had lowered her earnings estimate for the company to $1.25 a share, from $1.31, after a meeting with Chase executives.

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