Investment bank Lehman Brothers Holdings Inc. (NYSE: LEH) posted lower earnings of 81 cents per share compared with $1.15 per share last year, but the results handily beat expectations. Investors had worried about its exposure to mortgage-related investments that took down Bear Stearns (NYSE: BSC). Shares of Lehman Bros. leaped $11.31 to $43.06 while Bear Stearns stock recovered $1.65 to $6.46.
Lehman Bros. Beats Estimates
March 18, 2008 at 15:24 PM EDT