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Lehman Bros. Beats Estimates

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.

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