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Wall Street Breakfast: Must-Know News

Posted on June 09, 2008

Struggling Lehman Set to Bolster Balance Sheet. Lehman Brothers (LEH), which is down about 48% year to date, will raise more than $6 billion from common and preferred stock offerings. The firm also announced it lost $2.88 billion last quarter, far exceeding the $300 million loss analysts were expecting. The earnings announcement, which had been anticipated all weekend, was more than a week earlier than formally scheduled. Shares fell about 7%, in pre-market action. ...

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earnings , earnings announcement , pre market