Brokerage Stocks Rise on Lehman Results
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Lehman Brothers Holdings Inc. posted fourth-quarter profit Wednesday that trounced Wall Street forecasts due to an unexpected revival of its investment banking business, a signal that could bode well for some of its rivals.
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Goldman Sachs and Lehman Brothers yesterday posted higher-than-expected quarterly profits, fuelled by surprising strength in bond trading and investment banking growth.
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Wall Street advanced in early trading, growing more upbeat about corporate profits after solid results from Apple, American Express and DuPont.
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U.S. stocks rallied on Thursday as a   string of corporate deals, plus a robust initial public   offering for credit-card company MasterCard Inc.MA.N, lifted   investor sentiment.
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Lehman Brothers Holdings Inc. , the first of Wall Street's biggest firms to report second-quarter earnings, said profit rose 27 percent to a record as a rally in stocks fueled equity trading and investment-banking revenue increased.
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Lehman Brothers Holdings Inc.   on Tuesday said quarterly profit rose 27 percent, beating  expectations, on surging revenue from bond underwriting and  stock trading.
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U.S. stocks climbed on Tuesday after  several banks, including Bank of America Corp. BAC.N, posted  increased fourth-quarter profits, while oil prices retreated  from seven-week highs, easing worries about steep energy costs.
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Build-A-Bear Workshop Inc.  said on Thursday that it has hired Lehman Brothers  to help it evaluate its options, sending the retailer's stock up more than 13 percent.
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Lehman Brothers Holdings Inc. , said on Tuesday that quarterly profit rose 27 percent, beating expectations, on surging revenue from bond underwriting and stock trading.
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U.S. stocks ended higher on Wednesday  as better-than-expected earnings from Lehman Brothers Holdings  Inc. LEH.N provided a lift, even as crude oil prices rose to  a 2-week high and sparked worry about high energy costs.
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US stocks closed slightly higher Wednesday, as better-than-expected quarterly results from investment bank Lehman Brothers Holdings Inc.
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Goldman Sachs Group Inc. and Lehman Brothers Holdings Inc. said fiscal third-quarter earnings rose more than expected, led by gains in bond and commodities trading and higher fees from mergers and acquisitions advice.
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Investment bank Lehman Brothers  Holdings Inc. on Tuesday said quarterly earnings rose 5  percent, easily beating analysts' estimates, on strength in its  top-ranked bond business and growing investment banking  revenue.
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Stocks advanced on Thursday as a rebound in global equity markets helped boost investment banks' shares and strong earnings from U.S. retailers on strong monthly sales allayed worries about the economy's health.
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Lehman Brothers Holdings Inc.  on Tuesday said quarterly profit rose 27 percent, beating expectations, on surging revenue from bond underwriting and stock trading.
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Wall Street surged higher after the investor Warren Buffett offered to help out troubled bond insurers, easing some concerns about further deterioration in the credit markets.
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Stocks rose on Tuesday after forecast-topping earnings from Lehman Brothers Holdings Inc  soothed investors' worst fears about fallout from credit turmoil ahead of an expected U.S. interest rate cut.