Bund Tbond and the bernakka's und trikeko's injection VM199
- Creatore Discussione gipa69
- Data di Inizio
gipa69
collegio dei patafisici
Lehman Brothers Third-Quarter Profit Dips on Mortgage, Credit Woes
NEW YORK (AP) -- Lehman Brothers Holdings Inc. on Tuesday reported third-quarter profit fell 3 percent, as the nation's fourth-largest investment bank was hurt by fallout from the subprime-mortgage crisis.
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The New York-based investment bank reported quarterly profit for the period fell to $887 million, or $1.54 per share, from $916 million, or $1.57 per share, a year earlier. Revenue rose to $4.31 billion from $4.18 billion last year.
Results beat Wall Street projections for a profit of $1.47 per share on $4.23 billion of revenue, according to analysts polled by Thomson Financial.
Lehman said it recorded "substantial valuation reductions" on certain investments in the quarter; its total valuation adjustments led to a net reduction in revenue of $700 million.
"Despite challenging conditions in the markets, our results once again demonstrate the diversity and financial strength of the Lehman Brothers franchise, as well as our ability to perform across cycles," said Chairman and Chief Executive Richard Fuld in a a statement.
Lehman Brothers undertook major cutbacks in its mortgage business this year, shuttering its subprime mortgage lending arm, BNC Mortgage, and laying off about 2,500 people.
The mortgage meltdown has had ripple effects through Wall Street, pinching demand for some of the investment banks' best-selling products. Mortgage-backed bonds, collateralized debt obligations and asset-backed commercial paper are all much tougher to sell now.
Lehman's stock fell 26.4 percent during the third quarter, and closed at $58.62 on Monday.
NEW YORK (AP) -- Lehman Brothers Holdings Inc. on Tuesday reported third-quarter profit fell 3 percent, as the nation's fourth-largest investment bank was hurt by fallout from the subprime-mortgage crisis.
ADVERTISEMENT
The New York-based investment bank reported quarterly profit for the period fell to $887 million, or $1.54 per share, from $916 million, or $1.57 per share, a year earlier. Revenue rose to $4.31 billion from $4.18 billion last year.
Results beat Wall Street projections for a profit of $1.47 per share on $4.23 billion of revenue, according to analysts polled by Thomson Financial.
Lehman said it recorded "substantial valuation reductions" on certain investments in the quarter; its total valuation adjustments led to a net reduction in revenue of $700 million.
"Despite challenging conditions in the markets, our results once again demonstrate the diversity and financial strength of the Lehman Brothers franchise, as well as our ability to perform across cycles," said Chairman and Chief Executive Richard Fuld in a a statement.
Lehman Brothers undertook major cutbacks in its mortgage business this year, shuttering its subprime mortgage lending arm, BNC Mortgage, and laying off about 2,500 people.
The mortgage meltdown has had ripple effects through Wall Street, pinching demand for some of the investment banks' best-selling products. Mortgage-backed bonds, collateralized debt obligations and asset-backed commercial paper are all much tougher to sell now.
Lehman's stock fell 26.4 percent during the third quarter, and closed at $58.62 on Monday.
gipa69
collegio dei patafisici
RealtyTrac: Foreclosures up 115% in last year
There were almost a quarter-million foreclosures in the U.S. last month alone; a 36% jump since July. And since last year foreclosures have soared 115% - led by problems in Nevada, California and Florida. So finds RealtyTrac, a leading real estate data provider. And there's no end in sight. RealtyTrac's Rick Sharga tells John Wordock things may get worse before they get better as more subprime loans reset.
There were almost a quarter-million foreclosures in the U.S. last month alone; a 36% jump since July. And since last year foreclosures have soared 115% - led by problems in Nevada, California and Florida. So finds RealtyTrac, a leading real estate data provider. And there's no end in sight. RealtyTrac's Rick Sharga tells John Wordock things may get worse before they get better as more subprime loans reset.
masgui
Forumer storico
gipa69 ha scritto:
e si....sembra fatta ad hoc questa news.
il dato lascia amopia spazio di manovra alla Fed stasera. Nessun problema ad abbassare i tassi.
Prezzi che scendono....(ma può anche significare che l'economia non va mica tanto bene...
)Le parole del bernakka saranno scandagliata alla sillaba....
quicksilver
Forumer storico
gipa69 ha scritto:
bella scusa per salire di colpo con tutto, futures, forex e azioni...
mi da l'impressione che se oggi si sale ancora vuol dire che stasera dopo l'impatto tassi si scende...
Fleursdumal
फूल की बुराई
Good aft'noon a tout les bondaroles
a me piace il titolo apocalittico final cut VM 29
ready for the chaos
a me piace il titolo apocalittico final cut VM 29
ready for the chaos
