1. Lehman Brothers Seen As Cheap Recovery Bet.
- Author
-
Eavis, Peter and Reilly, David
- Subjects
- *
ECONOMIC recovery , *STOCKS (Finance) , *ASSETS (Accounting) , *CORPORATE debt - Abstract
The article focuses on Lehman Brothers Holdings Inc. which is being viewed by some investors as a cheap way to bet on any eventual markets recovery after its shares recovered on the New York Stock Exchange (NYSE) in April 2008. The stock of the company rose approximately 6 percent to close at $46.38. Lehman accumulated about $1.6 billion in pretax gains due to changes in hard-to-value equity assets and the value of its own debt. Chief financial officer (CFO) Erin Callan attributed low earnings to the challenging markets.
- Published
- 2008