The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Peter V who wrote (127768)	6/9/2008 7:35:06 AM
From: RockyBalboa	Read Replies (2) of 306849

Lehman is down big time again on capital raising to cover huge Q2 Loss. AP Lehman to raise $6 billion in capital Monday June 9, 7:00 am ET Lehman Brothers will raise $6 billion of capital to cover $2.8 billion second-quarter loss NEW YORK (AP) -- Lehman Brothers says it will raise $6 billion through a stock issuance, and expects a second-quarter loss of approximately $2.8 billion due to more pain from the credit crisis. The nation's fourth-largest investment bank said Monday it expects to post a loss of $5.14 per share for the quarter ended May 31. It made $489 million, or 81 cents per share, in the year-ago period. Lehman says it will raise capital from both common and preferred stock. EDIT: Analysts looked for a loss of between 22c and 75c (before or including some credit costs, adjusted. This is an ugly miss).

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