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Lehman Bros. to Report 3Q Stats Today in Bid to Calm Market

Battered firm to unveil 'strategic initiatives'

By Rob Quinn,  Newser Staff

Posted Sep 10, 2008 1:59 AM CDT

(Newser) – Lehman Brothers plans to release its third-quarter results and "key strategic initiatives" this morning—a week earlier than expected—in a bid to calm investors, Marketwatch reports. The securities firm took its biggest Wall Street walloping in history yesterday, with share prices plunging 45% to finish 85% down from a year ago.



Patrick Kenny, left, of Lehman Brothers MarketMakers talks to fellow traders on the floor of  the New York Stock Exchange last week.
Patrick Kenny, left, of Lehman Brothers MarketMakers talks to fellow traders on the floor of the New York Stock Exchange last week.   (AP Photo/Henny Ray Abrams)
Michael Volpe of Lehman Brothers looks at an overhead monitor on the floor of the New York Stock Exchange yesterday.
Michael Volpe of Lehman Brothers looks at an overhead monitor on the floor of the New York Stock Exchange yesterday.   (AP Photo/Henny Ray Abrams)
Lehman Brothers' New York headquarters.
Lehman Brothers' New York headquarters.   (AP Photo/Mark Lennihan, File)
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People are running for safety. There's just panic. Everyone is afraid to be caught on the other side of a Bear Stearns. - Frank Ingarra, co-portfolio manager at Hennessy Advisors Inc.

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