Lehman Is Selling $3B in Shares

Analyst sees no end in sight for layoffs and write-downs

(NEWSER) - While he steers clear of the Great Depression, everything else is fair game as reference in James J. Cramer’s apocalyptic appraisal of Wall Street for New York. In Cramer's 25 years, he's seen lots of implosions, but this one is different: With thousands of layoffs at major shops, and billions more in write-offs expected, he sees no place for canned employees—or investors—to flee. More»

Investors fear that banks, securities firms still in trouble

(NEWSER) - Lehman Brothers shocked Wall Street today by posting a $2.8 billion quarterly loss, its first in 14 years and far worse than expected, the Wall Street Journal reports. Other downmarket reports added to investor anxiety, sent stocks falling, and boosted fears that banks and securities firms remain troubled. As expected, Lehman also announced a plan to raise $6 billion in new capital. More»

Shaky confidence means its biggest fear may be fear itself

(NEWSER) - After a collapse of confidence sank Bear Stearns last week, some traders are betting that Lehman Brothers will be the next victim of the credit crunch. Its stock went on a rollercoaster ride yesterday—plunging 40% at one point and closing down 19%, the biggest fall since the firm went public. But analysts, wary of giving vultures more reasons to circle, are watching what they say about the brokerage firm, Marketwatch reports. More»

Wall Street survived the near-collapse of Bear Stearns, but there's more trouble ahead

(NEWSER) - Wall Street, reeling over JP Morgan’s bargain-basement purchase of Bear Stearns, is anxiously watching to see “who’s next” to succumb to the continuing credit squeeze, reports the Financial Times. As investment banks prepare to release first quarter results this week—led by Goldman Sachs and Lehman Brothers tomorrow—the mood is grim. “Short-sellers could have a field day with bank stocks this week,” said one banker. More»

Whole Foods shares worth less than a pound of scallops in their stores

(NEWSER) - Why settle for the goods when you can get the factory—or a piece of it—instead? Gawker finds more companies whose shares are worth less than products they sell:

• Have dreams of owning a brewery? Scoop up an Anheuser-Busch share ($20.16) for less than one Bud Light case.
• At $10.61, Gap isn't worth a pair of its own boxers.