Lehman Brothers (LEH) Sinks Another 30% In Early Trade
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Shares of Lehman Brothers (NYSE: LEH) are down 32%, below $5 per share, in pre-open trading as investors worry about the future of the company.
Yesterday, Lehman reported a massive $5.92 per share loss, announced plans to spin off $25-$30 billion of its commercial real estate portfolio into a separate publicly-traded company and announced its intent to sell a majority stake in a subset of its Investment Management Division, among other things. Shares of Lehman Brothers, after trading on both sides of break-even, closed the day down 7%.
This morning Goldman Sach and Citigroup downgraded shares of Lehman Brothers. Goldman said uncertainity remains and Citi said confidence and perception issues are overwhelming Lehman's franchise value.
Yesterday, Lehman reported a massive $5.92 per share loss, announced plans to spin off $25-$30 billion of its commercial real estate portfolio into a separate publicly-traded company and announced its intent to sell a majority stake in a subset of its Investment Management Division, among other things. Shares of Lehman Brothers, after trading on both sides of break-even, closed the day down 7%.
This morning Goldman Sach and Citigroup downgraded shares of Lehman Brothers. Goldman said uncertainity remains and Citi said confidence and perception issues are overwhelming Lehman's franchise value.
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