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Tuesday, March 18, 2008

Lehman Net Income Declines 57%

Lehman Brothers Holdings Inc. said profit fell 57 percent, less than analysts estimated, a day after the fourth-largest U.S. securities firm lost 19 percent of market value following the fire sale of Bear Stearns Cos.

First-quarter net income declined to $489 million, or 81 cents a share, from $1.15 billion, or $1.96, a year earlier, the New York-based firm said in statement today. Lehman rose 14 percent in early trading after profit beat the 72-cent average estimate of 16 analysts surveyed by Bloomberg.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Monday, Jun 16
18:00 NY Empire State Manufacturing Index 2 -16.0 -5.5 -9.2
21:00 6-Month Bill Auction 1 4.155% 4.150%
21:00 3-Month Bill Auction 1 4.24% 4.25%
22:30 20-Year Bond Auction 1 4.942% 5.047%
Tuesday, Jun 17
04:15 Food Price Index (MoM) 1 0.5% 0.8%
18:00 Retail Sales ex Autos (MoM) 2 0.1% 0.1%
18:00 Retail Sales (MoM) 3 -0.7% 0.1%
18:00 Retail Sales (YoY) 1 5.2%
18:00 Retail Sales Control Group 3 -0.2%
18:00 Canadian Portfolio Investment in Foreign Securities 1 $15.63B
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