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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 02
04:30 S&P Global Manufacturing PMI 1 51.7 51.7
06:30 TD-MI Inflation Gauge (YoY) 2 3.3%
06:30 TD-MI Inflation Gauge (MoM) 1 0.6%
07:00 ANZ Job Advertisements 1 -1.2% 0.5%
11:30 Nationwide Housing Prices s.a (MoM) 1 0.1% -0.6%
11:30 Nationwide Housing Prices n.s.a (YoY) 1 3.4%
12:00 Real Retail Sales (YoY) 2 2.5% 2.2%
12:00 RBA Commodity Index SDR (YoY) 1 -6.1%
12:30 Gross Domestic Product (QoQ) 3 0.4% 0.2%
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