Lehman Profits Fall, but Give Wall Street a Lift
The investment bank said third-quarter profit fell less than expected, as strength in stock trading and investment banking offset losses from the mortgage market.
September 19, 2007
Stocks pare gains; Freddie disappoints
Wall Street pared its sharp gains Tuesday as investors grew more nervous about hefty losses at government-sponsored lender Freddie Mac and increasingly cautious ahead of the Federal Reserve's release of minutes from its last meeting.
Wells Fargo shuts down stock research operations
SAN FRANCISCO - Wells Fargo & Co. on Tuesday jettisoned a small division that evaluated individual stocks, citing a drop in revenue that made it increasingly difficult to support an operation unconnected to the bank's bread-and-butter business of gathering deposits and making loans.
