Movers: Lehman, Apple, WaMu, Hilb Rogal & Hobb
Lehman Brothers Holdings (LEH) expects to report a second quarter net loss of about $2.8 billion, or a loss of $5.14 per share, vs. $2.21 in year ago second quartr. It sees second quarter net revenue of negative $0.7 billion, vs. $5.5 billion in year ago quarter. Also, the company announces that it intends to raise $6 billion through common stock and non-cumulative mandatory convertible preferred stock offerings. Moody's Investors Service lowers rating outlook on Lehman Brothers Holdings to negative from stable; affirms rating on the senior long-term debt and its principal rated operating and guaranteed subsidiaries.
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