Today’s TraderNotes include: Lehman Brothers Holdings Inc. (NYSE: LEH), Freddie Mac (NYSE: FRE), Fannie Mae (NYSE: FNM), IndyMac Bancorp Inc. (NYSE: IMB), Washington Mutual Inc. (NYSE: WM), National City Corp. (NYSE: NCC), Wachovia Corp. (NYSE:WB), and JPMorgan Chase & Co. (NYSE: JPM).
“Lehman Brothers Holdings Inc. (LEH) shares rebounded from yesterday’s slide, climbing nearly 13% to $13.92 Tuesday mid-day. Lehman Brothers, through its subsidiaries, provides various financial services to corporations, governments and municipalities, institutions and high-net-worth individuals worldwide...
“As recent concerns about the credit crisis mounted, several investors bailed out of investment bank stocks and one analyst was prompted to call for Lehman Brothers to go private…
“Lehman Brothers shares dropped dramatically in yesterday's trading, plunging to a nine-year low on fears the institution does not have enough capital to stay in business...”
“Freddie Mac (FRE) shares plummeted in Tuesday trading, falling nearly 17% to $5.92 near noon. Freddie Mac engages in mortgage purchasing, credit guarantee and portfolio investment activities in the United States…
“Recently, South Korean insurance firms and banks had about $550 million in total exposure to struggling U.S. mortgage lenders Fannie Mac and Freddie Mae as of end-June, according to a report…
“According to Financial Supervisory Service, insurers' exposure to both mortgage companies came to $465 million and banks represented the remainder…”
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Beacon Equity Research Disclosure
The analysts contributing to this report do not hold any shares of Lehman Brothers Holdings Inc. (NYSE: LEH). Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research (“Beacon”) certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.
Source: BeaconEquity.com
Beacon Equity Research
Jeff Bishop, (469)-252-3505
press@beaconequity.com
