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Shares of Lehman Brothers(LEH Quote) surged Tuesday, after the big Wall Street firm said third-quarter profits rose 4%, more than Wall Street had expected.
In the quarter, Lehman earned $916 million, or $1.57 a share, up from $879 million, or $1.47 a share, in the year-ago quarter. Net revenue rose 8% to $4.2 billion. Analysts, as surveyed by Thomson Financial, had the investment firm earning $1.49 a share on revenue of $4 billion. The stock most recently was up $2.40, or 3.5%, to $70.42.
Nasdaq(NDAQ Quote) shares rose a day after the chief executive of the company that runs the Nasdaq Stock Market said the exchange will not rush into any overseas merger with a European rival. ...
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