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Updated from 8:57 a.m. EST
Bear Stearns(BSC Quote) swung to a much-larger-than-expected fourth-quarter loss exacerbated by an increased writedown on mortgage-related securities.
For the three months ending Nov. 30, the New York investment bank reported a loss of $854 million, or $6.90 a share. That compares with a profit of $563 million, or $4 a share, in the year-earlier period. Bear Stearns reported a revenue loss of $379 million in the quarter.
Analysts were predicting a loss of $1.79 a share in the quarter, according to Thomson Financial. ...
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