Lehman Brothers


was hammered again Thursday, leading to another uneven session for the financial sector.

This time, a series of downgrades weighed on the stock, as the company's capital-preservation plan failed to impress analysts. Even with late-day reports that


could be seeking a buyer, possibly

Bank of America

(BAC) - Get Bank of America Corp Report

, the damage was already done, and the shares closed down another 42% to finish at $4.22.

Washington Mutual

(WM) - Get Waste Management, Inc. Report

, after a rough morning, rebounded late to close up 22% at $2.83.

For the most part, the financial components of the

Dow Jones Industrial Average

closed to the upside, led by a 5.7% gain in

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. (JPM) Report


American Express

(AXP) - Get American Express Company Report


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(AIG) - Get American International Group, Inc. Report

and BofA were also positive.


(C) - Get Citigroup Inc. Report

missed the rally and slipped 0.4%.


Merrill Lynch


sank 16.6% to $19.43, while


(WB) - Get Weibo Corp Sponsored ADR Class A Report

lost 5.3% to $14.28.

On the winning side,

Wells Fargo

(WFC) - Get Wells Fargo & Company Report

was up 6.8% to $33.85, and


(BBT) - Get BB&T Corporation Report

was better by 4.5% at $32.85.

Sector indices lost ground early in the day but rebounded as the session progressed. The NYSE Financial Sector index added 0.2%, and the KBW Bank index jumped 2.8%. The Amex Securities Broker/Dealer index declined 0.8%.

This article was written by a staff member of TheStreet.com.