( LEH) rose about 1% after the New York-based brokerage reported a 74% increase in third-quarter net income and beat analysts' expectations. The company said net income was $879 million for the quarter ending Aug. 31, or $2.94 a share, up from $505 million, or $1.71 a share, in the year-ago period. Revenue was $3.9 billion, up 47% from $2.6 billion a year ago. Analysts expected Lehman to earn $2.37 a share in the third quarter on revenue of $3.4 billion. Shares of Lehman were up $1.24 to $113.52.
Endurance Specialty Holdings
fell 5.6% after the Bermuda-based insurance company estimated its losses related to Hurricane Katrina will be between $375 million and $450 million. The company estimated its gross losses related to Katrina to be between $400 million and $500 million. The company said about half its losses came from wind-related exposures including energy-related losses, while the remainder came from flood-related damages and related business interruption. Shares of Endurance were down $2.07 to $34.63.
was up 1.4% after the New York-based investment management company reported late Tuesday that its preliminary assets under management increased by about $9 billion, or 1.7%, in August to $543 billion. The company said this was primarily due to strong investment performance and net asset flows into international and global equity services. Shares of Alliance Capital were up 61 cents to $44.79.
was down 1.2% after the New York-based brokerage said total daily average revenue trades were 121,086, down 3.7% from July and up 37.3% from a year ago. E*Trade also said total client assets were $103 billion, a 1.6% drop from July and a 31% increase over the year-ago period. New accounts for the month totaled 64,071, the company said, resulting in total end-of-period active accounts of 3,696,433. Shares of E*Trade were down 20 cents to $17.14.
( OXPS) rose 1.6% after the Chicago-based online brokerage reported that its daily average revenue trades for August reached 19,600, which was 87% higher than the year-ago period and 2% lower than July. The company's customer accounts grew to 143,200, 67% higher than the year-ago period and 4% higher than July. Ending client assets were $2.91 billion, 99% higher than the year-ago period and 5% higher than July. Shares of OptionsXpress were up 28 cents to $17.52.