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Premarket Movers: Bear Stearns Falls



17 March 2008 @ 07:34 am EST

NEW YORK (AP) - Bear Stearns Cos. led financial shares sharply lower in premarket trading Monday, as news of a last-minute buyout of the ailing investment house and an emergency rate cut by the Federal Reserve confirmed fears about the economy.

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Quotes
BSC 0 0
JPM 35.31 0.71
LEH 22.85 0.49
GS 178.89 0.1
STT 62 0.52
SCHW 20.35 -0.12
IVZ 23.56 -0.06
BK 37.05 0.55

SYMBOL LOOKUP

Bear Stearns shares plummeted $26.43, or 88 percent, to $3.57, well above the $2 per share offered by JPMorgan Chase & Co. over the weekend.

Shares of Lehman Brothers Holdings Inc. plunged $11.46, or 29 percent, to $39.26.

Goldman Sachs Group Inc. dropped $13.87, or 8.8 percent, to $142.99.

State Street Corp. fell $5.12, or 6.7 percent, to $71.

The Bank of New York Mellon Corporation lost a dollar, or 2.3 percent, to $42.

Shares of discount broker Charles Schwab Corp. and investment manager Invesco Ltd. remained flat at $19.79 and $22.13, respectively.

Copyright 2008 The Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

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