Sector Snap: Investment Banks mostly rise

Shares of Goldman Sachs Group Inc. fell in the afternoon, while Morgan Stanley, Merrill Lynch & Co. and Lehman Brothers Holdings Inc. rose.

Lehman Brothers Inc. was the sector's biggest gainer of the day. Shares of Lehman rose 80 cents, or 4 percent, to $21.

Shares of Lehman plunged earlier in the month, falling as low as $12.02 on July 15 before rebounding over the past week and a half. Lehman has been considered one of the investment banks hit hardest by deterioration in the credit and mortgage markets over the past year.

Elsewhere among investment banks, Merrill Lynch shares fell 96 cents, or 2.8 percent, to $33.22.

Last week, Merrill Lynch said it lost $4.89 billion, or $4.97 per share, as it continued to be hit hard by deterioration in the credit markets. The investment bank said it would sell stakes in Bloomberg LP and Financial Data Services Inc. to help offset mounting losses in its mortgage and investment portfolios.

Morgan Stanley shares rose 53 cents to $39.20, while Goldman Sachs shares added 15 cents to $188.19.