Lehman Set to Raise $5 Billion Amid Losses

Wall Street Journal (06/09/08) P. C1; Craig, Susanne
Lehman Brothers Holdings is expected to report a loss of more than $2 billion in the second quarter, largely due to asset write-downs and hedges to offset losses in real estate and other securities. Most Wall Street analysts were anticipating a loss of about $300 million. Concerns about Lehman's financials and exposure to the mortgage market have sent its stock down by about 50 percent this year. Meanwhile, Lehman is close to raising more than $5 billion from primarily U.S. investors, including the New Jersey Division of Investment.