Bear Stearns (BSC) Jumps In Pre-Open Trading
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Bear Stearns (NYSE: BSC) is trading 6.4% higher in pre-open action following comments on a Merrill Lynch conference.
Investors are feeling better after the company said it sees a Q4 writedown of $1.2 billion and said it now has a net subprime exposure of negative $52 million, versus $1 billion at the end of August. CDO related exposure is now at $884 million, down from $2 billion.
The company also said it hopes the worst in mortgages is behind them.
Investors are feeling better after the company said it sees a Q4 writedown of $1.2 billion and said it now has a net subprime exposure of negative $52 million, versus $1 billion at the end of August. CDO related exposure is now at $884 million, down from $2 billion.
The company also said it hopes the worst in mortgages is behind them.
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