Bear Stearns $854M loss for Q4 - Democratic Underground

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Thu Dec-20-07 08:50 AM
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Bear Stearns $854M loss for Q4

NEW YORK, Dec 20 (Reuters) - Bear Stearns Cos Inc BSC.N on Thursday reported its first quarterly loss in the company's history, capping a fiscal year when the fifth-largest U.S. investment bank took a beating on bad bets on risky subprime mortgages.

Bear Stearns reported a net loss of $854 million, or $6.90 a share, for the quarter ended Nov. 30. That compared with a year-ago profit of $563 million, or $4 a share. (Reporting by Tim McLaughlin, editing by Dave Zimmerman)

http://www.reuters.com/article/marketsNews/idUKWNAS505520071220?rpc=44

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