Bear Stearns Profit Increases by 23%
From Bloomberg News
Bear Stearns Cos.’ fourth-quarter earnings rose 23% as income from packaging home mortgages into securities led to the firm’s most profitable year since going public in 1984.
The sixth-largest U.S. securities firm by capital earned $190.5 million, or $1.36 a share.
Bear Stearns shares rose 60 cents to $62.45 on the New York Stock Exchange.
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