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Lehman shares rebound as Fuld pledges to execute
Comparison of two summaries:
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Information unique to its summary
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Information unique to summary from multiple countries, from articles in English
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Information unique to summary from United States, from articles in English
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Wall Street started the week with a mixed finish on Monday as investors weighed volatility in oil prices against new hope for the financial sector after Lehman Brothers posted results. (article 6)
Lehman Brothers Holdings Inc. posted a nearly $3-billion US loss Monday, after the fourth-largest U.S. investment bank was hurt by wrong-way hedging and trading positions. (article 3)
The results marked the first time that Lehman Brothers recorded a loss since going public in 1994, and confirmed what the company had forecast last week. (article 3)
Traders took comfort from comments from Lehman bosses on Monday that the worst may be over for the investment bank, sending shares up 7%. (article 5)
" This is my responsibility Fuld declared in his first comments since the bank forecast last week it lost nearly $3 billion from bad bets in mortgage-backed securities and other risky investments. (article 1)
As the longest serving CEO left on Wall Street, his mission now is clearly to restore confidence to the firm's tarnished image. (article 1)
On Monday, Lehman announced it was raising $6 billion in capital to shore up its books, but the stock has continued its downward spiral as credit rating agencies and analysts cut the firm's rating. (article 4)
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Wall Street started the week with a mixed finish on Monday as investors weighed volatility in oil prices against new hope for the financial sector after Lehman Brothers posted results. (article 4)
Stocks spent much of the session mostly lower after a fresh record for crude oil and a decline in regional manufacturing activity touched off concerns about the economy. (article 4)
The Dow Jones industrial average fell 38.27 points, or 0.31 percent, to 12,269.08 after being down more than 95 points early in the session. (article 4)
Lehman the smallest of Wall Street's major investment banks after the near collapse and buyout of rival Bear Stearns in March said Thursday that it is replacing chief operating officer Joseph M. Gregory and chief financial officer Erin Callan. (article 3)
Callan has been the public face of Lehman Brothers since being promoted to the CFO position in December, defending the firm's performance to analysts and investors. (article 3)
Ian T. Lowitt who has been the firm's co-chief administrative officer for the past two years, is to succeed Callan and will join Lehman's executive committee. (article 3)
As the longest serving CEO left on Wall Street, his mission now is clearly to restore confidence to the firm's tarnished image. (article 1)
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Source articles
- Lehman shares rebound as Fuld pledges to execute (Washington Post, 06/14/2008, 561 words)
- At Lehman, Chief Exudes Confidence (nytimes.com, 06/17/2008, 1042 words)
- Lehman Brothers loses $2.87B (cbc.ca, 06/16/2008, 335 words)
- Lehman Brothers Removes Finance, Operating Chiefs (Washington Post, 06/14/2008, 434 words)
- Lehman Brothers posts $2.8bn loss (BBC News, 06/16/2008, 227 words)
- Shares Are Mixed as Oil Price Declines (nytimes.com, 06/17/2008, 532 words)
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Source articles
- Lehman shares rebound as Fuld pledges to execute (Washington Post, 06/14/2008, 561 words)
- At Lehman, Chief Exudes Confidence (nytimes.com, 06/17/2008, 1042 words)
- Lehman Brothers Removes Finance, Operating Chiefs (Washington Post, 06/14/2008, 434 words)
- Shares Are Mixed as Oil Price Declines (nytimes.com, 06/17/2008, 532 words)
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Story keywords
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Lehman, Fuld, bank, Investment, Callan |
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blaster@cs.columbia.edu
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