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Bear Stearns Co

September 15, 2000 | Bloomberg News
Bear Stearns Cos. said fiscal third-quarter net income fell 5.7% to $181.4 million, or $1.32 a share, because of a decline in investment banking that was partly offset by gains in its trading business. Bear Stearns, which has one of the biggest trade-clearing operations on Wall Street, said net revenue rose 6% to $1.3 billion, with stock trading and commissions generating $790 million, or more than half. Commissions earned by executing orders rose 9.
August 9, 2000 | Reuters
Bear, Stearns Cos. said it paid $30 million to settle a lawsuit that claimed the securities company gave bad merger advice to a software company that later went bankrupt. The settlement comes 11 years after Bear Stearns advised California software company Daisy Systems Corp. in the takeover of a smaller rival. A Bear Stearns spokeswoman confirmed the settlement but gave no further details, other than to say Bear Stearns dropped a claim for $2.
July 25, 2000 | Bridge News
Is Bear Stearns the next brokerage to go on the auction block? The Wall Street firm's shares (ticker symbol: BSC) jumped $3.44 to $49.75 on the New York Stock Exchange Monday after an analyst at rival Salomon Smith Barney said Bear's top executive may be open to a takeover. Guy Moszkowski, the Salomon analyst, said in a report that Bear CEO James Cayne has indicated he would consider the right offer.
March 16, 2000 | Bloomberg News
Bear Stearns Cos., the No. 6 securities firm, said net income rose 20% in its fiscal first quarter, as rising investment banking fees offset a slump in bond trading. The 77-year-old firm earned $278.2 million, or $1.89 a share, in the three months ending Feb. 25, up from $230.7 million, or $1.45 per share. The average forecast of five analysts surveyed by First Call Corp. was $1.52 a share. Investment banking revenue rose 31% to $308.2 million. . . .
October 14, 1999 | From Times Wire Services
Bear Stearns Cos. on Wednesday said profit more than doubled in its fiscal first quarter from depressed levels a year ago, but the results failed to meet analysts' estimates, sending the securities firm's shares down 9%. Net income jumped to $157.9 million, or $1 a share, from $64.1 million, or 38 cents, a year earlier, when global financial market turbulence battered profits at most Wall Street firms. The results fell 13% short of Wall Street estimates of $1.
January 20, 1999 | From Bloomberg News
Charles Schwab Corp., Merrill Lynch & Co., Bear Stearns & Co. and PaineWebber Group Inc. reported quarterly profits that beat estimates, as gains in commissions and asset management offset declines in trading and investment banking. A surging stock market spurred investors to buy and sell equities, boosting trading and the commissions that brokerages earn. It also drew new money into mutual funds. Schwab was the only brokerage of the four to report a profit increase.
March 4, 1998 | Bloomberg News
Computer Sciences Corp. asked a federal court to bar Bear, Stearns & Co. from advising Computer Associates International Inc., claiming the investment bank received confidential information from a CSC business partner. CSC said Bear Stearns received proprietary information from its relationship with Equifax Inc., a former partner with CSC in a credit-services joint venture called CSC Enterprises.
August 1, 1997 | (Dow Jones)
Bear Stearns Cos. has taken a 5.2% stake in Biopsys Medical Inc., Irvine-based developer of devices to diagnose breast cancer, according to documents filed with the Securities and Exchange Commission. Bear Stearns said it bought the stock in "the ordinary course of business as a broker/dealer" and has no extraordinary plans for Biopsys. Bear Stearns owns 510,615 shares of Biopsys stock.
December 29, 1995 | JON GARCIA
It's been a beary good Christmas for Samson, the 600-pound California black bear who garnered fame for splashing in a hot tub and swiping avocados after he wandered into a Monrovia neighborhood two summers ago. The Orange County Zoological Society, which is building Samson a new home, received a $10,000 donation toward construction from, um, Bear, Stearns & Co., a New York brokerage with offices in Los Angeles.
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