Bear Stearns Companies Inc. (BSC) Shares Surge on Possible Sale
Bear Stearns Cos. shares rose 3 percent on Wednesday, amid a new round of speculation the nation's fifth-largest investment bank might be in talks to sell a minority stake to another financial institution.
The stock rose $4.10, or 3.6 percent, to $118.34 in midday trading. Bear's stock fell about 30 percent during the summer because of hedge fund losses, but began to recover after it reported third-quarter results last week.
There has been speculation that talks might involve a European or Asian bank. In the past, Wall Street analysts have suggested Britain's HSBC PLC or Deutsche Bank AG could be interested in acquiring a stake in the investment house.
The stock rose $4.10, or 3.6 percent, to $118.34 in midday trading. Bear's stock fell about 30 percent during the summer because of hedge fund losses, but began to recover after it reported third-quarter results last week.
There has been speculation that talks might involve a European or Asian bank. In the past, Wall Street analysts have suggested Britain's HSBC PLC or Deutsche Bank AG could be interested in acquiring a stake in the investment house.
Labels: Bear Stearns Companies Inc., BSC
posted by Stock Administrator @ 5:55 PM
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