Lehman

-profit in 2Q increases 27%, $2.21 vs $1.69 -Equity trading revenue doubled, underwriting fees increased 76% -Investment Banking 55% to $1.5 bil, M&A fees 14% to $277 mi -48% revenue from Non-US vs 40% 1Q -FI trading revenue drop 14% to $1.89 bil (out of $5 bil) -Share price increase 0.4 to $76.06 -10y Bond (A), 110 bps FV