Bear Stearns Cos.: The New York-based investment...
From Times Staff and Wire Reports
Bear Stearns Cos.: The New York-based investment banking and brokerage firm reported profit of $119.4 million for the fiscal year, down 30.7% from fiscal 1989, on revenue of $2.4 billion, similar to the previous year. The parent of the investment firm Bear, Stearns & Co. pointed to good fourth-quarter performances in mortgage-backed securities, government bond and equity trading as bright spots in a tough year for the industry.
