Lehman Brothers preannounced
earnings (actually, big losses) this morning. Here is the press release
, which details how the firm wants to spin off commercial real estate assets, how it's slashing its dividend, and how it's looking to sell a majority stake in its asset management arm. Also, here is some press coverage from Bloomberg
. Now we see how the market reacts. In pre
-market trading, bonds and stocks have been all over the map -- both up and down.