Shares of Lehman Brothers Holdings wobbled in premarket trading Tuesday after a published report said the investment bank will report its first quarterly loss since going public and may need to raise billions in capital.
Citing people familiar with the matter, The Wall Street Journal did not specify how much cash will be raised, but said that analysts and Wall Street executives estimate the amount to be between $3 billion and $4 billion.
Lehman shares fell more than 2 percent in premarket trading but later rebounded and were up slightly just ahead of the open.
Auxilium Pharmaceuticals Inc. said its experimental drug to treat Dupuytren's contracture, a diabetes-related condition, met its goal in two late-stage trials. Shares fell 5.3 percent to $29.87, however.
Shares of Lululemon Athletica Inc. fell 9.4 percent to $29.20 in early action after the sportswear maker lowered its fiscal 2008 earnings outlook range slightly on Monday, citing higher spending on growth initiatives.
General Motors Corp. saw its shares rise 2.2 percent to $17.83 from Monday's close of $17.44 after the auto maker said in advance of its annual meeting that it would shutter four truck and SUV plants in the U.S., Canada and Mexico as surging fuel prices hasten a dramatic shift to smaller vehicles.
Luxury homebuilder Toll Brothers Inc. shares rose 35 cents to $21.35 despite posting a loss of $93.7 million for the second quarter on hefty write-downs of land.
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