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Market Talk: Lehman (LEH) - New Lows In Sight

Well so much for the short selling crack-down. Lehman Brothers (NYSE: LEH) closed down 13% today to $13.07 per share, putting in-play the 52-week low of $12.02 hit on July 15th when rumors about the company's demise were rampant.

Not like it's new news, but JP Morgan was out today saying they expect Lehman to write-off an additional $4 billion in its fiscal third-quarter. JP Morgan now sees a Q3 loss of $3.30 per share. In addition, after the close, Goldman Sachs lowered their Q3 estimates on Lehman to a loss of $2.75 per share. This sent share down even further - $12.63 was the last trade.

There is also tons of speculation about what Lehman will do with their Neuberger Berman investment management unit. The latest reports suggest the company will sell 70% of the unit, but some suggest selling the unit would be a bad idea since it is the one bright-spot for the company.

More Rumors ($): http://www.streetinsider.com/Rumors

Hedge Fund Trade of the Day - David Einhorn's Greenlight Capital

David Einhorn's Greenlight Capital hedge fund released its 13F for the quarter ended June 30, 2008 last week. Einhorn has made headlines over the past few months related to his short sale on Lehman Brothers (NYSE: LEH), but the 13F only shows his long positions. Notable Einhorn is showing a 7M+ share stake in Dr Pepper (NYSE: DPS), which was spun-off from Cadbury. He is also showing new stakes in Teradata (NYSE: TDC) and Unitedhealth (NYSE: UNH), among others. Einhorn dramatically cut his stake in Microsoft (Nasdaq: MSFT) and got rid of his entire Discover Financial (NYSE: DFS) position.

Full 13F Highlights

Analyst Call To Watch - Matercard (MA)

Goldman Sachs upgrades Mastercard (NYSE: MA) from Neutral to Buy with a $275 price target, citing overseas growth which will insulate the company from U.S. credit weakness. The firm said the recent pullback is overdone and recommend buying the shares.

More Upgrades: http://www.streetinsider.com/Upgrades