Sept. 20 (Bloomberg) -- Bear Stearns Cos., the securities firm hit the hardest by the collapse of the subprime mortgage market, reported its biggest profit decline in more than a decade. The shares rose after the company said the worst is over.
Third-quarter net income dropped 61 percent to $171 million, or $1.16 a share, in the three months ended Aug. 31 from $438 million, or $3.02, a year earlier, the New York-based firm said today in a statement. Profit fell short of analysts' estimates. BLOOMBERG
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