Lehman Brothers Holdings Inc. (LEH: chart) said before the bell Wednesday its quarterly earnings more than doubled, boosted by strong results in its bond business and an improvement in equities. The investment bank, one of the biggest on Wall Street, reported fiscal 2003 fourth-quarter net income of $481 million, or $1.71 per diluted share, in contrast to $187 million, or 69 cents per diluted share, in the year-ago period. Analysts had called for net earnings of $1.57 a share, on average. For the quarter ended November 30, the New York-based brokerage posted net revenue of $2.3 billion, up 49% from $1.54 billion, a year earlier. Fixed-income revenue jumped 53% to $1.12 billion, while Lehman's revenue from client services was up to $273 million from $193 million, driven by the acquisition of money manager Neuberger Berman. For the full year, earnings came in at $1.65 billion, or $6.35 a share, on revenue of $8.65 billion, up from $906 million, or $3.47 a share, on revenue of $6.15 billion, in 2002.

Lehman shares slipped 1.57% to $73.39 at market close Wednesday.

Before Wednesday’s opening bell, The Bear Stearns Companies Inc. (BSC: chart) reported a 54% increase in its fiscal 2003 fourth-quarter profit, citing strong performance in its fixed-income business. The New York-based investment bank posted a net profit of $288.3 million, or $2.19 a share, for the quarter ended November 30, up from $190.5 million, or $1.36 a share, in the 2002 comparable quarter, and well ahead of the average analysts’ estimate for profit of $1.81 a share. Bear Stearns said total net revenue surged 36% to $1.5 billion. Revenue from its fixed-income business leapt to $648.9 million, up 40% from the fourth quarter of 2002, and investment banking revenue soared 168% to $250 million, helped by strong underwriting of equities and high-yield bonds. For fiscal 2003, the company said it earned $1.13 billion, or $8.52 per share, against $842.7 million, or $6.47 per share, last year.

Bear Stearns shares rose 2.82% on Wednesday to close at $76.60.

Bed Bath & Beyond Inc. (BBBY: chart) of Union, New Jersey, said after market close Wednesday it earned $100.5 million, or 33 cents per share, in its fiscal third quarter, compared with $75.1 million, or 25 cents per share, in the same period last year. The U.S. No.1 superstore domestics retailer topped by 2 cents analysts’ expectations. The company said results were due to stronger sales of home goods.

The stock gained 96 cents to close Wednesday at $39.96. Company shares were up 2.60% to $41.00 in after-hours trading.

Best Buy Co., Inc. (BBY: chart) posted Wednesday a third-quarter profit of $122 million, or 37 cents a share, a double increase from $59 million, or 18 cents a share, generated in the fiscal 2003 corresponding period. Results were in line with Wall Street’s projections. The Richfield, Minnesota-based U.S. leading consumer electronics retailer said strong sales of notebook computers and flat-panel televisions drove the results.

Company shares closed Wednesday up $1.98, or 4.00%, at $51.50. The stock added 23 cents to $51.73 in after-market trade.

Circuit City Stores, Inc. (CC: chart) of Richmond, Virginia, reported Wednesday a loss of $24.1 million, or 12 cents a share, for its third quarter, compared with a year-earlier loss of $26.1 million, or 13 cents a share. Results of the second largest U.S. consumer electronics chain were below the average analysts’ estimate for a loss of 7 cents a share, hurt by higher advertising expenses and weak sales.

The stock plunged 6.68% on Wednesday to $10.34. Company shares inched down 3 cents to $10.31 in after-market trade.

Boosted by improving demand for consumer electronics, Jabil Circuit, Inc. (JBL: chart) announced Wednesday a first-quarter net profit of $42.5 million, or 20 cents a share, a fivefold increase from $8.4 million, or 4 cents a share, in the fiscal 2003 equivalent. The St. Petersburg, Florida-based contract electronics manufacturer said revenue climbed to $1.51 billion from $1.07 billion, last year.

Jabil shares gained 63 cents to $26.80 at market close Wednesday. The stock rose 1.68% to $27.25 in after-hours trading.

FedEx Corporation (FDX: chart) said Wednesday its quarterly earnings tumbled 63%, hurt by restructuring charges. The Memphis, Tennessee-based delivery company reported a second-quarter net profit, including charges, of $91 million, or 30 cents a share, down from $245 million, or 81 cents a share, a year ago. Quarterly revenue rose to $5.92 billion from $5.67 billion, in the prior-year period.

FedEx shares closed Wednesday at $71.01, down $3.30, or 4.44%.

Herman Miller, Inc. (MLHR: chart) of Zeeland, Michigan, posted Wednesday second-quarter net earnings of $9.1 million, or 12 cents a share, down 23% from $11.8 million, or 16 cents a share, in fiscal 2003. The furniture manufacturer said sales dropped 7.6% to $330.3 million from $357.3 million. The company cited weak sales and restructuring charges as main factors for the profit drop.

The stock slipped 0.55% on Wednesday to close at $25.52. Company shares recovered a penny in after-hours trading.

Cognos Incorporated (COGN: chart) said after market close Wednesday its quarterly profit jumped 21.7% on the back of higher revenues. The Ottawa, Canada-based provider of enterprise business intelligence software reported net earnings of $24.2 million or 26 cents a share, for its third quarter, compared with $19.9 million or 22 cents a share, last year. Cognos results were a penny ahead of analysts’ forecasts. Revenues surged 24.7% to $172.2 million, from $138.1 million a year ago.

Cognos shares dropped 75 cents to $31.46 at market close Wednesday. The stock slid 0.67% to $31.25 in after-market trade.

Winnebago Industries, Inc. (WGO: chart) of Forest City, Iowa, said Wednesday it earned $18.1 million, or $1.01 a share, in its first quarter, in contrast to a year-ago net profit of $16.3 million, or 85 cents a share. On average, analysts had expected earnings of 87 cents a share. The motor home maker said strong demand for its new models boosted the results.

The stock soared 8.03% on Wednesday to $65.23. Company shares added 37 cents to $65.60 in after-hours trading.