Speculation about takeovers lifted brokerage shares Monday after a report that the chief executive officer of Bear Stearns Cos. might be open to selling it.

Shares of Bear Stearns and Lehman Brothers - two companies investors often name as takeover candidates - rose to 52-week highs. The catalyst was a report by Guy Moszkowski, an analyst at Citigroup Inc.'s Salomon Smith Barney, on his interview last Thursday with Bear Stearns CEO James Cayne. In a research note dated Friday, Mr. Moszkowski said Mr. Cayne "signaled somewhat of a change in attitude."

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