Shares of major securities firms fell and bank stocks sputtered Monday despite Lehman Brothers Holdings Inc.'s unexpectedly strong first-quarter earnings.

Fueled by trading and investment banking revenue, Lehman Brothers' net income for the period more than doubled to $541 million, or $3.69 a share, from $211 million, or $1.57 a year earlier. The consensus for company was $2.88, according to First Call/Thomson.

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