Bear Stearns would have had something to celebrate with net income in the first quarter rising 36%, but half of that record $514 million loses some of its glow when considering the $250 million fine the company has agreed to pay the New York Stock Exchange and the Securities and Exchange Commission to settle market-abuse charges. Aside from the growth spurt, which was bigger than analysts predicted, and the fine, there was concern about performance of its clearing services, which dropped 2% from a year ago. In a note to clients, Chris Meyer, a Morgan Stanley analyst, writes that that "weakness in clearing will give reason to pause."