Shearson Lehman Hutton Holdings Inc.’s third-quarter earnings...

Shearson Lehman Hutton Holdings Inc.’s third-quarter earnings fell 85% to $8 million because of a decrease in investor participation and costs related to its acquisition of E. F. Hutton Group Inc. The New York brokerage said revenue rose 67% to $2.63 billion. Paine Webber Group Inc. also reported a lack of retail and institutional activity, but the firm managed to post a 41% gain to $20.9 million, partly on the sale of its interest in a car rental company. Revenue rose 2% to $642.4 million.