UPDATE 1-Lehman may report early, raise $5 bln-reports

(Adds Bloomberg report about capital raising, Lehman declining to comment, premarket trading)

June 6 (Reuters) - Lehman Brothers Holdings Inc LEH.N may release second-quarter results a week earlier than expected, coupled with the announcement of a plan to raise capital, the New York Post said on Friday, citing a person familiar with the matter.

Wall Street's smallest surviving major brokerage would announce a plan to raise capital through a rights offering, the newspaper said, citing the person. CNBC Television also reported about the possibility of an early earnings announcement and rights offering late on Thursday.

Separately, Bloomberg News reported that Lehman could raise as much as $5 billion.

Lehman spokeswoman Kerrie Cohen declined to comment on all the reports.

Lehman shares were up 1.3 percent in premarket electronic trading.

The fourth-largest investment bank had been expected to report quarterly results during the week of June 16. Wall Street analysts this week wrote they expect Lehman to incur losses from hedging in the second quarter, amid an overall tough operating environment.

Wachovia Capital Markets analyst Douglas Sipkin said Lehman could suffer $3 billion of losses tied to asset sales and hedging. Deutsche Bank Securities Inc analyst Michael Mayo said the bank might raise $4 billion of common equity.

Analysts on average expect Lehman to post a second-quarter loss of 29 cents a share, according to Reuters Estimates.

Shares of Lehman closed at $33.85 Thursday on the New York Stock Exchange, and are down 48 percent this year. The shares fell 19 percent on Monday and Tuesday as investors speculated on the company's health. (Reporting by Tenzin Pema in Bangalore and Christian Plumb and Joseph Giannone in New York; Editing by David Holmes and Dave Zimmerman)