JPMorgan Chase

Stories 281 - 300 | << Prev   Next >>

Bear Bid Boosts Stocks
 Bear Bid Boosts Stocks 
MARKETS
Mar 24, 2008 3:49 PM CDT

Bear Bid Boosts Stocks

Unexpectedly strong home sales also spur rally

(Newser) - Stocks ended up today, thanks to JPMorgan's increased bid for Bear Stearns and unexpectedly strong monthly home-sales data. Still, investors remained cautious, the Wall Street Journal reports. "Who knows if there's going to be another Bear Stearns out there?" an analyst asked. The Dow finished up 187.32 at...

JPMorgan Boosts Bear Stearns Offer to $10/Share

Bank hopes to stem criticism by quintupling bid

(Newser) - JPMorgan will quintuple its takeover offer for Bear Stearns, setting a new $10-per-share price today after a weekend of tense renegotiations. Bear shareholders had objected to the proposed $2 deal, saying the bank-saving bid was a heist. JPMorgan is also buying 95 million more shares of the bank, which will...

JPMorgan in Talks to Boost Bear Stearns Bid

Attempt to mollify furious Bear stockholders

(Newser) - JPMorgan Chase was in negotiations last night to quintuple its bid for Bear Stearns following a storm of angry protests by Bear shareholders over the initial bargain-basement deal for the investment banking giant, reports the New York Times. Under the new deal, JPMorgan Chase would pay $1 billion—$10 a...

Cramer: the Bear Has Been Tamed

Bombastic market guru says Bear deal marks end of crisis; buy JP Morgan

(Newser) - We've hit bottom, Jim Cramer proclaims. Bear Stearns' collapse may have been apocalyptic in scale, but it at least woke up a complacent Fed and Treasury secretary, the bombastic market guru writes in New York today. “We’ve been through dozens of false bottoms,” he says, but now...

Cash-Strapped Borders Considering Selling Itself

Parts, or all, of bookseller on table, it secures $42.5M loan to keep going

(Newser) - Bookseller Borders is considering selling itself or some of its divisions, the Detroit Free Press reports today. The company, based in Ann Arbor, Mich., is in the midst of a turnaround, but is desperately short on cash, today borrowing $42.5 million from its biggest shareholder, Perishing Square Capital Management....

Bear Stearns Hires Trauma Counselors

Bank's employees facing loss of savings, jobs after buyout

(Newser) - Bear Stearns will provide grief counseling for employees facing decimated stock holdings, and the possible loss of their jobs, after the bank's sale to JP Morgan, ABC News reports. "Anything that effects human behavior or emotions at work are the areas where we focus," says one such professional....

Angry Shareholders Want More for Bear Stearns

Bargain basement $2 price sets up potential battle, lawsuits

(Newser) - Bear Stearns shareholders are threatening to vote against its sale to JPMorgan, saying the $2 price per share for the nation’s fifth largest investment bank is unrealistic; speculators seem to agree, trading up Bear stock to $5.91 yesterday, a 23% bump. Expect some serious brinkmanship to force a...

Economy in 'Sharp Decline,' Paulson Admits

He won't say recession, but treasury secretary comes close

(Newser) - Hank Paulson came closer than ever to conceding that the economy is in recession in a series of interviews yesterday, Reuters reports. Weary after a weekend in which he helped to broker Bear Stearns' fire sale to JPMorgan, the treasury secretary avoided the R-word but admitted: "There's no doubt...

Bear Stearns Jumps on Hope for Higher JPMorgan Bid

Likely stockholder holdout drives spike

(Newser) - Bear Stearns shares jumped 23% today on hopes that stockholders will reject JPMorgan's bailout offer in favor of a higher offer, Bloomberg reports. The surge moved the price to nearly three times the current value of the fire-sale bid, which one major stockholder termed "derisory." "There's every...

Stocks Bounce, End Mixed
 Stocks Bounce, End Mixed 
MARKETS
Mar 17, 2008 3:50 PM CDT

Stocks Bounce, End Mixed

Stocks are up... no down... what's going on?!

(Newser) - Stocks seesawed throughout the day, finally ending today's session mixed, with the Dow closing up. The markets struggled to rebound from serious losses sustained after Bear Stearns' fire sale; buyer JPMorgan Chase's stock closed up 11%. The Dow ended up 21.16 at 11,972.25, the Nasdaq down 35....

JP Morgan CEO Emerges as Wall Street Force

Dimon builds on rep for staying cool in a crisis

(Newser) - JP Morgan Chase CEO James Dimon is a hands-on boss who writes out a detailed to-do list each morning and has managed to keep his company healthy while many of its rivals are ailing or even critically ill, reports the Wall Street Journal. Dimon's focus has been on creating a...

Stocks Rebound, Countering Selloff in Financials
Stocks Rebound, Countering Selloff in Financials
Market Update
Mar 17, 2008 10:17 AM CDT

Stocks Rebound, Countering Selloff in Financials

Bear Stearns buyout sends JP Morgan up, Lehman Brothers down

(Newser) - Stocks steadied after steep early morning losses today, with the Dow actually rising 1.06 points by mid-morning, the Wall Street Journal reports. But financials were still down big, as the Bear Stearns fire sale loomed large over the market. Lehman Brothers, down 22%, was hit the worst, other than...

Investors Ask: Who's Next?
 Investors Ask: Who's Next? 
Mar 17, 2008 6:54 AM CDT

Investors Ask: Who's Next?

Wall Street survived the near-collapse of Bear Stearns, but there's more trouble ahead

(Newser) - Wall Street, reeling over JP Morgan’s bargain-basement purchase of Bear Stearns, is anxiously watching to see “who’s next” to succumb to the continuing credit squeeze, reports the Financial Times. As investment banks prepare to release first quarter results this week—led by Goldman Sachs and Lehman Brothers...

Dollar Nosedives, Global Markets Tumble
 Dollar Nosedives,
 Global Markets Tumble 
UPDATED
Mar 17, 2008 3:55 AM CDT

Dollar Nosedives, Global Markets Tumble

Greenback falls to record lows after Bear buyout, rate cut

(Newser) - The dollar took a pummeling and equity markets in Europe and Asia slumped as worried investors reacted to the Bear Stearns fire sale and the Fed's emergency rate cut. The dollar dropped to a shocking 95 yen, hit an all-time low of $1.59 against the euro, and remained below...

JP Morgan Buys Bear Stearns for $2 a Share

Deal rushed today to avoid filing for bankruptcy

(Newser) - JP Morgan has agreed tonight to buy Bear Stearns for a scant $2 a share, a bargain-basement price—stock closed at $30 a share—that demonstrates the urgency of staving off the collapse of the venerable investment bank and widespread panic in financial markets, the AP reports. The Bush administration...

Wounded Bear Scrambles for a Savior
Wounded Bear Scrambles
for a Savior
Mar 15, 2008 3:38 PM CDT

Wounded Bear Scrambles for a Savior

Stearns hopes to find a quick buyer in troubled times

(Newser) - What's next for Bear Stearns? A Wall Street institution for the better part of a century, it is now scrambling to find a buyer. Its best hope is JP Morgan, which provided a temporary lifeline yesterday along with the Fed. But other possible suitors include Citibank and HSBC, the Wall ...

JP Morgan, Feds Bail Out Bear Stearns

The investment bank's liquidity crisis forces it to ask for emergency help

(Newser) - Bear Sterns has reached out to rival JP Morgan Chase and the Federal Reserve Bank of New York for emergency funding to reassure investors concerned about the struggling investment bank's deteriorating liquidity, the Wall Street Journal reports. The move is a startling indicator of how hard the subprime virus has...

Home-Equity Loans Latest to Bite Banks

Even lenders that dodged subprime chaos suffering big trickle-down losses

(Newser) - Home-equity loan defaults are soaring, the Wall Street Journal reports, as the trickle-down effect of the subprime mortgage crisis makes its way into what was once a source of big profits for lenders. JP Morgan Chase and Wells Fargo both escaped major writedowns on subprime mortgages gone bad, but already...

Goldman Analysts Warn of Next Crisis

Commercial real estate outlook even worse than subprime situation

(Newser) - Commercial real estate could be the next victim of the current economic downturn, and if it is, expect it to cause another full-fledged crisis, the Wall Street Journal reports. Commercial real estate values could fall as much as 26% over the next 2 years, Goldman Sachs analysts predict, leading to...

Shakeup May Signal E*Trade's Availability

New chairman could steer struggling brokerage toward buyer

(Newser) - E*Trade Financial, stung by mortgage- and mortgage-backed securities market losses, is adding CEO to chairman Donald Layton's duties. The company may be dolling itself up for a possible sale by polishing its tarnished image, the Wall Street Journal reports. Since Layton, 57, became chairman in November, the brokerage has rebounded...

Stories 281 - 300 | << Prev   Next >>
Most Read on Newser