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- JPMorgan, Morgan Stanley, and others big banks in talks to strengthen First Republic – WSJ
JPMorgan, Morgan Stanley, and others big banks in talks to strengthen First Republic – WSJ
According to the Wall Street Journal, JPMorgan, Morgan Stanley and other banks are “discussing a potential deal with First Republic that could include a sizable capital infusion to shore up the beleaguered lender, people familiar with the matter said.”
Market reaction
First Republic shares are falling 23% on Thursday at $24.00, after rebounding from $21.00 following the WSJ report.
After opening with losses, Wall Street indexes turned positive during the last hour. The Nasdaq is up 0.90% and the Dow Jones rises by 0.16%.
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