Rochester, NY 7/10/2009 11:42:27 PM
News / Finance

Stock Exchange News - JPM - The 2nd update of JPM to Treasury Auction Warrants - Sourced WhisperFromWallStreet.com

JP MORGAN CHASE CO

Stock Exchange News - JPM - The 2nd update of JPM to Treasury  Auction Warrants - Sourced WhisperFromWallStreet.com

COMPANY - JP MORGAN CHASE CO,JPM

NEWS - JPMorgan Chase & Co, seeking to completely extricate itself from a federal bailout program, has asked the government to auction warrants to buy the bank's stock, after the Treasury Department demanded too high a price for the bank to buy them back.The government obtained warrants to buy stock at fixed prices in hundreds of banks that took money from the $700 billion Troubled Asset Relief Program. While 11 smaller banks have repurchased their warrants, the valuation has emerged as a flashpoint for big banks as the government pushes aggressively to reform the nation's banking system.

Real-Time: 32.61 Down 1.01 (3.00%) 12:13PM ET

Last Trade:         32.55
Day's Range:      32.51 - 33.67
52wk Range:      14.96 - 50.63
Volume:              19,723,917

ABOUT - JPMorgan Chase & Co., a financial holding company, provides a range of financial services worldwide. It operates in six segments: Investment Bank, Commercial Banking, Treasury & Securities Services, Asset Management, Retail Financial Services, and Card Services. Investment Bank segment provides investment banking products and services, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market-making in cash securities and derivative instruments, and prime brokerage and research. It serves corporations, financial institutions, governments, and institutional investors.

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