Pros on CNBC discuss JPMorgan Chase after it acquires First Republic Bank.
Market Movers rounded up the best reactions from investors and analysts on JPMorgan Chase 's stock movement.
The experts, including Jim Cramer , discussed how the bank, already the nation's largest by several measures, acquired most of troubled First Republic Bank's assets in a weekend auction. Prior to the market's open on Monday, regulators took possession of First Republic , resulting in the third failure of an American bank since March. JPMorgan shares finished the trading day up 2.1%.
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JPMorgan Chase takes over First Republic after U.S. seizure of ailing bankJPMorgan acquired all of First Republic's deposits and a 'substantial majority of assets.' Its shares rose 2.6% in premarket trading on the news.
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JPMorgan Chase Takes Over First Republic After Biggest U.S. Bank Failure Since 2008Regulators took possession of First Republic on Monday, resulting in the third failure of an American bank since March. JPMorgan Chase will get all of the ailing bank's deposits and a 'substantial majority of assets,' the New York-based bank said.
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First Republic’s crisis is not an isolated incident - suggests JPMorgan execIn an April 27 Bloomberg Interview, JP Morgan Asset Management CIO, Bob Michele said that the crisis currently faced by First Republic Bank, isn’t “limited” to the bank itself, but a wider banking problem. He noted “some sort of resolution' is vital.
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PNC, JPMorgan putting in final bids for First Republic Bank in FDIC auctionRegulators have been trying to arrange a sale of First Republic over the weekend, with roughly half a dozen banks bidding, in what is likely to be the third major U.S. bank to fail in two months.
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JPMorgan Chase Agrees To Acquire First Republic Bank’s Deposits After FDIC InterventionJPMorgan Chase has agreed to assume all deposits of First Republic bank as part of a deal inked with the FDIC.
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