Market Extra: First Republic seen drawing bids from JPMorgan and PNC amid report of ‘imminent’ FDIC seizure

Daily Trade

First Republic Bank FRCis said to be drawing bids from lenders JPMorgan Chase & Co. JPM and PNC Financial Services Group PNC, according to the Wall Street Journal late Friday night, citing people familiar with the matter.

The WSJ report follows another harrowing day for the San Francisco-based lender that has lost nearly all of its value so far this year after tumbling 43% on Friday, amid reports that the financial institution’s condition had deteriorated so substantially as to make a private-sector rescue untenable, with…

Articles You May Like

Nvidia (NVDA) Stock Earnings: What Should Investors Watch For?
New Top 5 Sectors | Stock Market Analysis | (RTN) (OSK) (HXL) (STP) (SWX)
Are Prop Firms A Good Idea For New Traders? #OptionsTrading
Is the D-Wave Quantum Stock Run Over?
Two Lazy Options Strategies that are Hands Off