JPMorgan (JPM) is advising First Republic (FRC) on strategic alternatives, which may include a capital raise, sources told CNBC’s David Faber. The Wall Street Journal reported earlier that JPMorgan CEO Jamie Dimon was working with others in the industry for a solution for the bank. First Republic shares are down about 34% in afternoon trading. Reference Link
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on FRC: