Jay Hancock's blog: JPMorgan shares soar $4 on Bear Stearns buy - Business news: Stock markets, banks and economic observations with columnist Jay Hancock

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March 17, 2008

JPMorgan shares soar $4 on Bear Stearns buy

JPMorgan Chase stock is up 10 percent as of this writing. And why not? It got exclusive negotiating rights to buy Bear Stearns, struck a deal at a rock-bottom price and got the government to limit any downside. Usually shares in acquiring companies sink. But this isn't business as usual.

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About Jay Hancock

Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Tuesdays and Sundays.

Follow @jayhancock1 on Twitter