Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (15774)	7/16/2002 9:52:53 AM
From: isopatch	Read Replies (2) of 36161

JP Morgan..the latest denials Act III of the Emperors New Clothes.... Isopatch ======================================================= biz.yahoo.com <Tuesday July 16, 9:26 am Eastern Time Reuters Business Report J.P. Morgan Denies Liquidity Rumors NEW YORK (Reuters) - J.P. Morgan Chase & Co. Inc. (NYSE:JPM - News) on Tuesday denied rumors in European markets that the No. 2 U.S. bank holding company was having liquidity problems. ADVERTISEMENT "The rumors are untrue and irresponsible," a J.P. Morgan spokesman in New York said. The bank's stock fell in European trade. Dealers cited rumors of liquidity problems. J.P. Morgan will report second-quarter results on Wednesday, the company spokesman said. Its earnings per share are expected to nearly double from a year earlier, to about 65 cents a share, according to analysts polled by market data firm Thomson First Call. Corporate loan problems have beset J.P. Morgan in recent quarters. The bank was a leading lender to bankrupt energy trader Enron Corp. (Other OTC:ENRNQ.PK - News) and also to telecommunications company WorldCom Group (NasdaqNM:WCOME - News), which recently disclosed what could be one of the largest accounting frauds ever. J.P. Morgan shares fell to $28.50 in pre-open trading from a Monday close at $30.08>

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