JPMorgan shares rise after Fed OKs restart of buybacks | Essentials

JPMorgan shares rise after Fed OKs restart of buybacks

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NEW YORK JPMorgan Chase (JPM) said Thursday that it has won approval from the Federal Reserve to start buying back its own stock. The bank suspended the plan in May, after it revealed a surprise trading loss that grew to more than $6 billion. The bank said in a regulatory filing that the Fed gave the OK earlier this week. The plan calls for JPMorgan to buy back $3 billion of its stock in the first three months of next year. Buybacks are popular with stockholders because they increase a company's earnings per share for the stock still held by the public. Companies also use them to compensate for shares of stock that they award to employees. JPMorgan was among the best-performing bank stocks Thursday, rising 0. 8 percent in midday trading.

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JPMorgan Chase Stock market Stock Federal Reserve System Bear Stearns U.S. Securities and Exchange Commission Office of Thrift Supervision Monetary policy

JPMorgan shares rise after Fed OKs restart of buybacks

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Company: JPMorgan Chase

Overall Sentiment: 0.186699

Relevance: 0.96184

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• JPMorgan Chase
• JPMorgan Chase: dbpedia
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• JPMorgan Chase: umbel
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Plan calls for JPMorgan to buy back $3 billion of its shares in the first three months of next year

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JPMorgan shares rise after Fed OKs restart of buybacks

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