Firm with Jersey City ties among winners on Wall Street

by The Jersey Journal
Tuesday March 18, 2008, 9:37 AM

As Wall Street braces for another day of uncertainty, JP Morgan Chase, the banking giant with a significant presence on the Jersey City waterfront, is one of the key stocks to watch.

The company bought the embattled Bear Stearns over the weekend for a bargain $2 a share and is among the better positioned financial firms right now.

The company said today it will not move its headquarters to the Deutsche Bank building site at the World Trade Center.

There has been no word on whether the company plans to beef up its presence in Jersey City or precisely how it will integrate Bear employees.