J.P. Morgan profit, stock rise; housing to stay weak (Market Watch)

Story date: 2007-10-17 06:26:09
Added on: 2007-10-17 21:00:26

NEW YORK (MarketWatch) -- J.P. Morgan Chase said third-quarter net income rose 2% despite more than $1.5 billion of write-downs and losses due to risky corporate lending and falling mortgage values. By contrast, rival Citigroup on Monday said that its profit for the same period fell 57% after accounting for previously announced write-downs for bad loans and other credit issues. J.P. Morgan's ...


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