Merrill downgrades JPMorgan (JPM -6%) to Underperform. "While there is little doubt that...

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

Merrill downgrades JPMorgan (JPM -6%) to Underperform. "While there is little doubt that JPMorgan will emerge from the current crisis in a good competitive position, it is increasingly clear that credit costs in the U.S. will get much worse, particularly in cards and commercial lending."