JP Morgan raises net interest income guidance to $84 billion to reflect $3 billion bump from takeover of First Republic Bank

JP Morgan Chase & Co.
JPM,
-0.09%
raised its net interest income guidance on Monday by $3 billion to reflect the bump it will get from its takeover of First Republic Bank. The bank is now expecting its 2023 net interest income to come to $84 billion, up from $81 billion forecast in April. It offered the guidance at an investor day. The stock was slightly higher premarket and has gained 3.8% in the year to date, while the S&P 500
SPX,
+0.12%
has gained 9%.