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WaMu shares jump on Goldman, Buffett speculation
NEW YORK (Reuters) - Shares in Washington Mutual (WM.N), the largest U.S. savings and loan, rose more than 12 percent on Tuesday amid speculation of a possible capital infusion by Goldman Sachs (GS.N) or Warren Buffett.
Goldman Sachs declined to comment. Buffett's Berkshire Hathaway was not immediately available for comment.
"Washington Mutual shares are up on unconfirmed chatter of capital infusion by Goldman Sachs and Warren Buffett," said Paul Foster, options strategist at Web information site theflyonthewall.com in Chicago.
Last week, Washington Mutual shares fell after a report in The Wall Street Journal said WaMu, which has been battered by mortgage losses, has approached private equity firms and sovereign wealth funds about possible cash infusions.
"The rumor concerning Washington Mutual involves a possible cash infusion, either from Goldman Sachs or from Warren Buffett," said Rebecca Engmann Darst, equity options analyst at Interactive Brokers Group, on Tuesday.
WaMu shares were trading up more than 12 percent at $11.28.
