TRW Shares, Debt Get Boost From JPMorgan

When TRW Automotive(TRW Quote) announced Friday morning that it had renegotiated the covenants on $2.5 billion worth of debt, investors responded tepidly.

But when a JPMorgan(JPM Quote) analyst upgraded TRW shares Monday morning, citing those very renegotiated covenants, market participants -- and the banks' own equities sales force -- evidently took notice.

In morning trading Monday, TRW shares jumped 16%, or 44 cents, to $10.44. More than 600,000 shares had changed hands in the first 45 minutes of the session; average daily volume is 1.2 million shares. ...