US stock rise on JPMorgan offer

March 24 - U.S. stocks went up after JPMorgan Chase & Co. increased its bid for Bear Stearns Cos., and sales of existing homes unexpectedly rose. JPMorgan quadrupled its offer for Bear to $10 a share. Bear Stearns climbed $6.75, or 113 percent, to $12.71. JPMorgan will exchange stock worth about $10 for each Bear Stearns share, the New York-based firms said in a statement. Sales of existing homes in the U.S. unexpectedly rose in February for the first time in seven months.