WaMu (WM) Under Pressure To Find a Suitor

Washington Mutual (NYSE: WM) is 11% higher this morning on continued speculation about a sale of the company.

The Wall Street Journal is reporting the company has contacted several private equity investors about a deal, including Carlyle Group and Blackstone Group LP.

The New York Times reported that federal regulators are moving quickly to broker a deal to get the embattled savings-and-loan sold.

Recently, Standard and Poor's cut the credit ratings on WaMu deeper into junk status, saying a sale of the company may come in pieces instead of a whole, meanwhile financial conditions could deteriorate further. WaMu responded to the downgrade saying it remains "well capitalized."

Shares of WaMu fell nearly 30% yesterday.

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