Bear Stearns is going to be bought out by JP Morgan. What does this news going to impact tomorrow morning (if it happens)? I thought this will probably lift up its stock but people are saying , there will be blood pouring on the Street tomorrow. I didn't quite understand why?

I was thinking to buy some Goldman Sacs before its earning call. I assume they will probably beat the street's expectation and Fed's rate cut will probably lift up this stock.