Wednesday, April 7, 2010 as of 11:14 AM ET
UBS AG (, ) is a Swiss global financial services company headquartered in Basel and Zürich, Switzerland.
Read More at Wikipedia ›Friday's weak jobs report sent financial stocks tumbling in early trading, pushing the broader market lower and diminishing hopes that the rally in the sector earlier this year could be restarted after a dismal May.
The subindex of financial stocks within the Standard & Poor's 1500 fell 2.71% while the KBW Bank Index of 24 large bank stocks fell 3.83% to a five-month low. The S&P 500 index was down 1.87%.Bank of America Corp. shares fell 3.97%, to $7.06, while Morgan Stanley fell 3.14%, to $12.94. Goldman Sachs Group Inc. fell 2.59% to $93.29, and J.P. Morgan Chase & Co. fell 3.08%, to $32.12. Citigroup Inc. shares fell 3.25%, to $25.64.With an intraday low of $12.80, Morgan Stanley hit a low last seen about eight months ago. J.P. Morgan's early Friday skid to $32.05 was last hit late last December and Goldman's $92.35 was a nearly six-month low.Regional banks also took the brunt of the selloff. Shares of Huntington Bancshares Inc. in Columbus, Ohio, fell 6.19%, to $6.13; shares of Come...Claims by four of Wall Street's main market makers against Nasdaq over Facebook's botched IPO are likely to exceed $100 million, as they and other traders continue t...
FBN's Sandra Smith breaks down business headlines.
A blockbuster initial public offering by one of China's biggest financial firms that should have been welcomed by Western banks grappling with a listing drought in H...
State-owned People's Insurance Co. (Group) of China Ltd. has asked banks that are pitching to underwrite its US$6 billion initial public offering to guarantee that t...
UBS Senior Equity Strategist David Lefkowitz on why investors should focus on dividend growth when picking dividend-paying stocks.
As jitters about Greece leaving the eurozone reach a boiling point, one of the key lessons of the Lehman Brothers collapse should loom large over the heads of policy...
BlackRock Inc. (BLK) and two other investors bought about a 20% stake in motor-racing franchise Formula One Group for $1.6 billion ahead of its planned $2.5 billion ...
Analysts at UBS said late Monday that J.P. Morgan Chase & Co. shares are very attractive at current levels despite negative headlines about the bank's recent derivat...
BlackRock Inc. (BLK) and two other investors bought about a 20% stake in Formula One Group for $1.6 billion ahead of its planned $2.5 billion initial public offering...
Loan loss provisions for Swiss companies have come down despite the strong Swiss franc, providing evidence that the countries' companies have coped well so far with ...
Asset manager clients of UBS AG (UBS) last week sold euros at the fastest pace since November 2011, the bank said Monday, illustrating a "torrid" week for the single...
Chinese Internet entrepreneur Jack Ma is buying back up to half of a 40 percent stake in his Alibaba Group from Yahoo Inc for $7.1 billion, in a deal that moves the ...
Switzerland's parliament Thursday cleared the way for a national referendum on an initiative to give shareholders greater control over executive pay packages and a c...
German lender Deutsche Bank (DB) has priced its EUR500 million, 10-year covered bond at 12 basis points over midswaps, one of the banks running the deal said Thursda...
German lender Deutsche Bank (DB) is planning a EUR500 million, 10-year covered bond, one of the banks running the deal said Wednesday.Initial price thoughts are in t...
UBS AG (UBS) said Wednesday it received regulatory approval to convert its Beijing branch into a locally incorporated wholly foreign-owned bank.The new entity will b...
Australian lender Suncorp Group Ltd. (SUN.AU) launched a A$750 million offer of 4.5-year covered bonds.Price guidance on the offer is around 140 basis points over sw...
Price discussion on an inaugural covered bond issue planned by Australian regional lender Suncorp Group Ltd. (SUN.AU) is around 140 basis points over swap, said a pe...
Individual investors' love affair with junk bonds appears to be on the rocks. High-yield bond funds saw their fourth-largest redemptions on record in the latest week...
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