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Trading at Noon: Wall St. led lower as banks extend losses

Monday, January 30, 2012 - 03:02

Jan. 30 - U.S. stocks extended losses, with all three major indexes falling more than 1 percent, as concerns grew about the state of Europe's finances.

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Checking in on treating it and we've got red arrows across the board for stocks that we are on the close of the morning investors not -- not care this below us today. Financials are leading the decline on the ESP 500 we've got financials off just about one and a half percent. Concerns over -- plus some downgrade in the space -- -- -- -- that trading scandal UBS back in September you know the one constant Swiss bank U point three million dollars. Well the man allegedly responsible for the unauthorized trades -- Not guilty in London today former UBS trader may go out of Ali will now stand trial on September nearly a year after his arrest. If convicted he faces a maximum ten year jail sentence. The alleged rogue trades led to the resignation of UBS is former chief executive and shake up its investment arm. How many investors -- friend FaceBook. No more -- the Wall Street Journal says we could finally get our hands on the IPO offering I midweek. This street seems to think it's Morgan Stanley -- to lose but what are they getting aside from bragging rights and not much. They may score just 1% of gross proceeds -- for their underwriting services. That's a lot less than 7% -- -- yelled -- commander even that cute it 3% other large deals. That's said many don't think there's that much heavy lifting needed to sell the company's shares. And he and a 1% he hits and a leading by three and number one spot on the I he'll leaked cables. Bank of America -- use of FaceBook this even if it's just from around. More management changes for its investment banking arm -- challenging year. Christian -- named the new head of global corporate investment banking putting a relative newcomer in charge of capital markets. He came over from Jim Moret April and before that was at Lehman Brothers. That's probably not the last of the changes of DNA unit has been slashing staff and more pats are expected. Snapper some stocks to watch shares of Pep Boys again next spring in your step today. They're more than 20%. After -- car service chain agreed to be bought. -- private equity firm gores group 791. Million dollar deal. And shares of Pharmerica -- that downside I'm more than 12%. The pharmacy services provider hopes on the -- and it's 441. Million dollar hostile bid for the company. After the FCC move on Friday to block the deal. Authorities administration helped restructure troubled carmaker Chrysler it appears President Obama was -- customer. It's very on 2005 Chrysler 300 C is on eBay right now -- can be yours for the full price. Of one million dollars Kelley blue book -- at retail value of around 181000 dollars. Alleged they one million dollar price tag is a tad expensive best seller points out. Then in 1977. Peugeot sedan belonging to Iran's president Ahmadinejad. Went at a charity auction for two point. Five. Dollars. Hats off for treating it in action not yours and this is partners.

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Trading at Noon: Wall St. led lower as banks extend losses

Monday, January 30, 2012 - 03:02