December 28, 2001 |
UBS PaineWebber is dropping a new policy that called for fining brokers who buy shares of new stocks and quickly sell them. Instead, the nation's fourth-largest brokerage firm will reward brokers with records for selling shares of initial public stock offerings--or IPOs--to longer-term investors, according to a company source who spoke on condition of anonymity. The reward will consist of rights to greater number of those shares, the source said Thursday.
December 18, 2002 |
Federal prosecutors Tuesday charged a disgruntled former employee of UBS PaineWebber with fraud and accused him of trying to sabotage the brokerage's computer network with an electronic "logic bomb." The Justice Department's New Jersey district accused Roger Duronio, 60, of planting the logic bomb in about 1,000 of PaineWebber's 1,500 networked computers. So-called logic bombs are pieces of software code buried within another program that are designed to disrupt computer systems.
July 24, 2001 |
A year and a half of market malaise is beginning to wear investors down. Investor optimism sank to its lowest level in almost five years this month as the nation's sluggish economy and shrinking corporate profits rattled the stock market, according to a poll by brokerage UBS PaineWebber Inc. and research firm Gallup Organization. Only 40% of Americans expressed optimism over the stock market in the monthly Index of Investor Optimism poll, down from 45% last month.
April 24, 2001 |
Investor confidence in the stock market and the economy dropped in early April to a three-year low, a survey showed. And people's return expectations also are sliding. UBS PaineWebber's investor confidence index fell 21 points to 116 in the firm's monthly survey, completed April 15, the brokerage said. Investors on average are expecting their return on investments over the next 12 months to be 8.7%, the lowest in the survey since June 1998, when the data started to be reported, and down from 10.
August 28, 2001 |
Individual investors' expectations of stock market returns during the next 12 months have fallen back into the single-digit range, according to UBS PaineWebber Inc.'s latest monthly survey of investor optimism. The firm's August poll, released Monday, showed that investors on average expected a return of 9.4% from stocks over the next year. It was only the second time in the survey's relatively short history that the expected rate of return was below 10%. The lowest figure was 8.
May 1, 2003 |
Biovail Corp., Canada's biggest publicly traded drug maker, defamed analyst Jerry Treppel after he urged investors to sell the stock, the former Banc of America Securities analyst said in a $100-million lawsuit filed Wednesday in New York. Treppel contends that Biovail falsely accused him of criminal conduct after he issued critical research reports. A year ago, Biovail shares fell 21% when Treppel cut his rating to "sell" from "market perform."