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Trading at Noon: JPMorgan drags Dow lower again

Monday, May 14, 2012 - 02:59

May 14 - U.S. stocks are down as JPMorgan announces CIO Ina Drew is leaving the company after it suffered a $2 billion trading loss.

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Need. Need. Executive changes underway JPMorgan Chase bank's chief investment officer kind of drew will retire your magazine irresponsible for at least two billion dollars in trading losses this quarter. It also buoyant ahead at its treasury and securities division is the leader of the team executives. Overseeing the group's response that recent losses. Chief investment officer mismanaged your portfolio derivatives tied to their credit worthiness on what did he -- The stock down another 2% today. Well -- truly JPM dragging down financial they are off more than 1% energy and Israel sectors fairing poorly as well. Stocks overall firmly in the red they have cut some of their losses here Dow NASDAQ S&P 500 -- just a half percent. The political impact in Greece contributing to the declined. The Euro slipped into -- four month -- now trading near 28 treasurys rising to the yield on the ten year note well below one point 8%. Pressure building on Chesapeake CEO Aubrey McClendon. A small outline in head on not -- capital calling for his ouster activist investor Carl Icahn has reportedly been building its position in the stock. Clinton sticking Chesapeake financial situation on call today. -- analysts and investors it will complete asset sales to close an estimated ten billion dollar funding gap he did not confirm -- report about icon in the Wall Street Journal. -- -- guessing caught in a corporate governance controversy following several Reuters reports. About Clinton's roll up our shares of Chesapeake we've -- -- to. More fall out at best buy founder and chairman Richard hills is stepping down Allen and its failure to tell the board. That former CEO Brian Dunn had violated company policy by having an extremely close personal relationship. -- -- -- -- He hasn't done exit package also revealed Everett left previously earned bonus and unused vacation. Pushing the value of separation agreement up to about six point. Six dollars chairs right now aren't -- up. Just about one point -- We're back -- today let's start with warriors and. Here's a Yahoo! are rising today after Scott Thompson company CEO. Stepped down following -- controversy over his academic record shares or about 2.5 percent number among the top percentage gainers in the S&P 500. After the Internet companies said that brought flood zone that company's global media head would take over as interim CEO. I'll see boundary about it surge in about 10%. Daily deal but reports quarterly results after the close. Stock has been hammered over accounting practices and recently -- financial experts to its board of directors. I'm Jen Rogers this is Reuters.