Volume Spike Investor

UBS (NYSE: UBS) shares are down about 3% near $12.50 in active premarket trading around 8:25 a.m. Eastern, after the company warned of a second-quarter loss and sold about US$3.5 billion of shares at a 7% discount to the stock’s closing price on Thursday. The cash raising is expected to help raise the bank’s tier 1 capital ratio to 11.9 percent, near the 12 percent minimum required by regulators. — Mike Tarsala