Shares of UBS (UBS) are -6.4% premarket after UBS said it doesn't expect client inflows to...

|About: UBS Group AG (UBS)|By:, SA News Editor

Shares of UBS (UBS) are -6.4% premarket after UBS said it doesn't expect client inflows to recover anytime soon due to its mangled reputation as a result of its tax dispute with the IRS. UBS posted a fourth straight quarterly loss of 564M francs (-$552M), worse than the 207M loss expected by the Street. Total client outflows rose to 36.6B francs ($35.8B), led by a doubling of outflows at its Americas wealth-management division. (PR)