Wall Street traded lower in midday trading Monday as the drama in Greece continues. Negotiations between Greece’s new Prime Minister and European leaders are not moving forward as the debt-strapped country rolls back austerity measures. Airlines are tanking in the session on a drop in monthly traffic. American (AAL), Delta (DAL) and Southwest (LUV) reported declines in January for a key passenger occupancy data. A downgrade is putting pressure on shares of Alcoa (AA). The stock was revised lower at JPMorgan to a NEUTRAL from OVERWEIGHT rating. Shares of Qualcomm (QCOM) are up on reports the company is close to reaching a settlement with the Chinese government on an anti-competitive investigation. Reuters is reporting Qualcomm will pay a fine of nearly $1 billion.
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