Shares of Barclays (BCS: sentiment, chart, options) dropped 2.42% today, holding up pretty well amid the near 5% decline for the S&P 500 Index (SPX). The shares were lauded early in the session following the announcement that BCS was bargain-hunting with Lehman Brothers' (LEH: sentiment, chart, options) investment-banking and capital-markets business. The London-based banking concern agreed to buy LEH's U.S. operations for about $1.75 billion, and is reportedly eyeing the company's operations in the U.K.

However, the stock could come under fire in Thursday's trading, as Fitch Ratings revised its outlook on Barclays Capital's AA long-term issuer default rating to "negative" from "stable." According to the ratings firm, "Strategically, Fitch understands Barclays Capital's motivation to seize the opportunity created by problems at other investment banks and to look to expand its product and geographical franchise. However, the Negative Outlook reflects Fitch's opinion that the expansion of the group's investment banking operations via the Lehman acquisition may increase the earnings volatility and overall risk profile of the enlarged group."