Rochester,NY 7/10/2009 12:36:11 AM
Afternoon Stock Report - AIG - Stocks Struggle as Alcoa, Pharmas Drag - Sourced WhisperFromWallStreet.com
American International Group, Inc.
Afternoon Stock Report - AIG - Stocks Struggle as Alcoa, Pharmas Drag - Sourced WhisperFromWallStreet.com
American International Group, Inc. AIG
Initial jobless claims plunged by 52,000 last week to a much lower-than-expected 565,000. It was the lowest reading since January, and psychologically important because claims have finally dropped below 600,000.
Futures initially spiked on the number but pulled back to where they were before the report as investors dug into the report, learning that the headline number dropped mostly because of fewer-than-expected auto layoffs and continuing claims surged to another record — 6.883 million — tempering enthusiasm for the headline number.
Wholesale inventories shrunk by 0.8 percent in May, better than expected and the 1.3-percent decline in April.
Last Trade: 10.74
Day's Range: 10.11 - 12.40
52wk Range: 6.60 - 621.80
Volume: 37,696,696
ABOUT - American International Group, Inc.
American International Group, Inc., through its subsidiaries, provides insurance and financial services in the United States and internationally. It operates in four segments: General Insurance, Life Insurance and Retirement Services, Financial Services, and Asset Management. The General Insurance segment underwrites various business insurance products, including large commercial or industrial property insurance, excess liability, inland marine, environmental, workers' compensation, and excess and umbrella coverages. It also offers various specialized forms of insurance, such as aviation, accident and health, equipment breakdown, directors and officers liability, difference-in-conditions, kidnap-ransom, export credit and political risk, and professional errors and omissions coverages.
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