Do you have any interest in insurance companies amidst the turmoil, disaster and current crises in Japan? A crises that followed so closely on the heals of the destruction of the New Zealand city of ChristChurch by a 6.3 magnitude earthquake. Perhaps you think this is even a poorer idea than catching that proverbial falling knife we are always hearing about when stock prices are collapsing.

Certainly there will be billions of dollars in claims. On the other hand, perhaps the burden will be spread around the globe to reinsurer's such that none is struck too hard and this is a buying opportunity. After all, when the dust settles, insurers will cry for mercy, and in particular, rate increases. It is also likely those that never saw the need for insurance have been awakened and demand will increase.

American International Group (AIG - option chain) stock is trading lower today after the company reported fiscal-Q3 earnings this morning, posting a loss of $2.4 billion, or $17.62 per share, hurt in part by a $1.84 billion loss ($13.65 per share) from discontinued operations, a $1.3 billion deferred tax asset valuation allowance charge, a $1.3 billion goodwill impairment charge on pending sale of AIG Star and AIG Edison. Excluding one-time items, AIG lost $1.47 per share on revenue of $19.09 billion.

Most analysts declined to forecast quarterly results for AIG, due in no small part to its ongoing divestment of some assets to pay off its government bailout. The reason AIG isn't down more on this news is that these kinds of results are expected right now from the insurance behemoth. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on AIG.

American International Group (AIG) officials are in talks with the U.S. Treasury Department on ways for AIG to regain its independence, according to The Wall Street Journal.

Of all the government bailouts, AIG was the worse one. In the heyday of the housing bubble, AIG insured billions in shaky loans, loans that blew up when the housing bubble burst. As a consequence, the government has shifted $182.3 billion of taxpayer money into AIG to keep it afloat. Now, two years later, the government is looking for ways to get its money back.

Although the name American International Group (AIG) is considered a four-letter word by many Americans who are disgusted with the $182.3 billion bailout the company received from the U.S. government, traders on Wall Street seem to be warming up to the idea of buying this pariah's stock once again.

The question is...should you be buying this stock too? I say yes. After all, isn't it about time you benefited from this bailout?

Let's take a look at a few fundamental factors that look promising for the company and what we can learn from the stock chart itself.

Analyst upgrades

• Wells Fargo upgraded Boeing (BA) to outperform from market perform. The firm is more confident about the company's earnings growth going forward.
• Oppenheimer upgraded H&R Block (HRB) to outperform from perform on expectations the company will improve performance in 2011. The firm has a $22 price target for shares.
• Deutsche Bank upgraded SunTrust (STI) to buy from hold to reflect valuation and expectations the company's credit will improve. The firm raised its target for shares to $34 from $29.
• Children's Place (PLCE) was upgraded to overweight from neutral at JPMorgan.
• Taubman Centers (TCO) was upgraded to neutral from sell at UBS.
• Cavium Networks (CAVM) was upgraded to outperform from neutral at Cowen.