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AIG to Hit Feds for Another $2 Billion

Tom Johansmeyer — Wed, 17 Mar 2010 10:20:00 EST

Filed under: Amer Intl Group (AIG), Federal Reserve

American International Group (AIG) has gone back to the feds. The insurer pulled another $2.2 billion from its Treasury Department facility to support the property-casualty business units that will comprise the restructured company. AIG used the cash from Treasury to redeem some securities held by its insurance subsidiaries to increase liquidity and address rating agency considerations.

According to David Havens, managing director of credit trading at Nomura Securities (NMR), "AIG still needs to be cognizant of where the rating agencies stand on their solvency." He adds, in Bloomberg News, that the funds may have been sought after the company got "feedback from the rating agencies that the regulatory capital within the operating companies doesn't muster up."

Continue reading AIG to Hit Feds for Another $2 Billion

AIG to Hit Feds for Another $2 Billion originally appeared on BloggingStocks on Wed, 17 Mar 2010 10:20:00 EST. Please see our terms for use of feeds.

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Stocks in the news: DD, VZ, YHOO, AXP, TXN, IBM, SI, VMW, EMC, AMGN ...

Melly Alazraki — Tue, 27 Jan 2009 08:31:00 EST

Filed under: Earnings Reports, Yahoo! (YHOO), Apple Inc (AAPL), International Business Machines (IBM), Netflix, Inc. (NFLX), Citigroup Inc. (C), American Express (AXP), Bristol-Myers Squibb (BMY), Corning Inc (GLW), Verizon Communications (VZ), duPont(E.I.)deNemours (DD), Amgen Inc (AMGN), Texas Instruments (TXN), EMC Corp (EMC), Delta Air Lines (DAL)

DuPont (NYSE: DD) reported Tuesday morning, saying it swung to a fourth-quarter loss. DuPont reported a loss of $629 million, or 70 cents per share, but excluding a restructuring charge the loss is 28 cents per share. Revenue fell 16% to $6.07 billion. Results were below analyst estimates of a loss of 24 cents per share on revenue of $6.17 billion.

Verizon Communications (NYSE: VZ) also reported Tuesday morning, saying it earned $1.24 billion, or 43 cents a share, in the fourth quarter. On an adjusted basis, Verizon earned 61 cents a share compared to 62 cents a share a year ago. Sales were $24.6 billion. Verizon missed estimates only slightly and shares gained 1.6% in premarket trading.

Yahoo (NASDAQ: YHOO) is reporting after the close today and analysts expect earnings of 13 cents a share for the period, on $1.4 billion in net revenue, according to FactSet Research. Shares indicated higher in premarket trading.

Continue reading Stocks in the news: DD, VZ, YHOO, AXP, TXN, IBM, SI, VMW, EMC, AMGN ...

Stocks in the news: DD, VZ, YHOO, AXP, TXN, IBM, SI, VMW, EMC, AMGN ... originally appeared on BloggingStocks on Tue, 27 Jan 2009 08:31:00 EST. Please see our terms for use of feeds.

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Stocks in the news: GM, F, JPM, KBH, TM, FNM, MO, HUN, AAPL, HON ... (update)

Melly Alazraki — Mon, 15 Dec 2008 08:15:00 EST

Filed under: Earnings Reports, Analyst Upgrades and Downgrades, Apple Inc (AAPL), Ford Motor (F), General Motors (GM), Toyota Motor Corp. (TM), JPMorgan Chase (JPM), Altria Group (MO), Best Buy (BBY), Centex Corp (CTX), Kroger Co (KR), Federal Natl Mtge (FNM), D.R.Horton (DHI), Goldman Sachs Group (GS), Morgan Stanley (MS), KB HOME (KBH), Lennar Corp'A' (LEN), Alcatel-LucentADS (ALU), Honeywell Intl (HON)

General Motors Corp. (NYSE: GM) and Ford Motor Co. (NYSE: F) may get help from the Bush administration. President Bush said in an interview today that "an abrupt bankruptcy for the autos could be devastating for the economy." He signaled he may use TARP funds for that, but didn't provide a timeline or other details. GM shares are up 4.8% in premarket, Ford's shares are up 2%. Shares of both opened about 3% higher.

Goldman Sachs Group Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS) probably will report fourth-quarter losses this week on shrinking asset values and a decline in fees for businesses. But even the deep cost cutting measures the investment firms -- now turned banks -- may not help help shareholders enough as the companies face another year of slumping revenue. The demand for their services is and will continue to be limited in what is the worst financial crisis since the Great Depression. GS shares are down 2% in premarket trade.

Banco Santander (NYSE: STD), Nomura (NYSE: NMR) and Royal Bank of Scotland (NYSE: RBS) are among the victims ex-Nasdaq Chairman Bernard Madoff' $50 billion Ponzi scheme. Santander said its customers had an exposure of around $3.1 billion, while Japan's Nomura has an exposure of around $302 million. STD shares are down 1.5% and RBS shares up 1.7% in premarket trade.

[Update 10:00 am:
Huntsman Corp. (NYSE: HUN) shares were down about 35% a little after the open after it has ended its $6.5 billion agreement to be taken over by Hexion Specialty Chemicals Inc. and agreed to a $1 billion legal settlement.
Apple Inc. (NASDAQ: AAPL) shares were down about 4% a little after the open on a downgrade. Goldman Sachs downgraded the iPhone and Mac maker to Neutral from Buy due to deteriorating consumer spending.
JPMorgan (NYSE: JPM) shares slumped nearly 6% after a Merrill Lynch analyst downgraded JPM to Underperform from Neutral.
Honeywell (NYSE: HON) shares gained nearly 7.5% after the manufacturer affirmed a lower 2009 outlook and said it expects profits to fall 6% to 16% as the deepening global recession hits markets it serves.]

Continue reading Stocks in the news: GM, F, JPM, KBH, TM, FNM, MO, HUN, AAPL, HON ... (update)

Stocks in the news: GM, F, JPM, KBH, TM, FNM, MO, HUN, AAPL, HON ... (update) originally appeared on BloggingStocks on Mon, 15 Dec 2008 08:15:00 EST. Please see our terms for use of feeds.

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Newspaper wrap-up: Icahn looking at Motorola

Eric Buscemi — Mon, 15 Oct 2007 09:15:00 EST

Filed under: Newspapers, Magazines, Google (GOOG), Cisco Systems (CSCO), Motorola (MOT), Sony Corp ADR (SNE)

MAJOR PAPERS:

In an interview with the Financial Times (subscription required), Carl Icahn said of Motorola (NYSE: MOT): "There is value there, and if that value doesn't manifest itself, I as an activist, would think very seriously about coming back."

OTHER PAPERS:

Universal Music is in talks with Sony Corporation's (NYSE: SNE) Sony BMG and Warner Music Group (NYSE: WMG) over launching a music subscription service to be called Total Music, which would be free on certain devices, reported the Telegraph.
While Emerging Memory Technologies CEO Sreedhar Natarajan would not confirm the deal, stating "I'm under a non-disclosure agreement," it is clear that EMT has been acquired by Taiwan Semiconductor Manufacturing Company (NYSE: TSM), the Ottawa Citizen reported.
Lehman Brothers analyst Douglas Anmuth believes Google (NASDAQ: GOOG) will launch a mobile phone similar to that of Apple's (NASDAQ: AAPL) iPhone in February, reported the Independent.
The Associated Press reported that Nomura Holdings (NYSE: NMR) announced that it will close its mortgage-backed securities business in the U.S., and expects a group pretax loss of between $240M and $510M for the quarter ended in September.

WEBSITES:

According to Unstrung.com's sources in the finance community, Cisco Systems (NASDAQ: CSCO) is expected to enter the WiMax arena before the end of the month, and Navini Networks is Cisco's preferred target.

Newspaper wrap-up: Icahn looking at Motorola originally appeared on BloggingStocks on Mon, 15 Oct 2007 09:15:00 EST. Please see our terms for use of feeds.

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