AIG and C Stock Quote Rebound: Market Quotes

by peder.sande | August 7, 2009 at 08:47 am

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In Q2, AIG can quote a $1.82 B net income. The results are the first profit reported for the company since 2007. AIG's stock price rallied up 7.8 % due to the Q2 financial report in addition to the positive market indicators on the economy: The monthly unemployment index lowered for the first time this year, providing further evidence that a recovery is underway. The news seem to be clearing uncertainty for investors, which are fueling the largest rally for markets since the depression.

reported its first profit in seven quarters on narrowing investment losses and a rebound in the value of some derivatives.

In related news, Citi groups stock (C quote), another corporation under the trouble asset relief program (TARP), climbed as news of markets were released, up 6.15%.

CIT Group was one of the highest performers, up 16.5%, due to an important restructuring effort. CIT group has issued a press release telling investors they have received enough offers to complete a debt repurchase.