AIG Plays Take-Back After Yesterday (AIG)

Posted in pre-market 
December 1st, 2009

American International Group, Inc. (NYSE: AIG) is recovering handily after yesterday’s analyst $12 call.  The company is moving forward with its ALICO separation.  It has also entered into a debt-for-equity swap with the New York Fed which may have just taken off $25 billion in debt and takes the NY Fed’s debt down to $17 billion.  At 8:29 AM EST we have seen only about 350,000 shares trade hands and the stock is up 6.4% at $30.20.  That also gets it well above the 200-day moving average (listed as $28.98) which was violated yesterday.  It looks like Benmosche is getting things done.

JON OGG

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