American International Group (AIG) NewsBite - AIG Rises Despite Airplane Finance Troubles
Posted: Tuesday, September 15, 2009 9:50 AM EDT
By: Market Intelligence Center Staff
American International Group (NYSE: AIG) opened at $42.22. So far today, the stock has hit a low of $42.18 and a high of $43.05. AIG is now trading at $42.75, up $1.64 (3.99%). Over the last 52 weeks the stock has ranged from a low of $6.60 to a high of $159.80. AIG shares are rising this morning despite reports from the Wall Street Journal that the company's airplane-finance company, International Lease Finance Corp., could have trouble meeting upcoming debt obligations. According to the paper, the company is facing a liquidity shortfall of around $5 to $6 billion. Technical indicators for the stock are bearish and S&P gives AIG a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on AIG the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]
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