American International Group (AIG) NewsBite - AIG Is On The Move In Early Trading
Posted: Tuesday, November 17, 2009 10:04 AM EDT
By: Market Intelligence Center Staff
American International Group (NYSE: AIG) opened at $35.84. So far today, the stock has hit a low of $35.48 and a high of $36.43. AIG is now trading at $36.06, up $.31 (0.87%). Over the last 52 weeks the stock has ranged from a low of $6.60 to a high of $55.90. AIG shares are rising this morning despite a pair of downbeat economic reports, suggesting investors are bullish on the stock despite economic challenges ahead. The Labor Department's Produce Price Index rose 0.3 percent in October, missing forecasts of a 0.5 percent gain. Industrial production rose 0.1 percent last month, less than the 0.4 percent predicted by economists. Technical indicators for the stock are neutral and S&P gives AIG a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on AIG the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]
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