Bailout Stocks Rallied On Tuesday (AIG, FRE, FNM, Citigroup)
Bailout Stocks Rallied On Tuesday
(EMAILWIRE.COM, March 09, 2010 ) Dallas, Tx - All the top four bailout financial companies turned sharply higher in afternoon session on Tuesday amid speculation among the inventors.
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American International Group, Inc. (NYSE:AIG) was the biggest gainer and jumped 12.61% to close at $32.77 on speculation that the bailed out insurer will sell more assets after raising $51 billion through deals.
Citigroup Inc. (NYSE:C), which has repaid some of assistance it received, rose 7.30% to end the day at $3.82 on very heavy volume after as Charles Gasparino of Fox Business said the U.S. may sell its stake in the bank within three months, without saying where he got the information.
On the other hand, other two government supported companies Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM) surged 7.56% and 6% respectively on heavy volume.
The government saved AIG, Citigroup, Fannie Mae and Freddie Mac after Lehman Brothers Holdings Inc.’s collapse intensified the credit crisis in September 2008. AIG has agreed to sell two divisions this year as it seeks to repay the U.S. Citigroup has repaid some of assistance it received, and the government plans to sell its remaining stake in the next year. President Barack Obama has said his administration is still trying to sort out what to do with Fannie Mae and Freddie Mac.
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American International Group, Inc. (NYSE:AIG) was the biggest gainer and jumped 12.61% to close at $32.77 on speculation that the bailed out insurer will sell more assets after raising $51 billion through deals.
Citigroup Inc. (NYSE:C), which has repaid some of assistance it received, rose 7.30% to end the day at $3.82 on very heavy volume after as Charles Gasparino of Fox Business said the U.S. may sell its stake in the bank within three months, without saying where he got the information.
On the other hand, other two government supported companies Freddie Mac (NYSE:FRE) and Fannie Mae (NYSE:FNM) surged 7.56% and 6% respectively on heavy volume.
The government saved AIG, Citigroup, Fannie Mae and Freddie Mac after Lehman Brothers Holdings Inc.’s collapse intensified the credit crisis in September 2008. AIG has agreed to sell two divisions this year as it seeks to repay the U.S. Citigroup has repaid some of assistance it received, and the government plans to sell its remaining stake in the next year. President Barack Obama has said his administration is still trying to sort out what to do with Fannie Mae and Freddie Mac.
ABOUT http://www.wepickpennystocks.com
wepickpennystocks provide online Stock Newsletter on various stocks of the day. To make the right investment in the stock business you need up to date information of daily stocks. We provide alerts on penny stocks, financial stocks, technical stocks, most active stocks and much more. Our hot stock alerts will help you gain insight into the stock trading so that you can make maximum profit.
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Wepickpennystocks
Robert
Tel: 214-556-6798
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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