SuperValu is really tanking. The announcement that they were going to put a lot into SAL has scared everyone. The group of 3 at SAL like I said before are the Wizard of Oz Team (no heart, no brains and no courage) Craig better make a move there and one better than making Steve Harris retire. The big gulper and mr. good to great scare the hell out of the investment and licensee community.
The losers included: SuperValu (SVU) which slumped 4.1% to $13.83 after being cut to “underweight” from “equalweight” at Morgan Stanley, and American International Group (AIG) which dropped 14.7% to $28.40 after Sanford C. Bernstein & Co. cut its share-price target on the stock by 40% to $12 and estimated the bailed out U.S. insurer has an $11B deficiency in insurance reserves…CURRENCY: The dollar closed 0.27% lower on the yen at 86.33 and 0.01% lower on the euro at 0.6664…COMMODITIES: Crude oil closed up 1.23 to 77.28...Natural gas lost 0.34 to 4.85...Gold was higher by 7.50 to 1,183.00…ECONOMIC