AIG sell on news?
Makes no sense: Earnings up, revenue up, dividend up, stock buyback -- All Positive.
No mention of future problems in conference call, as far as I can tell. Please advise.
Why the sell-off?
Will be interesting to see how the day ends, and price action next week.
AIG should be rising towards $60 rather than siumpimg -- go figure.
Catastrophe adjusted combined ratios moved in the wrong direction. My take is that there were some up front costs to implement new management systems, culminating in this 3% layoff. Today's selling only makes sense for traders and other fast money types. Longer term AIG seems to be on track. Let 'em sell.