Pre-Market Update May 9,2008

Posted: May 9, 2008 at 9:22 am by Lisa

MAR US TRADE BALANCE: -$58.2 V -$61.0BE
- Prior revised from -$62.3B to -$61.7
- Imports declining 2.9% M/M, the most since Dec 2001, to $206.7B
- Exports fell 1.7% M/M to $148.5B

So far, in AIG’s Conference Call, the CEO says they raised the dividend as an expression of their view of long term strength in the company. He says the credit downgrades are manageable. They are filing for a rate increase for the US auto insurance business. Life insurance is performing well outside of the US. They expect mortgage insurance and loan units to be affected into 2009 by credit market and housing weakness.

Futures are down, along with the dollar. European markets are down, as well.

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Comments

4 Responses to “Pre-Market Update May 9,2008”

ecklebob on May 9th, 2008 9:24 am

I believe he was right in raising the divvy. It will be easier to get the share price to $0 that way.
Dave B on May 9th, 2008 9:50 am

Does that make it a Buy opportunity if it’s at $0 ?
If so I have to pockets full to invest.
Lisa on May 9th, 2008 9:55 am

I see the comedy team is at work early today. That’s good! If you can’t laugh at all this, you’d cry.
ecklebob on May 9th, 2008 9:56 am

Dave, I’m actually quite surprised AIG was not immediately upgraded upon the release of their stellar earnings.