Bailed-Out Financial Institution Stocks Surge (C, FRE, FNM, AIG)
By Benzinga Staff
March 09, 2010 8:00 PM
March 09, 2010 8:00 PM
Posted in: Intraday Update
Shares of financial institutions bailed-out by the U.S. government during the financial crisis surged in trading on Tuesday.
Citigroup, Inc. (NYSE: C) surged by as much as 8.4% to $3.86 before closing at $3.82 in trading on Tuesday. The stock received a boost after positive comments by fund manager Bruce Berkowitz on the company’s financial position.
American International Group, Inc. (NYSE: AIG) surged as much as 19.6% before closing at $32.77. The shares of Freddie Mac (NYSE: FRE), and Fannie Mae (NYSE: FNM) were up by as much as 18.5%, and 15%, respectively. Freddie Mac ended the day at $1.28, while Fannie Mae ended the day at $1.07.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
We're Loving
