AIG reports $7.81B loss

Discussion in 'Wall St. News' started by S2007S, May 8, 2008.

  1. S2007S


    AIG reports $7.81B loss
    The company says it plans to raise $12.5 billion to strengthen its balance sheet.

    May 8, 2008: 4:28 PM EDT

    NEW YORK ( -- American International Group Inc., the nation's largest insurer, reported a net loss of nearly $7.81 billion for the first quarter and said it would seek to raise $12.5 billion in capital to shore up its balance sheet.

    The company reported a net loss of $7.81 billion, or $3.09 per share, for the first quarter. Excluding certain charges, AIG said it lost $3.56 billion, or $1.41 per share.

    Analysts were expecting a loss of 76 cents per share, according to consensus estimates compiled by

    The company said it plans to issue a common stock offering and an equity-linked offering worth about $7.5 billion.

    Shares of AIG (AIG, Fortune 500) fell nearly 7% Wednesday amid a broad selloff in financial stocks and record high oil prices. To top of page
  2. market shrugs it off
  3. gimp570


    might be another FNM...down 4 pts end positve for the day 1 or 2 pts
  4. Wonder if they'll try to pin this one on hanky panky greenberg as well!
  5. markets rally

    AIG yesterdays news