Early Morning Trading Targets: AIG, Insmed, Cognizant Technology Solutions
Uncle Sam is getting paperwork together to dump $5 billion of shares in American International Group Inc. (NYSE:AIG). The Treasury is selling the shares at $30.50 each, just below AIG’s closing price on Friday of $32.83. AIG is already a popular day trading vehicle, but the headline is making it particularly attractive this morning.
Insmed (NASDAQ:INSM) is another day trading fave. Today the stock is popping 65% after the FDA lifted a hold on trials of Insmed’s lung drug. Will it make it to market? Traders don’t care. They just love the headline driven volume.
Cognizant Technology Solutions (NASDAQ:CTSH) made a major Wall Street snafu: the company surprised analysts with a worse outlook than they signaled to the Street. Yikes. The stock is tanking over 18% and is in a confirmed text book downtrend for trading.
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