Late Radar Stocks: AIG Pays Uncle Sam, MS and BofA Hit by EU Again, and Sirius Getting Serious About Profits
Shares of battered American International Group (NYSE:AIG) are trading 1.8% higher in late trading. The US Treasury Department announced it received $972 million from the bailed out company. AIG received more than $180 billion in funds from the government and the Federal Reserve. The government has received a total of $18 billion back, and still owns 77% of AIG.
JDS Uniphase Corporation (NASDAQ:JDSU) is surging nearly 5% higher in extended trading, despite reporting a fiscal first quarter loss of $5.8 million (3 cents per share), compared with a gain of $100,000 last year. The company competes with Finisar Corp (NASDAQ:FNSR) and Avago Technologies Limited (NASDAQ:AVGO).
The financial sector (NYSE:XLF) was hit hard after the EU plan started to unravel. Morgan Stanley (NYSE:MS) and Citigroup (NYSE:C) closed nearly 8% lower, but are edging slightly hour after the closing bell. Goldman Sachs (NYSE:GS) and Bank of America (NYSE:BAC) are also trading higher in late trading after closing sharply lower. Investors should also keep an eye on Wells Fargo (NYSE:WFC) and JP Morgan (NYSE:JPM).
Sirius XM Radio (NASDAQ:SIRI) is jumping more than 1% after reporting strong third quarter earnings. Net income for the broadcasting company rose to $104.2 million (2 cents per share) vs. $67.6 million (one cent per share) in the same quarter a year earlier. This marks a rise of 54.1% from the year earlier quarter. Competitors include: Time Warner (NYSE:TWX), CBS Corporation (NYSE:CBS), Disney (NYSE:DIS), and Cumulus Media (NASDAQ:CMLS).
Investing Insights: Sirius XM Radio Inc. Earnings: Beats Estimates.