BusinessWeek
AIG shares fell a penny to $30.59 in after-hours trading Wednesday after closing at $30.60, down $1.06, or 3.4 percent, from a day earlier.
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Kongzhong Corp. (NASDAQ: KONG) is having a strong trading day in the stock, but its implied volatility via options is rising 21% to 58% on the day with shares 13% higher on a positive mention at Navellier. There looks to be more to the move. Two block buyers at the offer on wide spreads of 3,000 contracts each in the OTM February $12.50 calls came in at 10:24 and 10:31am. Call volume is already 35X daily volume.
At 10:40 AM EST shares are up over 13% at $11.79 on 488,000 shares. Average share volume is 339,000 shares and the 52-week range is $3.14 to $16.16.
JOE KUNKLE, OptionsHawk.com
Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) are playing give-back this morning after more and more pundits and reports keep calling these stocks (under government conservatorship) worthless. The government can offer unlimited support, but that is no assurance that the stock and preferred shares won’t be wiped out.
FNM lost gains seen early yesterday and closed down $0.02 at $1.25 on over 124 million shares. At 8:53 AM EST we have seen 1.01 million shares trade and the last print was down 4% at $1.20.
FRE also lost its earlier gains yesterday and closed down $0.10 at $1.50 on over 64 million shares. At 8:53 AM EST we have seen 440,000 shares trade hands at $1.43 for a 4.6% drop so far.
JON C. OGG