The first quarter loss for insurance giant
(AIG - Get Report)
spooked investors Friday and kept pressure on financial stocks.
The insurance giant plunged 8.8% to $40.28, after it reported a $7.8 billion first-quarter loss Thursday after the bell, its second straight loss in a row. Placing the blame on credit markets, AIG said it would raise $12.5 billion in capital in the next few months.
(RNWK - Get Report)
was up 92 cents, or 14%, to $7.39 after the company said it expects second-quarter revenue
ahead of Street estimates
. The company also said it will spin off its games division and plans to buy back up to $50 million of stock.
Among the big losers,
fell to new lows, decling 15% to $9.95. The New York wedding planner announced first-quarter income of $579,000, or 2 cents a share, vs. $1.6 million, or 5 cents a share, a year ago. Analysts polled by Thomson Reuters were looking for EPS of 5 cents.
(PCLN - Get Report)
added $17.22, or 14.4%, to $141.65 after it
beat Street expectations
for the first quarter on the strength of travel bookings and international revenue. It also offered strong outlook for the current quarter.
(HRB - Get Report)
shares jumped 7.8% after the Office of Thrift Supervision that reversed its requirement that the tax preparer hold a 3% capital reserve. The company's sale of its Option One Mortgage unit and its lower risk profile gave comfort to regulators. The stock gained $1.71 to $23.57.
fell to a new 52-week low, lately declining 39% to $8.67. The Rock Hill, S.C., multimedia and graphics software company posted a wider first-quarter loss of $3.7 million, or 17 cents a share, from of $3.1 million, or 16 cents a share, a year ago. Analysts were expecting a profit of 4 cents a share.