Stocks to Watch AIG, BP
NEW YORK -- AIG (AIG) said the U.S. Treasury Department is selling $18 billion worth of its common shares to institutional investors.
The sale could decrease the government's holdings below a majority stake for the first time since the rescue of the giant insurer in 2008.
BP (BP) is nearing a deal to sell some of its oil fields in the Gulf of Mexico to Plains Exploration & Production (PXP) for about $7 billion, according to published media report.
The Wall Street Journal cited anonymous sources familiar with the matter. The sale would be part of the BP's continuing efforts to sell off assets to pay for the 2010 Gulf oil spill. BP Near Deal to Sell Gulf Assets: ReportJPMorgan Chase (JPM)directors are considering lower 2012 bonuses for CEO Jamie Dimon and other top executives in the wake of a multbillion-dollar trading scandal, while the board of Citigroup (C) is expected to decide this fall how to fine-tune next year's compensation plan to win broader support among investors, people familiar with the situation told the Journal.
Intel (INTC) shares fell 3.61% on Friday after the chip giant lowered its third-quarter revenue forecast. Intel said Friday it now expects third-quarter sales between $12.9 billion and $13.5 billion, well below its prior forecast of $13.8 billion to $14.8 billion. Intel Lowers Third-Quarter Outlook
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: tips@thestreet.com.
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