NEW YORK -- The U.S. Treasury said Monday it would sell its remaining stake of more than 234 million shares of American International Group (AIG), the giant insurer.
The government's shares represent a 16% in AIG.
AIG was bailed out by the U.S. government in 2008 at the height of the financial crisis. The bailout cost more than $182 billion.
Texas Instruments (AIG) reduced its outlook for fourth-quarter earnings. The chipmaker said Monday it expects earnings for the period of 5 cents to 9 cents a share, down from its previous forecast of 23 cents to 31 cents a share. The forecast includes charges of 21 cents a share related to the restructuring of the company's wireless segment. Texas Instruments said it expects fourth-quarter revenue of $2.89 billion to $3.01 billion; its prior outlook was revenue of $2.83 billion to $3.07 billion. Analysts forecast earnings of 6 cents a share on revenue of $2.95 billion. Cramer: Don't Bet Against Texas Instruments
HSBC (HBC), Europe's largest bank, said Tuesday it would pay $1.9 billion to settle a U.S. money-laundering probe. The probe focused on the transfer of funds through the U.S. financial system from Mexican drug cartels and on behalf of nations such as Iran that are under international sanctions. HSBC's fine is the largest penalty ever paid by a bank.
Morgan Stanley (MS) could soon ask U.S. regulators to allow it to buy back shares for the first time in more than four years, The Wall Street Journal reported, citing people familiar with the firm's thinking. Morgan Stanley could make its request to the Federal Reserve as soon as January as part of the annual "stress-test" process, the people told the newspaper.
Dollar General (DG) is expected by analysts to report third-quarter earnings Tuesday of 60 cents a share on revenue of $3.96 billion.
Comverse Technology (CMVT) is seen posting fiscal third-quarter earnings of 12 cents a share on revenue of $399.8 million. 5 Stocks Facing an Earnings Short Squeeze
-- Written by Joseph Woelfel
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