(Premarket story updated with AIG news and share price information.)NEW YORK ( TheStreet) -- More than 30 banks signed a multi-billion dollar credit facility agreement with American International Group ( AIG) less than two weeks after the insurer set out plans to exit a government bailout. Shares of the company are up 2.14%, or $1.27, to $60.65 in premarket trading.
Large oil and gas companies such as ExxonMobil ( XOM) and ConocoPhillips ( COP) have put significant portfolios of assets up for sale, the Financial Times reported, citing consulting firm Derrick Petroleum Services. Shares of ExxonMobil are rising 0.68%, or 50 cents, to $73.51 in premarket trading.
Freeport-McMoRan Copper & Gold ( FCX) reached a 52-week high share price of $119.44 yesterday as gold prices shrugged off China's interest rate hike. On Dec. 22 Goldman Sachs issued the company a buy rating and raised its price target for the stock to $132 from $111. Shares of the Freeport-McMoRan Copper & Gold are up 1.47%, or $1.74, to $120.35 in premarket trading.
Online activists claimed a cyber attack on Bank of America's ( BAC) Web site yesterday, but the bank did not show any signs of failure. The bank's stock remained relatively steady after the People's Bank of China raised the one-year lending rate to 5.81% on Dec. 25 to fight inflation. Bank of America shares are up 0.98%, or 13 cents, to $13.40 in premarket trading.
Cisco ( CSCO) shares may rise as the company sees stronger demand for equipment and as it begins paying dividends, according to a report from Barron's. Cisco shares are up 1.04%, or 21 cents, to $20.37 in premarket trading.
A research report from Barron's yesterday rated Netflix ( NFLX) with an "investors beware" rating. Barron's says it expects the online video company will have a hard time maintaining profit margins as studios start to demand more money to access their media content libraries. Shares of the company are down 0.14%, or 26 cents, to $179.75 in premarket trading.
Xoma Limited ( XOMA) is working on a new drug, Xoma 052, which is intended to treat Type 1 and Type 2 diabetes as well as cardiovascular disease. Xoma 052 is in the second phase of development and the company plans to release interim results in early 2011. Shares of the company are dropping 0.65%, or 4 cents, to $6.10 in premarket trading.
Amazon's ( AMZN) Kindle e-reader has become the best selling product in the company's history. The company did not disclose specific sales figures for the Kindle. Shares of the company are down 0.07%, or 13 cents, to $182.01 in premarket trading.
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