friday trading, page-2

This comes out after Dow close and hit S&P future.


AIG reports $7.8 bln net loss; to raise $12.5 bln in capital

By Alistair Barr
Last update: 4:25 p.m. EDT May 8, 2008
SAN FRANCISCO (MarketWatch) -- American International Group reported a $7.81 billion first-quarter net loss late Thursday and announced plans to raise $12.5 billion selling new shares, equity-linked securities and fixed-income securities with a large equity component included. The net loss was $7.81 billion, or $3.09 a share, versus net income of $4.13 billion, or $1.58 a share, a year earlier, the insurer said. The adjusted net loss in the latest quarter was $3.56 billion, or $1.41 a share. AIG was expected to lose 76 cents a share, according to the average estimate of 15 analysts in a Thomson Reuters survey.