$AIG Misses; Stocks Slumps in the After-Hours

There’s always a bear market. In this case, it lies in the shares of AIG, getting clown-punched in the after hours, off by 3%

Reports Q1 (Mar) operating earnings of $0.65 per share, $0.35 worse than the Capital IQ Consensus of $1.00.

Normalized ROE increased by 110 basis points to 8.9% from the first quarter of 2015, and includes a benefit of 50 basis points due to the lower effective tax rate

GOE reduction of 5% from the first quarter of 2015, excluding the impact of foreign exchange

Commercial Property Casualty accident year loss ratio, as adjusted, of 64.5, 1.7 points lower than full-year 2015 and 0.1 point higher than the prior-year quarter

Strong growth in Personal Insurance underwriting results

Returned $4.0 billion to shareholders

They missed by 0.35 cents. I can’t wait to hear how longs justify remaining long this abomination. This company should’ve been broken up into 10,000 pieces during the financial crisis. It is a reminder, a tombstone rather, of American stupidity, largess.

Fuck AIG.