Shares of American International Group Inc (NYSE:AIG) ended Tuesday session in red amid volatile trading. The shares closed down -0.44 points or -0.75% at $58.23 with 7.10 million shares getting traded. Post opening the session at $58.03, the shares hit an intraday low of $57.71 and an intraday high of $58.37 and the price vacillated in this range throughout the day. The company has a market cap of $62.68 billion and the numbers of outstanding shares have been calculated to be 1.08 billion shares.
American International Group Inc (AIG) on September 14, 2016 announced that in accordance with the terms of the outstanding warrants (CUSIP number 026874156) (the “Warrants”) to purchase shares of AIG Common Stock, par value $2.50 per share, the Warrant exercise price will be reduced to $44.5525 per share from $44.5826 per share and the number of shares of AIG Common Stock receivable upon Warrant exercise will increase to 1.010 from 1.009. Each of these adjustments will be effective at the close of business on September 15, 2016. Any Warrant exercised on or prior to September 15, 2016 will not be entitled to these adjustments.
These adjustments resulted from the declaration by the Board of Directors of AIG on August 2, 2016 of a dividend of $0.32 per share on AIG Common Stock. The dividend is payable on September 29, 2016, to stockholders of record at the close of business on September 15, 2016.
Shares of Credit Suisse Group AG (ADR) (NYSE:CS) ended Tuesday session in red amid volatile trading. The shares closed down -0.32 points or -2.31% at $13.53 with 4.11 million shares getting traded. Post opening the session at $13.67, the shares hit an intraday low of $13.44 and an intraday high of $13.72 and the price vacillated in this range throughout the day. The company has a market cap of $28.12 billion and the numbers of outstanding shares have been calculated to be 2.08 billion shares.
On Sept. 12, 2016 Commodities declined in August, largely driven by supply fundamentals and evolving macroeconomic headlines, according to Credit Suisse Asset Management.
The Bloomberg Commodity Index Total Return performance was negative for the month, with 14 out of 22 Index constituents posting losses.
Credit Suisse Asset Management observed the following:
- Precious Metals was the worst performing sector, down 4.95%, led lower by Silver. Positive US economic data increased expectations that the US Federal Reserve (Fed) may raise interest rates earlier than expected.
- Agriculture declined 4.78%, led by Soybean Meal, due to a continued strong production outlook for Soybeans and Soybean Meal following supportive weather conditions in the US Midwest.
- Industrial Metals ended the month 4.11% lower, with Nickel posting the biggest loss, as Chinese imports in July decreased, and economic data indicated continued weak demand.
- Livestock declined slightly, losing 0.09%, led lower by Live Cattle. The US Department of Agriculture’s August 12th World Agricultural Supply and Demand Estimates Report revised projected beef production higher for 2016 and 2017.
- Energy was the best performing sector, up 3.56%. Gasoline gained the most after the US Energy Information Administration reported a larger-than-expected drop in gasoline inventories earlier in the month.
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: “With the US growing season for grains nearing completion, a large crop looks increasingly certain. Attention will slowly shift towards the upcoming planting season in Latin America. Weak emerging market currencies versus the US Dollar resulted in commercial consumers sourcing grains from outside of the US. As South American Corn and Soybean stocks are already low, any planting delays or weather disruptions may support prices. Within the oil and petroleum sector, market participants are shifting their focus to the upcoming OPEC meeting, where expectations for a potential agreement have increased as Iran has regained market share. Meanwhile, Saudi Arabia and Russia are both producing at or near record levels. However, US crude oil output has tightened from mid-2015 peak levels amid significant production cuts. This may provide support to oil prices, if and when OPEC decides to act.”