American International Group (AIG) saw profit in their fourth quarter rise by 77%. This was due to a big tax benefit. Shares are trading up 4.5% to $29.00. This could lift the financial sector as a whole tomorrow. Deckers Outdoor Corp. (DECK) is trading down pretty heavily. The company beat EPS and Revenue estimates but is still getting smacked. Stock is currently down 6.85% to $82.41. Good old Crocs Inc. (CROX) is getting hammered as well; this shouldn’t be a surprise to anyone. Only in America can the most hideous pair of clogs sell. Stock down 9.85% to $18.25 as CROX issued poor Quarter 1 guidance. The SPY closed at $136.70 after putting in a low at exactly $135.50. The trend of morning sell offs and afternoon buy programs stills seems to be the status quo for 2012. The SPY is up 7.5% for the year so far.
Written by Cameron Patrick