AIG, Fannie Mae, Freddie Mac Surge in U.S. Trading
- AIG advanced after Radian Group Inc. reported $231.9 million in profit. Fannie Mae and Freddie Mac climbed as a person familiar with the matter said that James Lockhart, the director of the Federal Housing Finance Agency that oversees them, will resign soon.
- “Institutions under government conservatorship are speculative bets,” said Michael O’Rourke, chief market strategist at BTIG LLC in Philadelphia. “They’re not free- enterprise companies, and the normal fundamentals that drive a business or an investment don’t apply.”
- AIG is scheduled to report a second-quarter results on Aug. 7.