Penny Stock Pick Alert reports FNM, AIG, ABK as Biggest Financial Stocks Losers

November 7, 2009

(EMAILWIRE.COM, November 07, 2009 ) Dallas, TX - Fannie Mae (NYSE:FNM) decreased 7.14% to $1.04 on a volume of 50.97 million shares after the company announced Thursday a policy under which thousands of borrowers on the verge of foreclosure will soon have the option of renting their homes from Fannie Mae. The government-controlled company, through its new 'Deed for Lease' program, will allow borrowers to transfer ownership to Fannie Mae and sign a one-year lease, with month-to-month extensions after that.

American International Group, Inc. (NYSE:AIG) went down 9.67% to $35.48 on over 40.34 million shares after the company on Friday posted its second consecutive quarterly profit after big gains on assets it owns, but it said its main insurance operations were lackluster. The U.S. unemployment rate climbed to 10.2% in October, topping the 10% mark for the first time in 26 years, the Labor Department reported Friday. The unemployment rate was the highest since April 1983.

Ambac Financial Group, Inc. (NYSE:ABK) declined 2.50% to $1.17 on over 18.98 million shares. The Stock hit an intraday high and an intraday low of $1.20 and $1.12 respectively. In the last six months the stock went down over 18%. Ambac Financial Group, Inc. is a primarily a holding company. The Company, through its subsidiaries, provides financial guarantees and financial services to clients in both the public and private sectors worldwide.


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