Update: Bloomberg is reporting that if the AIG-Metlife deal doesn’t go through, S&P may cut Metlife’s ratings. Ouch.
Metlife is having a bad week.
First, it reported fourth-quarter revenue of $12.34 billion vs. the Street consensus of $12.56 billion.
Second, talks popped up that Metlife would possibly acquire AIG’s American Life insurance subsidiary. Talks have since broken down and no agreement has been reached yet.
Its stock is now down 4.5% to $34.73 a share
And here’s another chart from our friend @SellPuts who sees a bearish downward slope.
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See Also:
- This Is What Too Big To Fail Looks Like
- AIG May Face An $11 Billion Shortfall In Insurance Reserves
- The Fed’s Attempt To Explain Away Bungled AIG Rescue Only Makes Things Worse