GMX Resources Soars Over 11% (GMRX, POT, COF, ING, AIG)
GMX Resources Inc (NYSE:GMXR) went up 11.30% to $0.89. The Company has successfully drilled and completed its sixth operated horizontal Bakken well. The Company will pay a regular quarterly dividend of $0.578125 per share on July 2, 2012 to holders on the 3,176,734 outstanding shares of its 9.25% Series B Cumulative Preferred Stock.
Potash Corp Saskatchewan (USA) (NYSE:POT) jumped up 1.24% to $38.38 on a traded volume of 337k shares. The stock opened at $37.66. The 52-week range of the stock is $36.73-$62.60. In the last one month, the stock went down 3%.
Capital One Financial Corp (NYSE:COF) went up 0.83% to $53.46. The Company said that delinquencies at its U.S. credit-card business fell for the fourth-straight month in May from the month earlier.
Chief Financial Officer Gary Perlin said that the Company will look to increase its dividend next year and may examine other ways of returning capital to shareholders.
ING Groep N.V. (ADR) (NYSE:ING) climbed up 4.55% to $6.20. According to reports from Reuters, Moody’s Investors Service had downgraded five Dutch banks including ING Groep. Moody’s kept a negative outlook for ING Groep NV, this could lead to lower the ratings again.
Cognizant has expanded its relationship with ING U.S. to offer a comprehensive array of insurance business process services. The expanded seven-year, $330 million agreement builds on Cognizant’s ongoing success in providing specific technology systems management for ING U.S.
American International Group Inc (NYSE:AIG) is up marginally 0.90% to $31.31. The Company has reduced U.S. government-authorized support by more than $152 billion as a result of the repayment of the Federal Reserve’s so-called Maiden Lane III LLC loan. AIG has fully repaid the non-recourse loan using cash flows from interest and principal payments as well as liquidation of assets. The U.S. Treasury still owns about $30 billion in AIG common stock as the government’s remaining investment.