Stocks in the news: AIG, Bank of America, Nike, Hertz

Updated

The following post rounds up the companies making headlines today:

Nike (NKE) reported a 30 percent decline in its fiscal fourth-quarter profit and said orders are down 12 percent because of the global economic recession. Shares dropped over 4 percent ahead of the bell.

American International Group (AIG) said Wednesday it will reduce outstanding federal loans by $25 billion by giving the Federal Reserve Bank of New York a preferred stake in two units -- American International Assurance Co. and American Life Insurance Co. -- that will be spun off from the insurance giant as independent entities. Shares gained over 2 percent in pre-market trade.

Originally published