Thursday, February 5, 2009

Hartford's earnings

Hartford Financial missed their numbers, and the stock is trading at 12 in the afterhours. I think that tomorrow the market will be forgiving with the stock, as HIG still thinks they could make $6 next year if the S&P advances 9%. (Now you know where their exposure is!)

Prudential and Met Life found bids today, (before swooning the last half hour) so I think you can probably get the stock at cheap prices tomorrow morning. HIG will do th edog and pony show with their slideshow, and try and mollify investors, and then, Lord knows we'll have some type of Government break for the insurers thrown into Geithner's kitchen sink plan, or else the stock prices will still go down the drain.

Unless of course, if it's the chosen few, Goldman Sachs, Morgan Stanley and JP Morgan.

But even BofA looked like it hit a trading bottom today.

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