Movers: AIG, Lehman, Citigroup, Wal-Mart, J.C. Penney

American International Group posts $0.51 second quarter adjusted loss per share, vs. $1.77 adjusted EPS a year ago. Net loss was $2.06, vs. $1.64 EPS, reflecting $11.6 billion in investment losses/write-downs largely tied to AIG's outsized mortgage exposure. AIG said the continuation of the weak U.S. housing market and disruption in the credit markets, as well as global equity market volatility, had a substantial adverse effect on its second quarter 2008 results. S&P maintains hold. Lehman Brothers shares fall after the NY Post, citing sources, reports LEH CEO Dick Fuld is in scramble mode as he pursues multiple strategies designed to raise much-needed capital while at the same time ensuring that LEH remains in one piece. In recent days, Fuld has held discussions with various private-equity and foreign investors, including... [read full story]