Boston, MA 02/17/2014 (wallstreetpr) – Investors in American International Group Inc (NYSE:AIG) realized the true story after reading the fine print. The company released its quarterly report recently and reported earnings of $1.34 per share. The company managed to beat analysts’ expectation of $0.96 per share. It was also significantly higher than the earnings of $0.20 per share for the same quarter last year. However, the company faces several critical issues ahead and the P&C margins remain under pressure. The property-casualty results (P&C) figures disappointed during the quarter. American International Group Inc (NYSE:AIG) has announced a quarterly dividend of $0.125 per share representing a yield of 1.01%.
Verizon Communications Inc (NYSE:VZ) is planning to shut down 5 customer-service call centers and consolidating 7 others. The move is expected to affect 5,200 workers. The move is aimed at rationalizing costs as the company is facing tough competition from other companies. Verizon Communications Inc (NYSE:VZ) is also ramping up the roll out of the 4G network across the U.S. The company aims to utilize the freed resources for enhancing its coverage and to keep pace with the changing market scenario.
In other news, General Electric Company (NYSE:GE) announced that CRS Electronics Ltd. has settled a patent infringement case with it. The patent covered the use of light emitting diodes (LED) and related technologies. Defending patent infringements has become very vital in today’s competitive world and many companies are spending millions of dollars on its Intellectual Property Rights. GE lighting offers non-exclusive licenses under these patents. CRS Electronics has agreed to a license from GE covering the patents. The patents cover technology which is important for the long life operations of LED based lights. LED lights are expected to replace current CFLs and light bulbs in future as their use leads to less energy consumption. Large scale use is limited on account of higher prices of such lights.
