U.S. stocks drop on AIG, Wal-Mart; off lows following data

Date: Thu, 07 Aug 2008 12:04:24 -0400
U.S. stocks drop on AIG, Wal-Mart; off lows following data

U.S. stocks on Thursday decline sharply after the government reported a
rise in weekly jobless claims, American International Group Inc.
reported a large loss, and Wal-Mart Stores Inc.'s sales weighed on
sentiment.

With end of stimulus checks, retailers miss July sales estimates

With the end of stimulus checks, U.S. retailers led by Wal-Mart Stores
Inc. reported disappointing July sales as cash-strapped consumers
remained cautious about discretionary purchases.

Hedge Funds: Pallotta to leave Tudor; firm to spin off Raptor

SAN FRANCISCO
James Pallotta, vice chairman and managing director of U.S. public
equities at Tudor Investment Corp., is leaving the giant hedge fund firm
and plans to launch the Raptor Global Funds unit he runs as a separate
business, according to a letter Tudor sent to investors this week.

AIG shares skid as blue-chip insurer posts $5.4 billion loss

American International Group shares fall in reaction to the largest
global insurer's second-quarter loss of more than $5 billion.

Economic Report: U.S. initial jobless claims rise to 455,000 in latest
week

First-time claims for state unemployment benefits remain unusually high
as more workers qualified for regular benefits under an unrelated
extended federal benefits program, the Labor Department says.