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In Spite of Greek Debt Swap, Stocks Mixed (AIG, PEP)

By: , dated March 12th, 2012
The Nasdaq was down today, while the Dow and S&P 500 were only slightly up, after news that the Greek bond swap arrangement had gone through. The valuation of all the bonds involved in the swap is estimated to be around $232 billion, a record amount. In corporate news, the Treasury sold of $6 billion shares of American International Group (AIG) for $29 each, further reducing the stake the government has in the company. Pepsi Co. (PEP) created the new position of president and moved John Compton, currently CEO of the Americans Foods division, to fill the post. This has increased speculation that CEO Indra Nooyi will be leaving the company soon.

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