AIG, Other Insurers Rise on Marsh News

Qualcomm shares dip after downgrade; Omnicom net rises; plus more of Tuesday's stocks in the news

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October 26, 2004 at 4:00 AM UTC

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American International Group (AIG ) is among a number of insurance stocks seen higher after New York Attorney General Eliot Spitzer said he would not bring criminal charges against Marsh & McLennan (MMC ). The Marsh board accepted the resignation of Greenberg CEO Jeffrey Greenberg on Monday and named Michael G. Cherkasky as president and CEO and elects him to board of directors. The company is to announce significant reforms in the business model of the Marsh Inc. unit.

Qualcomm (QCOM ) drops after Morgan Stanley downgrades to underweight from equal-weight.