Top Traded Stocks (C,AIG,S,ABK,CIT)

Citigroup Inc. (NYSE: C) is the top traded stock and surged 4.64% to $4.64 on 336.43 million shares against an average volume of 436.66 million shares Today, Citibank has signed a deal with Richard Branson’s Virgin Money to offer products and services of new credit cards, mortgages and retail deposit accounts.

Sprint Nextel Corporation (NYSE: S) rose 3.18% to $4.39 on massive volume of 29.59 million shares as Navy awarded a bundled $60 million contract to AT&T Inc., Sprint Nextel Corporation and Verizon Communications Inc. for nationwide cell phone service, the Pentagon said. Each wireless company will receive a $20 million contract. Work is to be performed in various locations across the U.S. and expected to be completed by September 2010.

American International Group, Inc. (NYSE: AIG) soared 8.31% to $52.42 on 51.71 million shares compared to total average volume of 117.73 million shares . Yesterday, American International Group Inc.’s U.S. rescue package, revised three times in the past year, would be eased again under a proposal being pushed by the leader of the House Oversight and Government Reform Committee, the Bloomberg reported.

Ambac Financial Group, Inc. (NYSE: ABK) jumped up $0.25 or 15.15% to $1.90 on 43.75 million shares on no news. The stock has recovered over 55% from its 52-week low of $0.35.

CIT Group Inc. (NYSE: CIT) rose 17% and now trades at $1.72 with a volume of 40.26 million shares on no news. During the current calendar year the stock has corrected over 59%.