• MARKETS
  • MARCH 9, 2010, 4:43 P.M. ET

Shares of Bailed-Out Firms Rally

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BY DAVID BENOIT AND SHARA TIBKEN

Rapid and heavy trading sent shares of former financial titans American International Group Inc., Citigroup Inc., Fannie Mae and Freddie Mac soaring Tuesday.

None of the companies released specific news, but a series of reports and market speculation snowballed as the day went on.

A surge of optimism appeared to start Tuesday with Citi's share gains. The stock moved higher right after the opening bell and then continued on a steady pace through much of the session, up 7.3% to $3.82.

At about 1 p.m. EST, the optimism in the cheap shares of Citi seemed to spread. AIG shares at ...

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