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Stock Market & Financial Investment News

News Breaks
January 23, 2013
08:55 EDTACE, ACE, MET, MET, MFC, MFC, CB, CB, AIG, AIG, ALL, ALL, MMC, MMC, PGR, PGRBofA/Merrill's insurance analysts to hold a conference call
European Insurance Analyst Stewart, U.S. P/C Insurance Analyst Cohen, U.S. Life Insurance Analyst Weiss, Asian Insurance Analyst Chan and Canadian Insurance Analyst Theriault discuss the 2013 global insurance outlook and their top five picks, ACE Ltd, AIA Group Ltd, ING Group, MetLife and Manulife, on an Analyst/Industry conference call to be held on January 23 at 9 am.
News For ACE;MET;MFC;CB;AIG;ALL;MMC;PGR From The Last 14 Days
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September 30, 2014
18:59 EDTALLAllstate shifting TV advertisement dollars to digital advertising, WSJ reports
Allstate is shifting its TV advertisement resources to digital-based advertising, The Wall Street Journal reports, citing an interview with the company's senior VP of marketing, Lisa Cochrane. Lisa said, "From 2013 to 2015, we will have shifted about 20% of our TV ad dollars to digital advertising. We are following people’s media consumption.” Cochrane added that the company will be spending about a third of its advertisement resources on the web by 2015. Reference Link
15:06 EDTAIG, METFed will begin study to evaluate impact of capital rules on insurance companies
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September 29, 2014
16:50 EDTMFCManulife Financial's John Hancock acquires office building for $244M
John Hancock, the U.S. division of Manulife Financial Corporation, one of the largest life insurance companies in the world, announced that it has acquired 55 West Monroe, a 40 story, 804,214 SF, Class "A" office building located in Chicago's Central Business District's Central Loop for $244M.
08:24 EDTAIGAIG bailout challenged by former CEO Greenberg, WSJ reports
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September 25, 2014
10:35 EDTMFCManulife Financial management to meet with UBS
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10:06 EDTMMCOn The Fly: Analyst Downgrade Summary
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07:46 EDTMMCMarsh & McLennan downgraded to Neutral from Outperform at Macquarie
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06:08 EDTALL, PGRCiti recommends long Progressive, short Allstate pair trade
Citigroup recommends a pair trade of overweighting Progressive (PGR) while underweighting Allstate (ALL). Citi expects margins to expand for Progressive and fall at Allstate. The firm has a Buy rating on Progressive and Neutral rating on Allstate.
September 24, 2014
17:33 EDTALLMarchex received notice of termination from Allstate
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September 19, 2014
11:19 EDTAIGAIG loss of Jay Wintrob a 'big deal,' says Wells Fargo
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10:06 EDTALLOn The Fly: Analyst Downgrade Summary
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07:10 EDTALLMarchex price target cut to $6 from $12 at RBC Capital
RBC Capital cut its price target on Marchex (MCHX) after the company announced that Allstate (ALL) would no longer be its customer. However, the firm notes that Marchex has about $3.40 per share in cash, and it still believes that the company can benefit from the mobile and local Internet "megatrend." It keeps an Outperform rating on the shares.
06:26 EDTALLAllstate downgraded to Equal-Weight from Overweight at Evercore
September 18, 2014
16:30 EDTAIGAIG Life & Retirement CEO Jay Wintrob leaving company
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12:45 EDTALLOn The Fly: Midday Wrap
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08:59 EDTALLOn The Fly: Pre-market Movers
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06:20 EDTALLMarchex cuts 2014 call-driven revenue outlook due to revised Allstate commitment
Allstate (ALL) has indicated its desire to move to a fixed fee model going forward. Under this proposed model, Marchex’s (MCHX) economic upside would have been limited, while financial exposure to Marchex would have remained. Marchex does not believe it is in its best long-term interest to work under such an arrangement. Marchex will continue to work with Allstate as an integration partner utilizing its call analytics technology. Marchex expects this will be a relatively small financial contributor. Marchex CEO Russell Horowitz said, "“This outcome is disappointing, as we believe that a performance-based model is the way most companies are progressing. This is the trend we are seeing with our customer base... Beyond Allstate, we continue to experience growth in our customer base for call-driven advertising products and believe we are early in the customer adoption phase of mobile and call-driven advertising."
September 17, 2014
14:41 EDTMETMetLife management to meet with Sterne Agee
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