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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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October 21, 2014
16:19 EDTACEACE Limited reports Q3 EPS $2.32, consensus $2.34
Operating income was $2.64 per share, compared with $2.49 per share for the same quarter last year. Book value and tangible book value per share increased 0.2% and 0.4%, respectively, from June 30. Book value and tangible book value per share now stand at $90.38 and $74.05, respectively.
15:30 EDTACENotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Yahoo! (YHOO), consensus 30c; ACE (ACE), consensus $2.34; Discover Financial (DFS), consensus $1.34; Pinnacle Financial (PNFP), consensus 51c; Broadcom (BRCM), consensus 84c; Intuitive Surgical (ISRG), consensus $3.80; FMC Technologies (FTI), consensus 74c; Robert Half International (RHI), consensus 58c; E-Trade (ETFC), consensus 22c; Nabors Industries (NBR), consensus 36c; Waste Connections (WCN), consensus 54c; Cubist Pharmaceuticals (CBST), consensus 4c; Sonic (SONC), consensus 34c; American Campus Communities (ACC), consensus 43c; Cree (CREE), consensus 36c; Fulton Financial (FULT), consensus 20c; Costamare (CMRE), consensus 41c; Hawaiian Holdings (HA), consensus 78c; Ethan Allen (ETH), consensus 36c; Sabra Health (SBRA), consensus 55c; Rush Enterprises (RUSHA), consensus 51c.
14:09 EDTAIGThird Point discloses new positions in eBay, Alibaba, exit from Sony
In its Q3 investor letter, Third Point says it established a "significant" position in eBay (EBAY). Dan Loeb's hedge fund also revealed it has established a significant direct investment in Alibaba (BABA) shares now that the company is public. Third Point also said it is now one of Amgen's (AMGN) largest shareholders. During the quarter, Third Point exited its position in Sony (SNE) and reduced or exited other positions, including AIG (AIG), Hertz (HTZ) and Softbank (SFTBF), the firm stated in its letter. PRICE ACTION: Following the disclosures in the Third Point letter, Amgen is up 4%, eBay is up 2.3% and Alibaba is up 3.8%, while Sony shares trading in New York are down nearly 1%.
08:46 EDTACEACE receives regulatory aprovals to close acquisition of P&C business
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October 20, 2014
08:32 EDTMMCMarsh to acquire Torrent Technologies, terms not disclosed
Marsh announced that it has signed a definitive agreement to acquire Torrent Technologies, a service provider to Write Your Own insurers participating in the National Flood Insurance Program. The transaction is subject to customary closing conditions. Terms were not disclosed.
06:38 EDTAIGAIG upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded AIG to Buy citing valuation following the recent pullback in shares. Deutsche believes concerns that Starr International could succeed in its trial against the U.S. Government are overblown. It raised its price target for AIG shares to $60 from $59.
October 17, 2014
08:14 EDTAIGAIG unlikely to be forced to indemnify government, says Bernstein
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October 16, 2014
11:50 EDTALLAllstate September catastrophe losses higher than expected, says Wells Fargo
Wells Fargo attributes today's move lower in Allstate to its report of September catastrophe losses that came in higher than expected. The firm lowered its Q3 EPS estimate to $1.23 from $1.56 based on the losses, but maintains its Outperform rating on the stock, calling it one of the firm's top-picks among non-life insurers.
09:06 EDTALLAllstate reports Q3 catastrophe losses of $517M
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09:04 EDTALLAllstate reports September catastrophe loss estimate $250M
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07:11 EDTMETAIA, MetLife, others contemplate offers for NAB division, Bloomberg says
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October 15, 2014
08:31 EDTMETMetLife provides $150M agricultural mortgage loan to Amaggi Group
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06:05 EDTACEACE Limited creates new distribution unit in Asia Pacific
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06:00 EDTACEACE Limited creates new distribution, client management unit in Asia Pacific
ACE Group announced the creation of a new unit to focus solely on the execution of distribution strategies across the Asia Pacific region. Enabling a high-level and efficient conduit between ACE and its distribution partners throughout the vast territory stretching from South Korea to Australia and New Zealand, this unit will focus on maximizing ACE’s product offering including portfolio-based solutions, facilities, joint product design and execution initiatives with key brokers in the region. Additionally, the unit will serve the unique needs of ACE’s large clients domiciled in Asia Pacific with the ultimate mission to ensure efficient trading across all commercial lines of business; providing distribution partners and clients with relevant and timely products backed by the strength of ACE’s balance sheet.
October 14, 2014
08:04 EDTMETDeutsche sees favorable risk/rewards in Insurance space
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October 13, 2014
09:48 EDTMMCMarsh private healthcare enrollment beat expectations, says Wells Fargo
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09:42 EDTMMCMarsh & McLennan unit reports gains in private healthcare exchange enrollment
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October 10, 2014
16:37 EDTALLAllstate files to sell $25M of market value adjusted annuity contracts
11:44 EDTPGRProgressive September operating EPS better than expected, says Wells Fargo
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08:49 EDTPGRProgressive reports September net premiums written up 5% to $1.42B
Reports September net premiums earned up 6% to $1.4B. Reports September net income up 49% to $92M. Reports September net income per share 16c vs. 10c last year.
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