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Stock Market & Financial Investment News

News Breaks
January 24, 2013
08:19 EDTAFSI, TRV, RLI, NATL, MKL, HCC, CB, AIG, AGII, TWGPWilliam Blair says good time to buy commercial insurers
William Blair believes now is a good time to buy commercial insurance stocks with the sector coming out of a cyclical trough. The firm expects earnings to rebound quicker than usual and highlights AmTrust Financial (AFSI), Argo Group (AGII), and AIG (AIG) as its top picks in the sector.
News For AFSI;AGII;AIG;CB;HCC;MKL;NATL;RLI;TRV;TWGP From The Last 14 Days
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October 23, 2014
16:20 EDTCBChubb sees Q4 operating EPS $2.00-$2.10, consensus $2.07
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16:19 EDTCBChubb raises FY14 operating EPS view to $7.35-$7.45 from $6.75-$6.95
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16:18 EDTCBChubb reports Q3 operating EPS $2.17, consensus $1.95
15:30 EDTCBNotable companies reporting after market close
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October 22, 2014
08:53 EDTAFSIAmTrust Financial momentum should continue after results, says SunTrust
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05:52 EDTAFSIStocks with implied volatility movement; AFSI DOW
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October 21, 2014
16:36 EDTTRVOn The Fly: Closing Wrap
Stocks on Wall Street were higher after a report showed existing homes sales hit their fastest pace in a year during September and Apple (AAPL) gave a better than expected sales forecast for its December quarter. ECONOMIC EVENTS: In the U.S., existing home sales beat estimates in September, rising 2.4% from the prior month to a 5.17M rate. In China, GDP slowed to 7.3% year-over-year growth pace in Q3 from 7.5% in Q2, though that was slightly better than expected. Chinese industrial production expanded at a 8.0% rate in September, which was well above projections and up from 6.9% growth in August. China's retail sales grew 11.6% in September compared to the prior year, which was nearly in-line with expectations. COMPANY NEWS: Shares of Apple rose $2.71, or 2.72%, to $102.47 after the company reported better than expected quarterly results and gave a better than expected forecast for its sales during the holiday quarter. Following last night's report, analysts at Cantor Fitzgerald said the iPhone maker "executed impressively" in Q4 and provided a strong outlook for Q1. The firm, which believes investors should "start thinking more boldly" about the company, raised its price target for shares to $143 from $123 and kept a Buy rating on the stock... Five of the Dow's 30 members reported on their quarterly results this morning and Coca-Cola (KO) was the clear loser in the bunch. The soda giant's shares dropped $2.61, or 6.03%, to $40.68 after its revenue missed expectations, it warned that it now expects to be below its long-term EPS growth target for 2014, and the company announced new cost-saving measures. Among the other four, McDonald’s (MCD) fell 0.63%, Verizon (VZ) added 0.43%, United Technologies (UTX) gained 0.49%, and Travelers (TRV) rose 1.12%. MAJOR MOVERS: Among the notable gainers following their earnings reports were medical equipment manufacturer Waters (WAT), which rose $9.63, or 9.87%, to $107.17, and motorcycle maker Harley-Davidson (HOG), which advanced $4.27, or 7.31%, to $62.65. Among the noteworthy losers was Ocwen Financial (OCN), which plunged $4.78, or 18.2%, to $21.48 after the company was called out by the New York Department of Financial Services for erroneously dated letters to borrowers. Benjamin Lawsky, the Superintendent for the NYDFS, stated in his letter to the company that if his department concludes it cannot trust Ocwen's systems and processes, "then it cannot trust Ocwen is complying with the law." Also lower following their earnings reports were Mexican restaurant operator Chipotle (CMG), which fell $45.48, or 6.96%, to $607.55, and defense contractor Lockheed Martin (LMT), which slid $2.92, or 1.66%, to $172.61. INDEXES: The Dow gained 215.14, or 1.31%, to 16,614.81, the Nasdaq advanced 103.40, or 2.4%, to 4,419.48, and the S&P 500 rose 37.27, or 1.96%, to 1,941.28.
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%.
12:57 EDTTRVOn The Fly: Midday Wrap
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06:59 EDTTRVTravelers reports Q3 net written premiums up 6% to $6.03B
Total capital returned to shareholders of $937 million in the quarter, including $751 million in share repurchases. Year-to-date total capital returned to shareholders of $2.885 billion. Increases in book value per share of 9% to $76.42 and adjusted book value per share of 6% to $70.64 from year-end 2013.
06:58 EDTTRVTravelers reports Q3 EPS $2.61, consensus $2.27
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October 20, 2014
15:36 EDTTRVNotable companies reporting before tomorrow's open
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08:36 EDTAFSIAmTrust Financial valuation compelling at current levels, says FBR Capital
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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
10:01 EDTAFSIOn The Fly: Analyst Upgrade Summary
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09:37 EDTHCCHCC Insurance downgraded to Market Perform from Outperform at Keefe Bruyette
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08:43 EDTAFSIAmTrust Financial upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette upgraded AmTrust Financial to Outperform with a $60 price target after transferring coverage of the stock.
08:03 EDTAGIIArgo Group invests in Newtopia
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06:03 EDTAFSIStocks with implied volatility above IV index mean; AFSI CBS
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