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Stock Market & Financial Investment News

News Breaks
March 4, 2013
05:55 EDTAIG, AIG, RE, RE, ALTE, ALTE, XL, XL, ACGL, ACGL, MMC, MMC, CNA, CNA, Y, Y, MET, MET, PRE, PREAssociation of Insurance and Financial Analysts to hold a conference
38th Annual Conference of AIFA is being held in Boca Raton, Florida on March 3-5.
News For AIG;MET;Y;CNA;MMC;ACGL;XL;ALTE;RE;PRE From The Last 14 Days
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July 29, 2015
16:06 EDTMETMetLife reports Q2 operating EPS $1.56, consensus $1.48
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15:59 EDTMETNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Facebook (FB), consensus 47c... MetLife (MET), consensus $1.48... Williams (WMB), consensus 24c... Vertex (VRTX), consensus (58c)... O'Reilly Automotive (ORLY), consensus $2.26... NXP Semiconductors (NXPI), consensus $1.37... Marriott (MAR), consensus 81c... Fiserv (FISV), consensus 94c... Western Digital (WDC), consensus $1.45... SBA Communications (SBAC), consensus 9c... Whole Foods (WFM), consensus 45c... Lincoln National (LNC), consensus $1.53... Lam Research (LRCX), consensus $1.47... ServiceNow (NOW), consensus (2c)... Qorvo (QRVO), consensus $1.06... Hologic (HOLX), consensus 39c.
15:08 EDTMETNotable companies reporting after market close
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09:40 EDTPREEXOR says Proxy Mosaic recommends PartnerRe investors vote against AXIS deal
EXOR S.p.A., the largest shareholder of PartnerRe (PRE), welcomes the recommendation from Proxy Mosaic, LLC, a proxy research and corporate governance advisory firm, that PartnerRe Common and Preferred shareholders vote AGAINST the three proposals related to the AXIS (AXS) transaction at the PartnerRe Special General Meeting to be held on August 7. Their recommendation follows a detailed review of the PartnerRe/AXIS and EXOR proposals. The Proxy Mosaic report follows those of fellow proxy voting advisory firms Institutional Shareholder Services Inc. and Glass Lewis & Co., which also recommended PartnerRe shareholders should vote against the AXIS transaction. EXOR has proposed an alternative transaction for PartnerRe of $140.50 per share in cash for Common Shareholders and significantly enhanced terms for Preferred Shareholders. In its recommendation to vote AGAINST the PartnerRe – AXIS amalgamation, Proxy Mosaic said: "… we believe that the premium and certainty inherent in EXOR’s superior all-cash offer outweighs the potential upside in AXIS’ economically inferior offer."
July 28, 2015
12:15 EDTACGLArch Capital moves higher following a positive mention by Navellier
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08:32 EDTAIGAIG to acquire First Principles, terms not disclosed
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08:31 EDTPREGlass Lewis recommends AXIS shareholders vote in favor of PartnerRe deal
AXIS Capital (AXS) announced that Glass Lewis recommended that AXIS Capital shareholders vote FOR the proposed amalgamation agreement with PartnerRe (PRE). Last week, Institutional Shareholder Services—another independent proxy advisory firm—also announced its recommendation in favor of the agreement.
08:31 EDTAIGAIG names Douglas Dachille as Chief Investment Officer
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07:13 EDTMMCMarsh & McLennan reports Q2 adjusted EPS 80c, consensus 79c
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July 27, 2015
16:14 EDTREEverest Re reports Q2 EPS ex-items $5.03 consensus $5.67
Reports Q2 revenue $1.44B, consensus $1.33B. Gross written premiums decreased 11% to $1.3B compared to Q2 of 2014. The combined ratio for the quarter was 86.3% compared to 84.7% in the Q2 of 2014. Book value per share increased 5% from $166.75 at December 31, 2014 to $174.84 at June 30.
16:10 EDTPREPartnerRe reports Q2 EPS ex-items $2.39 , conosensus $2.35
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15:03 EDTPRENotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Baidu (BIDU), consensus $10.58... Avalonbay Communities (AVB), consensus $1.92... Hartford Financial (HIG), consensus 77c... Southwestern Energy (SWN), consensus 6c... PartnerRe (PRE), consensus $2.35... Allison Transmission (ALSN), consensus 34c... Swift Transportation (SWFT), consensus 37c.
09:26 EDTPREEXOR says Glass Lewis recommends PartnerRe investors vote against AXIS deal
EXOR S.p.A., the largest shareholder of PartnerRe Ltd. (PRE), welcomes the recommendation from Glass Lewis & Co. Following its detailed review of the reasonably expected timing, certainty and risks of the proposals Glass Lewis & Co stated that “Exor’s offer is superior” and that PartnerRe Common and Preferred Shareholders should vote AGAINST the three proposals related to the AXIS (AXS) transaction at the PartnerRe Special General Meeting to be held on August 7. Glass Lewis is a leading independent governance analysis and proxy voting advisor for institutional investors. The Glass Lewis report follows that of Institutional Investor Services, another leading proxy voting advisory firm, which last week also recommended PartnerRe shareholders vote against the AXIS transaction. In its recommendation to vote AGAINST the PartnerRe – AXIS amalgamation, Glass Lewis said: “For common shareholders…the relative immediacy and certainty of an all-cash offer at a premium valuation -- which we believe is in line with prior transactions involving reinsurers -- makes Exor's offer more attractive…”
07:15 EDTPREPartnerRe could withdraw from deal, says Wells Fargo
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July 24, 2015
15:28 EDTPREISS recommends AXIS Capital shareholders vote for agreement with PartnerRe
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11:43 EDTPREEXOR 'welcomes' ISS recommendation for PartnerRe vote against AXIS offer
EXOR said it welcomes the recommendation from Institutional Shareholder Services, following its detailed review of the transaction, that PartnerRe (PRE) shareholders vote AGAINST the three proposals related to the AXIS (AXS) transaction at the PartnerRe Special General Meeting to be held on August 7, 2015. ISS is the leading independent provider of recommendations on corporate governance and voting issues for institutional investors. EXOR said it reminds PartnerRe shareholders that voting AGAINST the AXIS transaction at the SGM on August 7 is a critical step to enable PartnerRe to accept EXOR’s fully-financed, all-cash superior offer, delivering Common Shareholders the certainty of $140.50 per share in cash and providing Preferred Shareholders with a conservative credit profile and significantly enhanced terms.
11:21 EDTPREISS recommends against PartnerRe deal with AXIS, Insurance Insider says
Proxy firm Institutional Shareholder Services has recommended that PartnerRe (PRE) shareholders vote against its proposed tie-up with Axis Capital (AXS), said Insurance Insider, adding that the recommendation may be a "potential knock-out blow" Exor, which has made a competing cash offer of $137.50 per share to acquire PartnerRe. Reference Link
July 22, 2015
17:13 EDTPREAXIS Capital, PartnerRe reaffirm commitment to 'superior proposal'
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July 21, 2015
14:22 EDTPREAXIS calls merger agreement with PartnerRe 'superior' to revised EXOR offer
AXIS Capital Holdings (AXS) stated that its merger agreement with PartnerRe (PRE) is "superior" to the revised offer from EXOR. AXIS Capital said, "The value of our merger agreement with PartnerRe is superior to the EXOR offer both immediately and in the future. We provide continuity of interest for investors to participate in the future upside resulting from the substantial strategic and financial benefits of the combined company, the exchange of PartnerRe common stock for combined company common stock in the amalgamation is tax free to PartnerRe shareholders, we offer deal closing certainty ahead of the upcoming renewal season, and the combined company will have a superior credit profile." AXIS Capital also highlighted that PartnerRe "continues to support the amalgamation agreement between the two companies," according to AXIS.
08:40 EDTPREPartnerRe says AXIS offer still 'superior' to new EXOR offer
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