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Stock Market & Financial Investment News

News Breaks
December 19, 2012
10:01 EDTAWH, AXS, ENH, MRH, PTP, VR, ALTE, MKLAlterra up after deal, analyst positive on Bermuda peers
Insurance company Alterra (ALTE) is rallying after Markel Corporation (MKL), a financial holding company, agreed to buy Alterra for $31 per share in cash and stock, or $3.13B. Each Alterra share will be exchanged for $10 and 0.04315 Markel shares, the companies said. In a note to investors earlier today, Wells Fargo analyst John Hall wrote that the acquisition of Alterra, which is based in Bermuda, should boost the share prices of other Bermuda based companies that are trading significantly below their book values. Allied World (AWH), AXIS Capital (AXS), Endurance Specialty (ENH), Montpelier Re (MRH), Platinum Underwriters (PTP), and Validus (VR) are examples of such companies, the analyst wrote. In early trading, Alterra surged 24.02% to $28.71, Allied World rose 1.89% to $80.15, Endurance Specialty gained 3.01% to $40.69, Montpelier Re added 1.97% to $22.78, Platinum Underwriters climbed 4.16% to $47.06, and Validus increased 1.54% to $34.85.
News For AWH;AXS;ENH;MRH;PTP;VR;ALTE;MKL From The Last 14 Days
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July 31, 2014
08:39 EDTAXSAXIS Capital upgraded at BMO Capital
As noted earlier, BMO Capital upgraded AXIS Capital to Market Perform from Underperform. The firm upgraded the stock based on valuation. Target to $46 from $44.
06:26 EDTAXSAXIS Capital upgraded to Market Perform from Underperform at BMO Capital
July 30, 2014
18:49 EDTENHAspen Insurance CEO comments on withdrawal of Endurance Specialty offer
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16:56 EDTENHEndurance Specialty requests withdrawal of registration statement
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16:19 EDTENHEndurance Specialty terminates offer to acquire Aspen Insurance
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16:18 EDTENHEndurance Specialty terminates offer to acquire Aspen Insurance
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16:06 EDTMRHMontpelier Re increases quarterly dividend 60%
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12:30 EDTVRValidus files automatic mixed securities shelf
08:41 EDTAXSAXIS Capital weakness creates attractive entry point, says JMP Securities
After AXIS reported higher than expected Q2 operating EPS, JMP Securities thinks investors should be pleased with the stability of the results. The firm believes that the company's efforts to re-focus the book need more time to play out, and it reiterates an Outperform rating on the shares.
July 29, 2014
16:46 EDTAXSAXIS Capital reports Q2 book value per common share of $49.69
Reports diluted book value per common share of $49.69, a 5% increase during the quarter and a 16% increase over the last 12 months.
16:45 EDTAXSAXIS Capital reports Q2 non-GAAP EPS $1.63, consensus $1.20
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July 28, 2014
16:13 EDTMRHMontpelier Re reports Q2 EPS 76c, consensus 99c
Reports fully converted book value per share of $31.74, a 2.8% increase from March 31. Net premiums written in the second quarter were flat year-over-year, when adjusting for reinstatements, with increased writings within the company’s Montpelier at Lloyd’s and Collateralized Reinsurance segments, offsetting a decrease in writings at Montpelier Bermuda. The loss ratio for the quarter was 41%, which includes $24M of net losses from known catastrophe events in the quarter, offset by $38M of favorable prior year loss reserve movements. The combined ratio was 77% for the quarter. Net investment income was $12M for the quarter, and the total return on the investment portfolio was 0.9%.
13:47 EDTENHEndurance seen dropping Aspen bid by 'most' observers, Insurance Insider says
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July 25, 2014
18:56 EDTENHAspen Insurance holders overwhelmingly reject Endurance authorization proposals
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July 24, 2014
16:39 EDTVRValidus reports Q2 EPS $1.61, consensus $1.48
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July 23, 2014
16:51 EDTMKLMarkel announces acquisition of Cottrell
Markel Ventures announced the acquisition of a majority interest in Cottrell, Inc. and affiliated entities. Headquartered in Gainesville, Georgia, Cottrell is a global leader in the design, manufacture and delivery of over-the-road automobile transport equipment. Terms of the transaction were not disclosed.
16:38 EDTAWHAllied World reports Q2 operating EPS 76c, consensus 86c
Reports Q2 revenue $659.26M ,consensus $564.82M.
July 21, 2014
07:01 EDTENHAspen issues letter urging investors to reject Endurance proposals
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July 18, 2014
10:03 EDTPTPOn The Fly: Analyst Downgrade Summary
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06:07 EDTPTPPlatinum Underwriters downgraded to Market Perform at Keefe Bruyette
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