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Stock Market & Financial Investment News

News Breaks
March 3, 2013
13:58 EDTHIGHartford's FY12 results now a loss after Q3 amendment
On Friday afternoon, Hartford Financial Services Group filed an amended Form 10-Q restating its Q3 results, resulting in a loss for the year instead of a profit, due to an accounting error related to a sale of its life-insurance operations. The amendment resulted in the company now posting a FY12 net loss of $38M and shareholders' equity of $22.4B compared with its previously reported net income last year of $35M and shareholders' equity of $22.8B. The company said its 2012 core earnings of $1.4B are unchanged. In addition, the company said it determined "there was a material weakness in its internal control over financial reporting at Sept. 30, which was remediated as of Dec. 31 and that the company’s previously filed financial statements for Q312 should no longer be relied upon."
News For HIG From The Last 14 Days
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October 28, 2014
19:40 EDTHIGHartford Financial management to meet with MKM Partners
Meeting to be held in Atlanta on November 3 hosted by MKM Partners.
09:20 EDTHIGHartford Financial CEO: 2015 shaping up positively
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09:11 EDTHIGHartford Financial sees Q4 adjusted EPS 85c-91c, consensus 92c
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October 27, 2014
17:47 EDTHIGHartford Financial extends pension buy-out to 13,500 vested participants
Hartford Financial disclosed in a regulatory filing that In September 2014, the company extended a limited time voluntary lump sum offer to approximately 13,500 vested participants in the U.S. qualified defined benefit pension plan who had separated from service, but who had not yet commenced annuity benefits. These participants have until November 2014 to elect to receive their benefit in a lump-sum payment, rather than as an annuity. The company will make the payments in December 2014 using assets from the U.S. qualified defined benefit pension plan. The funded status of the plan is not expected to be adversely impacted by this program. Depending on the acceptance rate of participants, the company may recognize a settlement charge to net income in Q414. If the acceptance rate is high enough to trigger a settlement charge, the likely high end of the range for a charge is approximately $140 after tax. The charge would be offset by a corresponding increase in accumulated other comprehensive income and therefore not impact total stockholders’ equity.
16:19 EDTHIGHartford Financial reports Q3 EPS 86c, consensus 83c
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15:34 EDTHIGNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Amgen (AMGN), consensus $2.11; General Growth Properties (GGP), consensus 31c; Avalonbay (AVB), consensus $2.00; Hartford Financial (HIG), consensus 83c; Universal Health Services (UHS), consensus $1.36; XL Group (XL), consensus 63c; Masco (MAS), consensus 32c; Plum Creek Timber (PCL), consensus 30c; T-Mobile US (TMUS), consensus 2c; Cliffs Natural (CLF), consensus (3c); Twitter (TWTR), consensus 1c; American Capital Agency (AGNC), consensus 73c; DDR Corp. (DDR), consensus 30c; PartnerRe (PRE), consensus $3.66; Owens & Minor (OMI), consensus 47c; Manitowoc (MTW), consensus 42c; Compass Minerals (CMP), consensus 78c; Allison Transmission (ALSN), consensus 30c; Regal Entertainment (RGC), consensus 17c.
07:28 EDTHIGMedical Group Management Association to hold a conference
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October 24, 2014
08:21 EDTHIGHartford Financial volatility elevated into Q3 and outlook
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