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Stock Market & Financial Investment News

News Breaks
February 13, 2013
05:55 EDTNATL, NATL, TRV, TRV, Y, Y, VR, VR, AHL, AHL, AFL, AFL, XL, XL, AXS, AXS, PL, PL, RNR, RNR, MET, MET, ALL, ALLBofA/Merrill to host a conference
2013 Insurance Conference is being held in New York on February 13-14.
News For NATL;MET;RNR;PL;AXS;XL;AFL;AHL;VR;Y;TRV;ALL From The Last 14 Days
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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.
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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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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October 14, 2014
08:04 EDTMETDeutsche sees favorable risk/rewards in Insurance space
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October 10, 2014
16:37 EDTALLAllstate files to sell $25M of market value adjusted annuity contracts
October 9, 2014
08:34 EDTMETMetLife, Panattoni to develop three new industrial parks for nearly $63M
MetLife will develop three new industrial distribution parks for nearly $63M in the Seattle area with the Panattoni Development Company, a privately held, national developer based in Newport Beach, Calif. The greenfield sites will add more than 900,000 square feet of high-quality warehouse space in the Seattle region. MetLife will be the majority owner and Panattoni will be the managing minority partner. The largest of the projects is the Des Moines Creek Business Park, which will comprise three buildings totaling 535,830 square feet on a 37-acre site. Construction of the three greenfield warehouse sites will create a total of 600 jobs. Construction is expected to be completed by mid-2015 for Steele and Tamarack, and by the end of 2015 for Des Moines.
October 8, 2014
05:16 EDTYTransRe, Shanghai Insurance Association, Shanghai Insurance Institute sign MOU
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