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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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February 2, 2016
20:04 EDTNATLNational Interstate sees FY15 operating EPS $1.13-$1.18, consensus $1.41
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20:03 EDTNATLNational Interstate sees Q4 operating EPS 10c-15c, consensus 38c
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16:32 EDTRNRRenaissanceRe reports Q4 operating EPS $3.07, consensus $2.71
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16:24 EDTVRValidus increases dividend 9.4% to 35c
Validus Holdings announced that its Board of Directors has increased its quarterly dividend to 35c per common share from 32c, an increase of 3c or 9.4%. The dividend is payable on March 31 to shareholders of record on March 15.
16:20 EDTAXSAXIS Capital reports Q4 operating EPS $1.23, consensus $1.13
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07:24 EDTALLAllstate volatility elevated into Q4 and outlook
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February 1, 2016
19:09 EDTAFLOn The Fly: After Hours Movers
UP AFTER EARNINGS: Alphabet (GOOG, GOOGL), up 5.2% and 4.7%, respectively... Mattel (MAT), up 5.6%... Anadarko Petroleum (APC), up 4%... AFLAC (AFL), up 1.5%. ALSO HIGHER: PVH Corp. (PVH), up 8.1% after giving guidance for fiscal 2015 and entering a license agreement with G-III Apparel (GIII) for Tommy Hilfiger womenswear collections. DOWN AFTER EARNINGS: Integrated Device (IDTI), down 15.8%... Rent-A-Center (RCII), down 9.6%. ALSO LOWER: Pixelworks (PXLW), down 5.7% after giving fourth quarter guidance and announcing the resignation of its CEO... PDL BioPharma (PDLI), down 14.3% after cutting its quarterly dividend to 5c per share from 15c per share.
16:35 EDTAFLAflac reports Q4 Japan adjusted net premium income up 1.6%
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16:33 EDTAFLAflac sees FY16 operating EPS $6.17-$6.41, consensus $6.32
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16:27 EDTAFLAflac reports Q4 adjusted EPS $1.56, consensus $1.47
Reports Q4 revenue $5.32B, consensus $5.21B.
14:32 EDTAFLNotable companies reporting after market close
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10:11 EDTAFLAflac technical comments before earnings news
The key level on the downside for the shares is at the $55 area. This has held quite consistently as support since late 2013. A breakdown below $55 on bearish news would resolve the range bearishly. Next supports below would be at $53.20 and then at the 52-week low at $51.41. If the news is a positive surprise, resistance levels to watch as potential upside objectives would be at $58.54, $60.18, and $61.49.
09:04 EDTMETMetLife originated $3.2B in agricultural loans in 2015
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January 28, 2016
16:35 EDTVRValidus reports Q4 adjusted EPS $1.24, consensus $1.22
Reports Q4 gross premiums written $309.6M, down from $336.6M. Reports tangible book value per diluted common share $38.63, up from $36.19. Reports combined ratio 78.3%, up from 75.6%. Reports no notable, non-notable loss events during quarter.
January 27, 2016
06:59 EDTTRVAIG goals look too optimistic, says Deutsche Bank
Deutsche Bank analyst Joshua Shanker says that if AIG (AIG) hits its stated goal of 600 basis point reduction in Commercial P&C loss ratio through 2017, its core loss ratio would be better than both Travelers (TRV) and the new Chubb (CB). Shanker views the goal as too optimistic and is not modeling for it entirely in his model. He keeps a Hold rating on AIG with a $60 price target.
January 26, 2016
09:04 EDTMETMetLife says commercial real estate lending topped $14B in 2015
MetLife said that it originated, through its real estate investment group, approximately $14.3B globally in commercial real estate loans in 2015, an 18% increase over the $12.1B originated in the previous year. MetLife also committed to invest approximately $1B in real estate equity in 2015, either through direct acquisition or as part of joint venture partnerships.
January 25, 2016
09:31 EDTAFLAflac upgraded to Buy from Hold at Sandler O'Neill
Sandler O'Neill upgraded Aflac to Buy and said its a high quality name in an uncertain environment.
January 24, 2016
11:02 EDTTRVStocks post weekly gain after oil rebounds
Stocks recovered late in the week to post their first weekly gain of the new year as equities continue to be correlated closely with the oil market. A plunge in oil led equities lower early in the holiday shortened week, but as oil prices rebounded to close the week out, the major averages followed suit. MACRO NEWS: In the U.S., the consumer price index fell 0.1% during December, versus expectations for a flat reading. The core reading, which excludes food and energy, showed prices rose 0.1% from the prior month, versus expectations for an increase of 0.2%. Initial jobless claims rose to 293,000 last week, topping the expectation for 278,000 first-time claims. Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast... In Asia, China's national bureau of statistics estimated that GDP growth slowed to 6.8% in the last quarter of the year, dipping from 6.9% growth in the previous quarter. China's industrial output rose 5.9% from a year earlier in December, compared with the consensus forecast for a 6% increase. Japan's Nikkei average was down early in the week, even falling into bear market territory, but rallied nearly 6% on Friday after the Nikkei Asian Review said that the Bank of Japan is taking a "serious look" at additional easing... In Europe, the European Central Bank left its key interest rates unchanged. However, at an associated press conference, ECB President Mario Draghi acknowledged downside risks were increasing again, meaning the bank may need to "review and possibly reconsider" its monetary policy stance at its next meeting in March. Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. The International Monetary Fund cut its global growth forecasts for the third time in less than a year. The IMF now estimates that the world economy will grow 3.4% this year and 3.6% next year, down from its prior forecasts of 3.6% and 3.8% growth, respectively. COMPANY NEWS: On Tuesday, Morgan Stanley (MS) advanced 1% after its earnings and revenue topped analysts' consensus forecast. Big bank peer Bank of America (BAC) slid 1% after its earnings also beat expectations but its revenue narrowly missed the consensus estimate... On Wednesday, IBM (IBM) slid nearly 5% after reporting better than expected earnings and revenue for the fourth quarter, but forecasting below-consensus profits for the new year... On Thursday, Verizon (VZ) was among the best performers on the Dow, advancing over 3% after its earnings, revenue and wireless subscriber additions all topped expectations. Conversely, fellow Dow member Travelers (TRV) slid almost 1% after releasing its own quarterly results... On Friday, American Express (AXP) sunk more than 12% after the card issuer reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors. Fellow Dow member GE (GE) slid a bit more than 1% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) shares gained 6% after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs... Netflix (NFLX) reported fourth quarter earnings that beat analyst estimates, powered by better than expected international subscriber growth. The numbers were met with positive commentary by several research firms, though decelerating U.S. subscriber growth was highlighted by bears as a warning sign for the company... Deutsche Bank (DB) disclosed that it expects a EUR2.1B net loss for the quarter due to a number of charges, including expected litigation costs of EUR1.2B... Xilinx (XLNX) advanced after reporting its third quarter numbers. The news may have been overshadowed, however, by a regulatory filing showing new agreements with its top executives, with several analysts highlighting that the change could signal a takeover is in the cards in the future... Alkermes (ALKS) plunged more than 44% after disclosing that two of three Phase 3 studies of its experimental depression disorder treatment did not meet their primary efficacy endpoints. INDEXES: For the four-day week, the Dow gained about 0.67% to close at 16,093.51, the S&P 500 rose about 1.4% to close at 1,906.90, and the Nasdaq increased about 2.3% to close at 4,591.18.
January 22, 2016
09:29 EDTMETOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ABB (ABB) upgraded to Neutral from Sell at UBS... ACADIA (ACAD) upgraded to Overweight from Neutral at Piper Jaffray... ASML (ASML) upgraded to Hold from Sell at Deutsche Bank... Alaska Air (ALK) upgraded to Buy from Hold at Deutsche Bank... Arrow Electronics (ARW) upgraded to Buy from Neutral at Longbow... Avnet (AVT) upgraded to Buy from Neutral at Longbow... Avon Products (AVP) upgraded to Overweight from Neutral at Piper Jaffray... BankUnited (BKU) upgraded to Buy from Hold at Sandler O'Neill... Barclays (BCS) upgraded to Hold from Sell at Berenberg... Bristol-Myers (BMY) upgraded to Buy from Hold at Berenberg... CA Technologies (CA) upgraded to Buy from Neutral at Mizuho... CaixaBank (CAIXY) upgraded to Buy from Neutral at Nomura... Canadian Pacific (CP) upgraded to Outperform from Sector Perform at RBC Capital... Cardinal Financial (CFNL) upgraded to Outperform from Market Perform at Keefe Bruyette... Columbia Sportswear (COLM) upgraded to Outperform at Baird... Dr Pepper Snapple (DPS) upgraded to Outperform from Underperform at CLSA... Gorman-Rupp (GRC) upgraded to Outperform from Neutral at Boenning & Scattergood... Independent Bank (INDB) upgraded to Buy from Neutral at Compass Point... JD.com (JD) upgraded to Buy from Neutral at Nomura... KeyCorp (KEY) upgraded to Overweight from Equal Weight at Stephens... Lincoln National (LNC) upgraded to Strong Buy from Outperform at Raymond James... Masco (MAS) upgraded to Outperform at Baird... MetLife (MET) upgraded to Strong Buy from Market Perform at Raymond James... Northern Trust (NTRS) upgraded to Buy from Hold at Sandler O'Neill... Pacific Continental (PCBK) upgraded to Outperform at Keefe Bruyette... Qualcomm (QCOM) upgraded to Outperform from Market Perform at Northland... SL Green Realty (SLG) upgraded to Buy from Neutral at SunTrust... SVB Financial (SIVB) upgraded to Overweight from Neutral at Piper Jaffray... SunPower (SPWR) upgraded to Overweight from Equal Weight at Barclays... WEX Inc. (WEX) upgraded to Outperform from Market Perform at Wells Fargo.
06:26 EDTMETMetLife upgraded to Strong Buy from Market Perform at Raymond James
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