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PowerShares Introduces Four KBW Financial ETFs
Monday, December 6, 2010 - 3:00pm | 859PowerShares introduced four new ETFs based on KBW financial industry indexes on 12/02/2010. This marks the first time that PowerShares and KBW (Keefe, Bruyette & Woods) have teamed up in the ETF space. Seven other ETFs based on different KBW indexes are currently on the market under the SPDR...
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NASDAQ Stocks Hitting 52-Week Highs (ALSK, AGII, DAKT, JJSF)
Monday, December 6, 2010 - 12:47pm | 150Alaska Communications Systems (NASDAQ: ALSK) shares reached $10.86 to create a new 52-week high, before falling to $10.84, representing a 0.46% gain. ALSK's Chief Operating Officer Anand Vadapalli has been named as the new president and CEO. Argo Group International Holdings Ltd (NASDAQ: AGII)...
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Options Brief: Assured Guaranty Ltd. (AGO)
Friday, December 3, 2010 - 11:50am | 85Shares of Assured Guaranty Ltd. (NYSE: AGO) are higher on the session by 3.47%, trading at $18.21. Overall call volume is now running at 2.99x the daily average, with 57% of all calls traded being purchases on the offer. 9,083 contracts have traded on the session so far. Assured Guaranty Ltd. is a...
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Rating Actions on Travelers - Analyst Blog
Thursday, December 2, 2010 - 5:30pm | 611The financial strength ratings (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of Travelers Auto Insurance Co. of New Jersey and Travelers of New Jersey Group, wholly owned subsidiaries of The Travelers Companies Inc. (TRV), have been withdrawn by A.M. Best Co. The rating agency has...
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Selective Senior Executive VP Richard F. Connell to Retire
Thursday, December 2, 2010 - 5:26pm | 51Selective Insurance Group, Inc. (Nasdaq: SIGI) today announced the retirement of Richard F. Connell, senior executive vice president and chief administrative officer. Mr. Connell joined Selective in 2000 as executive vice president and chief information officer. He was promoted to his current...
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Rating Actions on Travelers - Analyst Blog
Thursday, December 2, 2010 - 12:11pm | 611The financial strength ratings (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of Travelers Auto Insurance Co. of New Jersey and Travelers of New Jersey Group, wholly owned subsidiaries of The Travelers Companies Inc. (TRV), have been withdrawn by A.M. Best Co. The rating agency has...
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Options Brief: ACE Limited (ACE)
Thursday, December 2, 2010 - 11:14am | 86Shares of ACE Limited (NYSE: ACE) are higher on the session by 1.06%, trading at $60.11. Overall call volume is now running at 5.44x the daily average, with 89% of all calls traded being purchases on the offer. 1,546 contracts have traded on the session so far. ACE Limited is a holding company of...
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Oppenheimer Updates Estimates of RLI Corp (RLI)
Thursday, December 2, 2010 - 10:48am | 32Oppenheimer reduced their estimates of RLI Corporation (NYSE: RLI) due to lower expected investment income and revised their 2010 and 2011 EPS estimates to $4.60 and $3.70, respectively.
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American Physicians is Acquired - Analyst Blog
Wednesday, December 1, 2010 - 7:00pm | 460Medical professional liability insurer American Physicians Service Group Inc. (AMPH) has been acquired by ProAssurance Corporation (PRA), as announced earlier. Per the agreement, the shareholders of American Physicians will receive $32.50 per share in cash from the acquirer. Excluding one-time...
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RLI Corp. Forms New Service Group - Analyst Blog
Wednesday, December 1, 2010 - 6:04pm | 539RLI Corp. (RLI) announced the merger of three of its existing products -- design professionals, technology professionals, and target professionals -- to form a new unit named the Professional Services Group. The Professional Services Group will be led by L. Lenny Waldhauser. This group will...
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American Physicians is Acquired - Analyst Blog
Wednesday, December 1, 2010 - 1:15pm | 460Medical professional liability insurer American Physicians Service Group Inc. (AMPH) has been acquired by ProAssurance Corporation (PRA), as announced earlier. Per the agreement, the shareholders of American Physicians will receive $32.50 per share in cash from the acquirer. Excluding one-time...
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RLI Corp. Forms New Service Group - Analyst Blog
Wednesday, December 1, 2010 - 12:42pm | 539RLI Corp. (RLI) announced the merger of three of its existing products -- design professionals, technology professionals, and target professionals -- to form a new unit named the Professional Services Group. The Professional Services Group will be led by L. Lenny Waldhauser. This group will...
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Morning Market Movers (MIGP, LTON, TSRID, ALRN)
Wednesday, December 1, 2010 - 11:21am | 125Mercer Insurance Group Inc (NASDAQ: MIGP) shares surged 47.77% to $27.87 by 10:00 am. United Fire & Casualty Company (NASDAQ: UFCS) announced its plans to buy all the outstanding shares of MIGP for $28.25 per share in cash, representing a 49.8% premium to MIGP's closing price on November 30....
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News Summary
Wednesday, December 1, 2010 - 10:40am | 149Crude oil futures gained, along with gold futures, after US private-sector employment increased 93,000 in November. Crude oil for January delivery moved up 1.6% to $85.47 per barrel. However, Gold for January delivery rose 0.3% to $1,390 an ounce. Carrefour SA (OTC: CRERY) reduced its projections...
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Company News for December 1, 2010 - Corporate Summary
Wednesday, December 1, 2010 - 10:30am | 802• State Street (NYSE: STT) said it will lay off 1,400 jobs, or 5% of its workforce • RLI (NYSE: RLI) said it will pay a $7.00 per share special dividend • Bank of America (NYSE: BAC) initiated coverage of Dendreon (NASDAQ: DNDN) with a "buy" rating and a price target of $44 • Jefferies (NYSE: JEF)...