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Markel Announces $200M Share Repurchase Authorization
Wednesday, December 1, 2010 - 10:19am | 31Markel Corporation (NYSE: MKL) announced today that its board of directors has authorized a new share repurchase program covering purchases up to $200 million.
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Benzinga's Top Pre-Market NASDAQ Gainers (MIGP, OVTI, SODA, MPEL)
Wednesday, December 1, 2010 - 9:37am | 142Mercer Insurance Group Inc (NASDAQ: MIGP) rose 47.88% to $27.89 in the pre-market session. United Fire & Casualty Company (NASDAQ: UFCS) has announced its plans to purchase MIGP for $28.25 per share in cash. OmniVision Technologies Inc (NASDAQ: OVTI) added 7.28% to $30.35 in pre-market trading...
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A Peek Into The Market Before The Trading Starts
Wednesday, December 1, 2010 - 9:09am | 482Pre-open movers US stock index futures are higher, after better-than-expected factory production data from China. Futures on the Dow Jones Industrial Average gained 107 points to 11,103, while S&P 500 futures rose 13.60 points to 1,193. Nasdaq 100 futures advanced 21 points to 2,138. A Peek...
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RLI Declares Special Dividend of $7.00
Wednesday, December 1, 2010 - 8:29am | 44RLI Corp. (NYSE: RLI) Board of Directors has declared an extraordinary cash dividend of $7.00 per share. The dividend is payable on December 29, 2010 to shareholders of record as of December 16, 2010 and is expected to total approximately $147 million.
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Company News for December 1, 2010 - Corporate Summary
Wednesday, December 1, 2010 - 5:07am | 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)...
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ProAssurance Completes Acquisition of APS for $32.50
Tuesday, November 30, 2010 - 5:07pm | 82ProAssurance Corporation (NYSE: PRA) today announced the completion of its previously announced acquisition of American Physicians Service Group, Inc. (Nasdaq: AMPH). APS shareholders overwhelmingly approved the transaction at a special meeting on November 29, 2010. Under the terms of the merger,...
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The Travelers Remains Undervalued
Monday, November 29, 2010 - 12:30pm | 135The view in August argued that The Travelers (NYSE: TRV), which I first wrote about on April 24, 2009, at a price of $30.50, was undervalued. That proved to be on the mark, as the stock rose out of a base near $50 to trade above $57 this fall. However, the good news is that The Travelers pulled...
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Options Brief: MBIA Inc. (MBI)
Monday, November 29, 2010 - 11:19am | 82Shares of MBIA Inc. (NYSE: MBI) are lower on the session by 2.79%, currently trading at $10.12. Call volume is now running at 2.48x the daily average, with 0% of all calls traded being purchases on the offer. 14,399 call contracts have traded so far during the session. MBIA Inc., together with its...
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Markel CEO Possibly Absent in December and January
Monday, November 29, 2010 - 10:27am | 39Markel Corporation (NYSE: MKL) announced today that Chairman and Chief Executive Officer Alan Kirshner may be absent from the corporation's offices for most of December and January while receiving medical treatments.
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Merger Arbitrage Mondays – November 29, 2010
Monday, November 29, 2010 - 1:35am | 4787Merger activity decreased last week with four new deals being announced and six deals closing. You can find all the deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours. Deal Statistics: Total Number of Deals Closed in 2010 115 Total Number of...
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Lockheed Sells EIG Business - Analyst Blog
Friday, November 26, 2010 - 11:30am | 537Lockheed Martin Corporation (LMT) has successfully sold off its Enterprise Integration Group (EIG) business to Veritas Capital. The company received $815 million in cash for the sale, which was announced on June 2, 2010. Lockheed's decision to dispose EIG was based on the U.S. Government's...
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Lockheed Sells EIG Business - Analyst Blog
Friday, November 26, 2010 - 6:02am | 537Lockheed Martin Corporation (LMT) has successfully sold off its Enterprise Integration Group (EIG) business to Veritas Capital. The company received $815 million in cash for the sale, which was announced on June 2, 2010. Lockheed's decision to dispose EIG was based on the U.S. Government's...
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Montpelier Upgraded to Outperform - Analyst Blog
Wednesday, November 24, 2010 - 9:30am | 516We are upgrading our recommendation on the shares of Montpelier Re Holdings (MRH) to Outperform following favorable third quarter earnings, which were well ahead of the Zacks Consensus Estimate, driven by higher premiums written coupled with lower share count. Montpelier is experiencing growth...
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Montpelier Upgraded to Outperform - Analyst Blog
Wednesday, November 24, 2010 - 3:49am | 516We are upgrading our recommendation on the shares of Montpelier Re Holdings (MRH) to Outperform following favorable third quarter earnings, which were well ahead of the Zacks Consensus Estimate, driven by higher premiums written coupled with lower share count. Montpelier is experiencing growth...
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Lockheed Martin Completes $815 Million EIG Divestiture
Tuesday, November 23, 2010 - 9:09am | 42Lockheed Martin Corporation (NYSE: LMT) today announced that it has completed the divestiture of its Enterprise Integration Group (EIG) business to Veritas Capital for $815 million in cash.