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Harleysville Group Inc. Reports Third Quarter of $.76
Monday, November 1, 2010 - 4:12pm | 194Harleysville Group Inc. (NASDAQ: HGIC) today reported diluted operating income of $0.76 per share for the third quarter of 2010, compared to $0.83 per share in the third quarter of 2009. Catastrophe losses incurred during the third quarter of 2010 reduced operating income by $0.09 per share after...
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Harleysville Group Inc. Reports Third Quarter 2010 Results: EPS of $0.76
Monday, November 1, 2010 - 4:11pm | 142Harleysville Group Inc. (NASDAQ: HGIC) today reported diluted operating income of $0.76 per share for the third quarter of 2010, compared to $0.83 per share in the third quarter of 2009. Catastrophe losses incurred during the third quarter of 2010 reduced operating income by $0.09 per share after...
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AXIS Capital Reports Third Quarter EPS of $1.78
Monday, November 1, 2010 - 4:02pm | 135AXIS Capital Holdings Limited (NYSE: AXS) today reported net income available to common shareholders for the third quarter of 2010 of $239 million, or $1.78 per diluted common share, compared with a net loss of $96 million, or $0.70 per diluted common share, for the third quarter of 2009. Net...
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Priced Into the Market 11-01-2010
Monday, November 1, 2010 - 3:05pm | 988Cusick's Corner Over the weekend a customer asked me, “What do you mean that the Fed quantitative easing, earnings/economic data and the elections are already priced into the market?” I told him to take a look at a SPY chart (the ETF that tracks the S&P 500) and see how the market ran from 112...
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CNA Surety Jumping Higher (SUR)
Monday, November 1, 2010 - 1:53pm | 84CNA Surety Corporation (NYSE: SUR) is up 20% today on strong volume, after the company agreed to be acquired by CNA Financial (NYSE: CNA). The agreed upon price was $375 million in cash, which is a $22 per share offer. Shares are currently above the $22 offer, suggesting an alternative or raised...
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Wunderlich Securities Establishes Harleysville Group Buy Rating And $37 Price Target
Monday, November 1, 2010 - 10:15am | 111Harleysville Group (NASDAQ: HGIC) is expected to release 3Q10 results today, November 1, after the close, Wunderlich Securities reports. “We expect HGIC will report operating EPS declined 4% to $0.79 compared to $0.83 a year ago; consensus forecast is $0.78,” Wunderlich Securities writes. “We...
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Wunderlich Securities Anticipates An 18% Book Value Increase For AXIS Capital Holdings
Monday, November 1, 2010 - 9:57am | 112Wunderlich Securities reports that AXIS Capital Holdings Ltd. (NYSE: AXS) is expected to report results for 3Q10 today after the market close. “We estimate EPS of $1.04 for 3Q10 compared to $1.00 a year ago; the consensus estimate is $1.16,” Wunderlich Securities writes. “We believe AXS's...
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Ambac Financial May File For Bankruptcy If Deal Not Reached (ABK)
Monday, November 1, 2010 - 9:33am | 87Shares of Ambac Financial (NYSE: ABK) are trading sharply lower pre market down nearly 55% to 40c on concerns the company will not make their Nov 1 coupon payment. Technically Ambac has missed their payment though a grace period for the payment is 30 days following the November 1st deadline. If...
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CNA Surety Receives Proposal to Acquire Public Minority Stake
Monday, November 1, 2010 - 9:31am | 149CNA Surety Corporation (NYSE: SUR) announced today that it has received a proposal from CNA Financial Corporation (NYSE: CNA) to acquire all of the outstanding shares of common stock of CNA Surety that are not currently owned by subsidiaries of CNA for $22.00 per share in cash. CNA, through its...
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Albert Benchimol to Join AXIS Capital as CFO
Monday, November 1, 2010 - 8:55am | 52AXIS Capital Holdings Limited (NYSE: AXS) today announced that Albert Benchimol will join the Company as Chief Financial Officer on January 17, 2011. Mr. Benchimol will also join the Company's Executive Committee and report directly to John Charman, Chief Executive Officer and President of AXIS...
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Ambac Dropping Sharply (ABK)
Monday, November 1, 2010 - 8:48am | 94Ambac Financial Group, Inc. (NYSE: ABK) is dropping sharply in pre-market trading, as the company has said it missed its bond payment due today intentionally, and will most likely file Chapter 11, if it can not raised capital. The company is already in talks with its lenders about a prepackaged...
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Mercury General Corporation Announces Third Quarter EPS of $1.77
Monday, November 1, 2010 - 8:33am | 201Mercury General Corporation (NYSE: MCY) reported today for the third quarter of 2010: Net income in the third quarter 2010 was $96.8 million ($1.77 per diluted share) compared with net income of $157.7 million ($2.85 per diluted share) for the same period in 2009. For the nine months of 2010, net...
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CNA Financial Beats Earnings Estimates (CNA)
Monday, November 1, 2010 - 6:34am | 183CNA Financial Corporation (NYSE: CNA) on Monday morning released financial results that showed a smaller loss than Wall Street expected. CNA Financial Corporation reported a 3rd quarter net operating loss of $158 million, or 66 cents per share. A poll of analysts conducted by Thomson Reuters showed...
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Earnings Scheduled For November 1 (BHI, APC, AGN, PTV, GLW, HUM, VMC, NU, CNA, PFG, ED, L, ICE, SPG)
Monday, November 1, 2010 - 5:49am | 344Baker Hughes (NYSE: BHI) is expected to report its Q3 earnings at $0.47 per share on $3.81 billion in revenue. Anadarko (NYSE: APC) is estimated to report its Q3 EPS at $0.31 on $2.65 billion in revenue. Allergan (NYSE: AGN) is forecast to post its Q3 EPS at $0.78 on revenue of $1.18 billion....
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Mid-Day Market Movers (IIIIU, FMR, VVUS, MWW)
Friday, October 29, 2010 - 10:36am | 159Information Services Group Inc (NASDAQ: IIIIU) climbed 74.55% to $2.88 at 10:30 am. IIIIU is all set to report its Q3 results on November 9. First Mercury Financial Corporation (NYSE: FMR) jumped 43.57% to $16.31. Fairfax Financial Holdings Ltd has announced its plans to acquire FMR for $294...