UPDATE: Allstate Swings To Q2 Loss

Allstate Corp ALL swung to a second quarter loss on Monday. Allstate reported a quarterly loss of $642 million, or $1.19 per share, versus a profit of $441 million, or $0.27 per share, in the year-earlier period. Its catastrophe losses surged to $2.34 billion, from $96.8 billion, in the year-earlier period. Allstate's revenue climbed 5% y/y to $8.08 billion, from $7.66 billion. However, analysts were expecting a loss of $1.46 per share on revenue of $6.63 billion. Allstate shares gained 0.11% to close at $27.72 on Friday.