Companies making headlines after the bell Thursday.» Read More
Jan 30- Property and casualty insurer Chubb Corp reported a better-than-expected quarterly profit as its claims fell 30 percent and announced a $1.5 billion share buyback. Chubb's net profit rose more than five-fold to $569 million, or $2.24 per share, in the fourth quarter ended Dec. 31, from $102 million, or 38 cents per share, a year earlier.
Jan 30- Property and casualty insurer Chubb Corp reported a more than five-fold rise in quarterly profit as the company paid lower claims. The company's net income rose to $569 million, or $2.24 per share, in the fourth quarter ended Dec. 31, from $102 million, or 38 cents per share, a year earlier. Net earned premium rose 4 percent to $3.04 billion.
*Fourth-quarter operating earnings $2.68/ share vs est $2.16. *After-tax catastrophe losses $37 mln vs $689 mln a year earlier. Jan 21- U.S. insurer Travelers Cos Inc's slowing pace of price hikes raised concerns about its margins and overshadowed a three-fold rise in quarterly profit, sending its shares down as much as 3 percent.
Oct 24- Property and casualty insurer Chubb Corp raised its earnings forecast for the full year after reporting a better-than-expected rise in quarterly profit, underpinned by higher rates and strong underwriting across all its businesses. Chubb raised its earnings forecast to $7.90- $8.00 per share from $7.30- $7.50.
Wary of rising rates, stock traders will keep an eye on the bond market Thursday as another wave of earnings reports roll in.
Major flooding hit Colorado, Virginia and Pennsylvania in the U.S. yesterday, and China saw its worst flooding in 50 years in the southwestern part of the country.
Traders will be listening for clues about possible tapering off of quantitative easing when two Fed presidents speak later on Tuesday.
Check out which companies are making headlines after the bell Thursday:
It's make-or-break time for the first-quarter earnings season, and it comes just as the stock market is showing signs of strain.
Earnings season is shifting into high gear in the final week of January, with six Dow Jones components, and more than a fifth of the S&P 500 companies reporting.
TheStreet.com details brief earnings previews for five major property and casualty insurers.
For now, insurance companies will continue to increase their cash reserves and invest some of that money into stock buybacks, dividend increases and acquisitions. That will keep it one of the most sought-after sectors by investors. TheStreet.com reports.
Companies such as environmental cleanup specialist Clean Harbors Inc, building supply chains Home Depot Inc and Lowe's Cos Inc, building products makers Owens Corning and Beacon Roofing Supply Inc, and generator manufacturer Generac Holdings Inc surged in early trading on the assumption that the recovery from Sandy will take years and boost sales.
NEW YORK, Oct 31- The first piece of post-storm advice after a major weather event like Sandy is always to call your insurance company. But what if your phone isn't working or you don't have Internet service? State Farm says as of Tuesday evening, it had logged 6,000 homeowners policy claims, and 900 car claims.
Companies like environmental cleanup specialist Clean Harbors, building supply chains Home Depot and Lowe's, building products makers Owens Corning and Beacon Roofing and generator manufacturer Generac Holdings surged in early trading on the assumption that the recovery from Sandy will take years and boost sales.
Companies like environmental cleanup specialist Clean Harbors, building supply chains Home Depot and Lowe's, building products makers Owens Corning and Beacon Roofing and generator manufacturer Generac Holdings surged in early trading, on the assumption that the recovery from Sandy will take years and boost sales.
LONDON, Oct 30- Investors who have put their money into specialist financial bonds which cover insurance companies from huge natural disasters are unlikely to be hit with big losses from monster storm Sandy even though it is one of the biggest ever to hit the United States.
Travelers is the third-largest insurer in New York for both personal home and auto and commercial lines of insurance, and the second-largest in Connecticut. Weather is unlikely to interfere with claims processing, a spokesman said, even though the company is headquartered in New Jersey, Chubb has a major center in Arizona that can handle claims as needed.
NEW YORK, Oct 27- Hurricane Sandy is charging up the East Coast as a cold front is tearing across the U.S. from the west and an arctic blast is barreling down from the north. Valerie Dziengiel isn't worried one bit.
WARREN, N.J.-- Property and casualty insurer Chubb's third-quarter net income more than doubled, benefiting from fewer losses from catastrophes, rate increases and a strong underwriting performance. Chubb reported $17 million in catastrophe losses during the quarter.