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Prudential Financial Inc

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  • US STOCKS-Wall St gains in choppy trading Thursday, 29 Jan 2015 | 2:18 PM ET

    *Alibaba shares tumble after results, Yahoo follows. NEW YORK, Jan 29- U.S. stocks were up in a volatile session on Thursday as oil futures pared their losses and strong job market data helped offset weak earnings reports from companies such as Alibaba and Qualcomm. Shares in Chinese internet giant Alibaba Group dropped 9 percent to $89.46 after revenue missed...

  • *Alibaba shares tumble after results, Yahoo follows. The decline took shares of Yahoo, which said earlier this week it will spin off its Alibaba stake, down 5.9 percent to $43.72. "Alibaba is growing more slowly than thought, and it's a stock a lot of people want to own," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

  • Stocks fade late as oil dips, Fed gives investors pause Wednesday, 28 Jan 2015 | 4:29 AM ET

    "The market is, on one hand, happy the Fed is saying things look solid, but it means at some point we will get that first rate hike," said Quincy Krosby, market strategist for Prudential Financial. Impressive earnings from Apple and Boeing made investors optimistic and lifted stocks early. The Energy Department reported that U.S. oil inventories rose to their highest...

  • Members of the Financial Stability Oversight Council voiced support for changes recommended in a staff report including notifying companies earlier in the process that they could be designated, a step that would give them more time to challenge the designation. The council did not take any final action but members including Treasury Secretary Jacob Lew...

  • NEW YORK, Jan 16- Next week may show whether U.S. stocks are finally undergoing a long-awaited correction or if a recent run of losses are just a bump on the road to more gains. This month, the benchmark index fell five sessions in a row, from Jan. 8 through Jan. 15, shedding more than 3 percent in the process. Oil prices have fallen in half in recent months, trading below $50 a...

  • WASHINGTON, Jan 13- MetLife Inc said it plans to sue U.S. regulators on Tuesday over a decision to subject the insurer to tougher oversight because it harbors enough risk to endanger the financial system in a crisis. "FSOC's designation of MetLife is premature," MetLife Chief Executive Officer Steve Kandarian said in a statement. "It is completely appropriate for...

  • WASHINGTON, Jan 13- MetLife said it would file on Tuesday a lawsuit against regulators subjecting it to tougher oversight, challenging their verdict the firm harbors enough risk to endanger the financial system in a crisis. The designation of MetLife as a so-called "systemically important" company would make insurance products more expensive without...

  • WASHINGTON, Jan 13- MetLife said it would file on Tuesday a lawsuit against regulators subjecting it to tougher oversight, challenging their verdict the firm harbors enough risk to bring down the financial system in a crisis. The designation of MetLife as a so-called "systemically important" company would make insurance products more expensive without...

  • NEW YORK, Dec 18- Investors have wrung their hands over the last several weeks over the effect of lower oil prices on the broader S&P 500, but the relationship between the two is actually starting to break down. "The proof is that oil turned down and the market said,' Oh, that was yesterday's news, today we're moving ahead,"' said Quincy Krosby, market strategist at...

  • WASHINGTON, Dec 18- U.S. regulators have declared insurer MetLife Inc so big that its failure could destabilize financial markets, a designation that brings extra regulation. MetLife said in a statement on Thursday announcing the designation that it was disappointed by the decision, made by the U.S. Financial Stability Oversight Council, and was considering...

  • *Buyback, dividend hike, guidance lift Boeing, 3 M, CVS. NEW YORK, Dec 16- U.S. stocks rose in a volatile Tuesday session as energy shares rallied and investors bet the Federal Reserve will be cautious in removing support in the face of a more fragile global economy. "Perhaps markets think the Fed will not be as on-schedule on taking out that language," said Quincy Krosby,...

  • NEW YORK, Dec 16- U.S. stocks rose in a volatile Tuesday session as energy shares rallied, and on bets the Federal Reserve will be cautious in removing support in the face of a more fragile global economy. Adding to global concerns, data showed factory activity shrinking in China and euro zone business growth remaining weak. "Perhaps markets think the Fed will not be...

  • UPDATE 1-Jefferies in talks to sell futures business Tuesday, 16 Dec 2014 | 9:33 AM ET

    Dec 16- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, reported a quarterly net loss and said it was in talks to sell its futures brokerage. Jefferies bought the business, formerly known as Prudential Bache, from Prudential Financial Inc in 2011 for $430 million to expand into a full-fledged investment bank. Leucadia, which models itself on...

  • The slide came the day after oil cartel OPEC decided not to cut output in a meeting in Vienna. "We do not know if OPEC has ulterior motives to let oil prices drift lower and pinch the global sector, or if reaching a consensus on cuts was just too challenging," wrote Wells Fargo Securities in a Friday client note. "We'll wait to see the trend next week when there's full...

  • Nov 6- Genworth Financial Inc lost more than a third of its market value after the life and mortgage insurer said a turnaround in its long-term care business would take longer than expected and posted a surprise quarterly loss. Shares of Genworth, the largest long-term care insurer in the United States, fell as much as 38 percent, wiping out about $2.7 billion of...

  • Nov 6- Life and mortgage insurer Genworth Financial Inc said it would suspend dividends in its life business until the end of next year, and that it was open to all strategic options. Genworth shares fell as much as 38 percent on Thursday, wiping out about $2.7 billion of the company's market value. Genworth, spun off from General Electric Co a decade ago, had years ago...

  • Nov 5- Prudential Financial Inc, the second-largest U.S. life insurer, reported a quarterly profit that fell short of market estimates by a wide margin, mainly due to losses tied to its derivatives program. The company reported operating earnings on an adjusted basis of $2.20 per share, well below the average analyst estimate of $2.41 per share.

  • After-hours buzz: Qualcomm, Tesla, Zillow & more Wednesday, 5 Nov 2014 | 4:56 PM ET

    Companies making headlines after the bell Wednesday: Qualcomm, Tesla, Zillow & more

  • Nov 5- Prudential Financial Inc, the second-largest U.S. life insurer, reported a 52 percent fall in quarterly profit, hurt by lower operating income from individual annuities and U.S. life insurance. The net profit in the financial services businesses attributable to the company was $465 million, or 99 cents per share, for the quarter ended Sept. 30, from $966...

  • WASHINGTON, Nov 5- The U.S. Wednesday's rule applies to banks and to large financial firms who are designated as "systemic" by the Financial Stability Oversight Council, a federal government panel of regulators that polices for emerging market threats. The FSOC has already designated General Electric Co's GE Capital, American International Group Inc and...