Market Currents

• Tuesday, November 17, 2009

• 18:20 PM Allstate (ALL) doesn't want to pay a lot for acquisitions, but targets "are cheaper today than they were three years ago, so we are always looking," says CEO Thomas Wilson. The insurer hasn't made an acquisition since buying GE's (GE) Partnership Marketing Group, and was rumored to be considering RBOS' (RBS) insurance units last year. 1 Comment

• Wednesday, November 4, 2009

• 16:28 PM Allstate (ALL): Q3 EPS of $0.99 misses by $0.02. Revenue of $7.6B (+4%) vs. $8.5B. (8-K) 1 Comment
• 00:10 AM Notable postmarket earnings: ALL, CSCO, CXW, DOX, EGLE, ESLR, GDP, GG, HCN, IO, MCHP, MUR, NWS, ONNN, PRU, QCOM, SHO, SVNT, THQI, WFMI 1 Comment

• Friday, September 11, 2009

• 09:52 AM Pricing in personal auto insurance "appears to be on the cusp of increasing," Goldman says, lifting shares of Progressive (PGR +1.3%) to Buy from Sell. "As rates harden, Progressive should benefit from both rate and volume increases." But firm downgrades Allstate (ALL -2%) to Sell, saying it could continue to shed market share in auto. 1 Comment

• Wednesday, August 5, 2009

• 16:26 PM Allstate (ALL): Q2 EPS of $0.72 misses by $0.40. Revenue of $8.5B (+15%) vs. $8.2B. Shares -3.5% AH. (PR) Comment!
• 00:10 AM Notable earnings after Wednesday's close: ACF, ALL, ATVI, ATW, BEAT, BEXP, BGC, CECO, CSCO, CTB, CXW, EGLE, GLBL, GXP, HCN, IO, KEG, MBI, MUR, NHP, NWS.A, OEH, ONNN, PRU, REG, RWT, SCI, SHO, SUN, TS, VRTX Comment!

• Sunday, June 7, 2009

• 03:56 AM Insurance giant Allstate (ALL) was hit hard by the credit crisis but appears to be making a recovery as it shifts focus back to writing auto and homeowners policies. Barron's says the shares deserve a better premium. Comment!

• Tuesday, May 19, 2009

• 11:25 AM Allstate (ALL +4%) says it won't avail itself of TARP, becoming the second life insurer to decline federal aid after American Financial Group's (AFG) refusal last Friday. On Thursday, the Treasury approved six life insurers for government help. Comment!

• Friday, May 15, 2009

• 07:21 AM After waiting a half-year, six insurers were cleared to receive up to $22B in TARP funds late Thursday. Hartford Financial (HIG) was approved for $3.4B; Lincoln National (LNC) said it may receive $2.5B; also approved were Allstate (ALL), Prudential Financial (PRU), Principal Financial Group (PFG), and Ameriprise Financial (AMP). 2 Comments

• Friday, May 8, 2009

• 09:01 AM Premarket losers: DPTR -36%. CROX -19%. KFN -14%. XTXI -12%. HUN -11%. GNW -10%. BRKR -8%. ALL -7%. MS -7%. IRE -6%. BCRX -6%. Comment!

• Thursday, May 7, 2009

• 16:17 PM Allstate (ALL): Q1 EPS of $0.84 misses by $0.39. Revenue of $7.88B (-2.5%) vs. $8.16B. Says has statutory surplus of $13B at Allstate Insurance and $3.4B at Allstate Life. Unrealized net capital losses rose by $590M to $9.4B from Q4. Shares -1.85% AH. (PR) 1 Comment
• 15:10 PM Notable earnings after Thursday's close: AGO, AIG, ALL, ATVI, BYI, CBS, CNQ, CROX, DCT, FCH, GNW, HANS, IPI, LEAP, MCHP, MRX, NHP, NVDA, PDLI, POM, PSA, RMD, SAPE, SD, SGMS, SHO, SVR, VRSN Comment!
• 00:10 AM Notable earnings after Thursday's close: AGO, AIG, ALL, ATVI, BYI, CBS, CNQ, CROX, DCT, FCH, GNW, HANS, IPI, LEAP, MCHP, MRX, NHP, NVDA, PDLI, POM, PSA, RMD, SAPE, SD, SGMS, SHO, SVR, VRSN Comment!

• Tuesday, February 24, 2009

• 16:17 PM Allstate (ALL) cuts its dividend by more than half, to $0.20 from $0.41. Shares -2.8% AH. (PR) Comment!

• Monday, February 2, 2009

• 14:38 PM A catastrophe bond sold by Allstate (ALL) faces imminent default following the collapse of Lehman, S&P says. It would be only the second such security to fail in a decade. ALL -5.6%. Comment!

• Thursday, January 29, 2009

• 09:02 AM Premarket losers: DRYS -26%. LYG -19%. ALL -17%. AIB -16%. ZMH -12%. BDK -11%. UBS -11%. FO -10%. EK -9%. RBS -9%. DRE -9%. BCS -9%. CTXS -9%. FAS -8%. QCOM -8%. NM -8%. DB -8%. GNW -6%. GNK -6%. MT -6%. AZN -5%. ITW -5%. HIG -5%. PSSI -5%. FITB -5%. C -5%. JAVA -5%. Comment!