Market Currents

• Tuesday, November 17, 2009

• 15:51 PM Despite a lack of fallout so far, life insurers led by MetLife (MET +0.6%) and Prudential (PRU +2.1%) may lose near $23B on commercial real estate in the next two years, Fitch says. The insurers held more than $450B in commercial loans and MBS at the end of 2008. 1 Comment

• Wednesday, November 4, 2009

• 16:26 PM Prudential Financial (PRU): Q3 EPS of $1.59 beats by $0.26. Revenue of $6.6B (+4%) vs. $6.65B. Shares +1.3% AH. (PR) 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, August 21, 2009

• 11:15 AM As credit markets closed to them, CIT Group (CIT), GMAC, Prudential Financial (PRU) and others went to retirees to get new funding, Bloomberg reports - selling notes that contain "survivor's options" and other features former SEC head Arthur Levitt calls "almost an affinity type of financing geared to elderly people." Finra is investigating whether risks were adequately disclosed. Comment!

• Wednesday, August 5, 2009

• 16:12 PM Prudential Financial (PRU): Q2 EPS of $1.88 beats by $0.68. Revenue of $6.3B (-8%) vs. $6.6B. Sees full-year EPS of $5.00-5.20 vs. $4.72. Shares +1.9% 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!

• Wednesday, July 15, 2009

• 17:14 PM Sources report Prudential (PRU) has resumed talks with AIG (AIG) over buying two Japanese insurance units, after discussions stalled earlier in the year. A sale could yield $3B for AIG, though the two sides aren't yet close to a deal. Comment!

• Monday, June 22, 2009

• 14:56 PM In the wake of Manulife's (MFC -14.3%) warning by Canadian regulators about insufficient disclosure of risks, other variable-annuity providers are tumbling: Hartford Financial (HIG -9.7%), Prudential (PRU -7.1%) and Lincoln Financial (LNC -5.8%) are on the decline. Comment!

• Monday, June 1, 2009

• 07:06 AM Prudential Financial (PRU) announces a $1.25B common stock offering, and says it won't participate in Treasury's Capital Purchase Program. Shares -2.3% premarket. Comment!

• Friday, May 15, 2009

• 09:15 AM Premarket gainers: XOMA +35%. EXEL +24%. WX +14%. HIG +14%. LNC +13%. PL +11%. EEE +11%. FUQI +11%. NVAX +10%. ZLC +10%. YGE +9%. ENTU +8%. CNO +7%. LVS +7%. PRU +6%. PFG +6%. CNB +5%. STEM +5%. DRYS +4%.
  Losers: BBI -25%. GU -18%. FE -14%. IRE -8%. YRCW -9%. FIG -6%. IOC -6%. ANF -5%. VNDA -5%. JCP -4%. Comment!
• 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

• Thursday, May 7, 2009

• 09:03 AM Premarket gainers: VNDA +808%. VG +65%. VICL +33%. COF +18%. CNO +17%. HBAN +17%. GNW +16%. BAC +15%. FITB +14%. C +14%. AIG +14%. KFN +13%. CIT +12%. CDNS +11%. GTE +12%. KNDL +11%. CSUN +11%. DFS +9%. IRE +10%. ANF +10%. UL +10%. LNC +10%. DDR +10%. MFG +9%. HIG +8%. CNB +9%. UCBH +9%. SIG +8%. STT +8%. PRU +8%. CPSL +8%. GCI +7%. ETFC +7%. ONNN +7%. ACAS +7%. ERX +7%. CVC +6%. PRGN +6%. ZION +6%. DRYS +6%. BK +6%. Comment!

• Wednesday, May 6, 2009

• 16:23 PM Prudential Financial (PRU): Q1 EPS of $1.05 beats by $0.22. Revenue of $1M vs. $1M. Shares +3.1% AH. (PR) Comment!
• 15:10 PM Notable earnings after Wednesday's close: APC, ATW, CAR, CECO, CSCO, EGLE, EXPD, FRT, GDP, GLBL, HME, IO, KEG, MUR, MVSN, NWS.A, ONNN, PRU, PVA, REG, RIO, SCI, SUN, SVNT, SYMC, THQI, TSO, USU Comment!
• 00:10 AM Notable earnings after Wednesday's close: APC, ATW, CAR, CECO, CSCO, EGLE, EXPD, FRT, GDP, GLBL, HME, IO, KEG, MUR, MVSN, NWS.A, ONNN, PRU, PVA, REG, RIO, SCI, SUN, SVNT, SYMC, THQI, TSO, USU Comment!

• Wednesday, April 8, 2009

• 09:00 AM Premarket gainers: CTX +31%. LNC +27%. HIG +26%. GNW +24%. PFG +24%. SPF +29%. PNX +21%. CNO +17%. BBBY +14%. HOV +14%. PRU +12%. GT +10%. MTG +11%. JNPR +9%. MET +9%. LEN +8%. IFX +8%. MGM +7%. AU +6%. PLD +7%. KG +6%. ETFC +6%. CENX +6%. S +5%. DRYS +4%. ACAS +4%. F +4%. LVS +4%.
  Losers: AIB -11%. SAY -8%. MOS -4%. AAUK -3%. Comment!