Market News

AIG (AIG)

AIG said Friday its net income rose to $455 million, or 68 cents per share, an improvement over the $24.5 billion loss from a year earlier. Results included a one-time net charge of $1.5 billion for capital losses and hedging. Sales for the New York-based company rose 189% to $26 billion, topping analysts' forecasts of $23 billion.
The troubled insurer said it continues to benefit from stabilization in the housing and credit markets, but future quarters will continue to be volatile.

Nov 6 · 5:28:00 PM · Source: Company News
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by Larry Etter

Allstate (ALL)

Allstate reported Q3 earnings of $0.41 per share on net income of $221 million versus a loss of $1.70 per share on a net loss of $923 million in the year ago period.
“Allstate delivered strong operating income of $538 million and increased book value per share by 16% during the third quarter, thanks to our operating discipline and proactive approach to investing,” said Thomas J. Wilson, chairman, president and CEO of The Allstate Corporation. “For the third quarter in a row, customer loyalty increased and we delivered a double-digit percentage increase in new standard auto business. By focusing on the customer and maintaining our financial strength, we are building a foundation for sustainable growth.”

Nov 5 · 3:26:00 PM · Source: Company News Release
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by Michael Oliveto

Ambac Financial Group Inc. (ABK)

ABK Financial Group said its third-quarter net income came in at $2.19 billion, or $7.58 a share, versus a net loss of $2.43 billion, or $8.45 a share, a year earlier,

Nov 4 · 1:06:00 PM
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by Larry Etter

Capital One (COF)

Capital One Financial Corporation announced a quarterly dividend of $0.05 per share payable November 20, 2009 to stockholders of record as of November 11, 2009.
The company has announced dividends every quarter since it became an independent company on February 28, 1995.

Nov 3 · 4:51:00 PM · Source: Business Wire
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by Michael Oliveto

Bank of New York Mellon (BK)

The Bank of New York Mellon Corporation announced that it has acquired a 20% minority interest in Siguler Guff & Company LLC and certain related entities, a multi-strategy private equity firm with approximately $8 billion in assets under management and committed capital.
Siguler Guff's focused investment offerings include fund of funds targeting distressed security investing, investing in emerging markets, including Brazil, Russia, India and China, and investing in small cap buyout opportunities.

Nov 3 · 4:40:00 PM · Source: Reuters
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by Michael Oliveto

Bank of New York Mellon (BK)

The Bank of New York Mellon Corporation announced that it has completed its previously announced acquisition of Pinnacle Arbitrage Compliance, one of the independent U.S. firms devoted exclusively to compliance services for tax-exempt bond issuers and conduit borrowers.
Terms of the agreement, first announced on September 2, were not disclosed.

Nov 3 · 4:40:00 PM · Source: Reuters
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by Michael Oliveto

Bank of New York Mellon (BK)

The Bank of New York Mellon Corporation announced that it has completed the acquisition of Insight Investment Management Limited from Lloyds Banking Group plc.
Based in London, Insight Investment specialises in Liability Driven Investment solutions, active Fixed Income and Absolute Return. Insight Investment's assets under management, net of identified internal assets that will be retained by another part of the Lloyds Banking Group, are approximately $133 billion.

Nov 3 · 4:38:00 PM · Source: Reuters
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by Michael Oliveto

Principal Financial Group (PFG)

Principal Financial Group said that it reported a third quarter profit of $192.9 million, or 57 cents a share, up from $98.3 million, or 35 cents a share, a year earlier. Operating earnings, which exclude net realized capital gains and losses, fell to 74 cents from 96 cents on lower assets under management, higher benefit costs and lower investment income. Revenue slid 9.1% to $2.27 billion.
The company said "mproved market conditions, and the positive impact of actions by management over the past several quarters, contributed to a strong sequential increase in assets under management and operating earnings."

Nov 2 · 10:14:00 PM · Source: Company News Release
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by Larry Etter

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