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Progressive (PGR)

Auto insurer Progressive Corp.(PGR) today said it posted a nice turnaround, returning to a profitable stance in the third quarter after being hurt last year by $1.37 billion of investment losses. Progressive's Q3 earnings were $269.9 million, or 40 cents a share, compared with a year-earlier loss of $684.2 million, or $1.03 a share. The mean estimates of analysts surveyed by Thomson Reuters were earnings of 33 cents a share and net premiums written of $3.56 billion.
The results come as insurers battle for market share in a market environment where the price of one policy over another is probably more important than ever.

Oct 14 · 10:57:00 AM · Source: Dow Jones Newswire · Related: Allstate
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by Larry Etter

Blackstone (BX)

Blackstone CEO Stephen Schwarzman sees industry improvement going forward.
Schwarzman sees dealflow and IPO investments opening up. During a speech at the Super Return Middle East private equity conference in Dubai he was quoted as saying, “We've all been through a trying period. We’re seeing more than green shoots of recovery, though the scale of economic growth through next year is still unclear. We do not expect the U.S. economy to slip back into recession, but we do believe that weak consumer spending and continued constraints on bank lending will dampen the U.S. economic recovery in 2010 and 2011."

Oct 14 · 10:46:00 AM · Source: CNBC
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by Michael Oliveto

J.P. Morgan (JPM)

JPMorgan Chase & Co. (NYSE: JPM) joined Intel today in boosting market morale when it reported third-quarter 2009 net income of $3.6 billion, compared with net income of $527 million in the third quarter of 2008. Earnings per share were $0.82, compared with $0.09 in the prior year. The results easily beat market expectations and helped move the stock market higher during Wednesday morning.
JPMorganChase CEO Jamie Dimon continues to show he's is one of -- or is the top -- banking CEOs in world.

Oct 14 · 10:40:00 AM · Source: BusinessWire · Related: BANK OF AMERICA
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by Larry Etter

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