3 Hot Stocks to Kick Off the Week
Allstate Corp. (NYSE:ALL): The insurance company’s stock is up 2.81% in premarket trades following the release of its second quarter earnings. The business lost $620 million ($1.19 per diluted share) in the quarter. The property and casualty insurance company had net income of $145 million or 27 cents per share in the year earlier quarter. Revenue rose 5.6% to $8.08 billion from the year earlier quarter. ALL reported an adjusted net loss of $1.23 per share. By that measure, the company beat the mean analyst estimate of a loss of $1.53 per share. Allstate’s report will affect trading in these top insurance (NYSE:KIE) companies: The Progressive Corp. (NYSE:PGR), The Travelers Companies, Inc. (NYSE:TRV), and American Insurance Group (NYSE:AIG).
Humana Inc. (NYSE:HUM): The managed health care company has seen its stock surge 5.52% in premarket action thanks to upbeat second quarter earnings. Humana booked net income of $460.3 million ($2.71 per share) vs. $340.1 million ($2 per share) in the same quarter a year earlier. This marks a rise of 35.3% from the year earlier quarter. Revenue rose 8% to $9.28 billion from the year earlier quarter. HUM reported adjusted net income of $2.50 per share. By that measure, the company beat the mean estimate of $2.07 per share. Analysts were expecting revenue of $9.32 billion. Don’t Miss: 3 Major Health Insurance Companies Lock in Earnings.
Loews Corp. (NYSE:L): Loews Corporation is involved in commercial property and casualty insurance, operation of offshore oil and gas drilling rigs, production of natural gas and liquids, operation of interstate natural gas pipeline and operation of hotels. The company reported 2Q net income $252 million (62 cents per share) vs. $366 million (87 cents per share) a year earlier. This is a decline of 31.1% from the year earlier quarter. Revenue rose 1.6% to $3.54 billion from the year earlier quarter. Loews fell short of the mean analyst estimate of 75 cents per share. The stock is down -2.18% this morning.