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Progressive (PGR): Earnings Preview

Mon, 12 Oct 2009 17:28:18 GMT

Progressive Corp. (PGR) is expected to release its third quarter results before the market opens on Oct 14. The Zacks Consensus Estimate for this stock is 33 cents per share. In the prior-year period, the company had reported earnings of 31 cents per share.[More...]

BioMed News Bytes: Dendreon, Chelsea, Cytori, Cephalon, OraSure, Genzyme, Lixte

Thu, 24 Sep 2009 23:01:08 GMT

On 4/28/09, Dendreon (NASDAQ: DNDN) announced that its experimental cancer vaccine Provenge extended the life of patients with advanced prostate cancer by a median of 4.1 months, which is one month longer than the only other treatment option, Taxotere.[More...]

How To Find The Best Place To Set Your Sell Stops

Wed, 09 Sep 2009 17:06:34 GMT

I've been receiving a lot of e-mails lately from people who are interested in trading options, and the most frequently asked question is about where to set your stop-loss on option positions.[More...]

Fitch Cuts Progressive

Tue, 18 Aug 2009 20:34:54 GMT

Yesterday, Fitch Ratings downgraded Progressive Corp. (PGR) but not because of a deterioration of the company’s financial profile. Interestingly, the action was the result of a change in the agency’s rating criteria. Fitch cut Progressive’s Issuer Default Rating (IDR) to 'A+' from 'AA-' and Senior debt ratings to 'A' from 'A+'. However, the outlook assigned for all ratings is stable. The agency increased weightage on Progressive’s capital strength by focusing more on its estimated leverage ratios and its monoline character. According to Fitch, Progressive has high net premiums written to surplus and net leverage ratios compared to its peers, and this exposes its capital to unanticipated pricing errors. Additionally, the company maintains an “autos-only" policy and does not provide any other[More...]

S&P 500 Stocks

Sun, 05 Apr 2009 01:35:00 GMT

The S&P 500 comprises of 500 large cap common stocks actively traded in the United States. The largees public companies that are traded on the New York Stock Exchange (NYSE) and NASDAQ are included in the S&P 500 index. The S&P 500 index was lunched in 1957 and is a value weighted index which is based on the 500 American stocks with the largest market capitalizations. The S&P 500 is the most widely followed index After the Dow Jones Industrial Average index and it is considered a barometer for the American economy. The S&P 500 index is included in the Index of Leading Indicators. There are the number of trading vehicle that are designed to follow the S&P 500 index. Hundreds of billions of US dollars have been invested in this index. The SPY (Exchange Traded Fund) is one of the most actively trading stock over the world. The Rydex,[More...]

Capitalism, Socialism And Democracy - And Common Sense

Mon, 16 Mar 2009 05:10:00 GMT

Monitoring financial and political news has become a very depressing task recently. While the USA enjoyed a short fairy tale period between president Obama Barack's election and his inauguration, the staccato of catastrophic news has accelerated into a crescendo of crisis since January. Financial TV gushes with appearances of the global top brass, united in the goal to fend off the consequences of 22 years of highly expansive monetary policy, free market gospel and excessive leverage on public and private levels, but clueless how to achieve this. Europe fares still worse. What looks like a nosedive in American economic activity evokes images of a freefall in the old world at close range. Overindebted consumers, now also fearing the increasing possibility of losing their jobs and tightening the grip on wallets thinned by rising public service fees, overshadow[More...]

Tax Policy: A Tool For Good Or A Weapon Of Mass Destruction?

Sun, 15 Mar 2009 07:55:00 GMT

President Obama, Congress and much of the public have torches in their hands, storming the fortress that is alternative assets - venture capital, private equity and hedge funds. The issue: taxation of earnings. What is the character of the earnings, ordinary income or capital gains? Unfortunately they're missing the point. How about creating an environment where there are more earnings - which generate even higher taxes, employment, new business creation and innovation? And consider the larger issue of the capital gains tax rate itself. President Obama wants to raise it, to at least 20% and perhaps beyond. The disgruntled public and PR-happy Congresspeople are excited at the prospect of raising taxes on these constituencies, and getting to raise the pelt over their heads with the message "We just generated billions of dollars, took from the[More...]

Finance Capitalism Hits a Wall

Wed, 18 Feb 2009 01:00:00 GMT

Hudson saw earliest in my opinion that this was not an emerging technical problem, its a fundamental issue of the political economy and the dollar system. Its solutions will involve tension between owners and renters of all assets and between the real economy and financial flows. The debt must be written off. The Oligarchs' Escape Plan By MICHAEL HUDSON The financial “wealth creation” game is over. Economies emerged from World War II relatively free of debt, but the 60-year global run-up has run its course. Finance capitalism is in a state of collapse, and marginal palliatives cannot revive it. The U.S. economy cannot “inflate its way out of debt,” because this would collapse the dollar and end its dreams of global empire by forcing foreign countries to go their own way. There is too little manufacturing to make the economy more “competitive,” given its high housing costs, transportation,[More...]

In, Then Out

Wed, 11 Feb 2009 00:54:00 GMT

In the fashion world, the rule is: "One day you’re in, and the next day you’re out." Or so says says Heidi Klum, the beautiful blonde host of the television series, "Project Runway." But this cruel reality doesn't only apply in the case of this or any other creative art. The movers-and-shakers on Wall Street have also experienced their share of abrupt popularity shifts through the years, though the fickleness tends to be broad-based. During the boom times, those who know how to make and accumulate large sums of money are lionized and fawned over, in the hope that their golden touch might somehow rub off on the minions below. Eventually, when the bubble bursts and conditions turn sour, so does the mood of the public. Former "masters of the universe" are villified and singled out for[More...]

Short Interest Update

Sun, 01 Feb 2009 18:27:00 GMT

If you are an avid short seller, the financial sector is of particular interest. I did some research on short interest levels for various financial-related industries and, as a whole, the sector's short interest level was down 3% (as of Jan 15th). The industries researched are the 1) broker-dealers, large banks, 2) securities processors, 3) regional banks, 4) online brokers, 5) specialty/mortgage finance, 6) life insurance, 7) asset management, 8) p&c insurance, and 9) reinsurance. The largest increase in short interest came from the securities processors, up +42% (partially thanks to STT: +86%). The runners up were the broker-dealers and large banks, up 8%. Next came asset management with a +4% increase. Life insurance saw a 0% increase, and all other sub-sectors saw a decrease in short interest[More...]

Progressive posts 40 percent income gain for July

Wed, 12 Aug 2009 15:02:00 GMT

MAYFIELD VILLAGE, Ohio - Auto-insurance provider Progressive Corp. said Tuesday its July income jumped 40 percent, as it reversed investment losses and settled certain cases for less than it had set aside to cover them.
The company said net income rose to $114.9 million, or 17 cents per share, compared with $81.8 million, or 12 cents per share, in July 2008.
It posted $25.8 million in net realized gains on securities, or investments, compared with a loss of $16.1 million in July 2008.

[More...]

EA, Rio Tinto, Eastman Kodak are big movers

Wed, 10 Dec 2008 20:06:00 GMT

NEW YORK - Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:
The manufacturer of electric motors and water heaters cut its fourth-quarter profit outlook on weaker construction and consumer spending.
Office Depot Inc., up 20 cents at $2.63

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Zacks Analyst Blog Highlights: Sangamo Biosciences, Dow AgroSciences, Sigma-Aldrich, Genentech and Progressive Corp. - Yellow Brix

Mon, 14 Jul 2008 04:02:00 GMT

Stocks recently featured in the blog include: Sangamo Biosciences Inc. (Nasdaq: SGMO), Dow AgroSciences (NYSE: DOW), Sigma-Aldrich (Nasdaq: SIAL), Genentech (NYSE: DNA) and Progressive Corp. (NYSE: PGR).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=4579
We anticipate The Progressive Corporation (NYSE: PGR) will release its 2Q08 results the week of July 14, 2008.

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Progressive Insurance Partners With Web.com to Help Independent Agents With Online Marketing

Thu, 13 Aug 2009 12:25:00 GMT

Web.com , a leading provider of online marketing for small businesses, announced today an agreement with Progressive Insurance that will provide Progressive's independent insurance agents with access to a complete suite of online marketing business solutions.[More...]

Progressive Reports July Results

Tue, 11 Aug 2009 20:11:00 GMT

The Progressive Corporation today reported the following results for July 2009:[More...]

The Progressive Corporation Announces Investor Relations Conference Call

Tue, 04 Aug 2009 12:48:00 GMT

As previously announced, The Progressive Corporation will host a one-hour conference call on Wednesday, August 12, 2009, beginning at 9:00 a.m. eastern time. On August 10, 2009, Progressive expects to file its Quarterly Report on Form 10-Q with the Securities and Exchange Commission and post its second quarter 2009 Shareholders’ Report, including the Letter to Shareholders from its President and CEO, Glenn Renwick, to its Web site at www.progressive.com/annualreport. Under Progressive's conference call format, management will not make detailed comments in addition to these published reports, but will respond to questions at that time.[More...]

Bikers Can Fill Up (On Corn) and Give Back

Mon, 27 Jul 2009 19:34:00 GMT

Motorcyclists now have an appetizing way to help their local communities. Over the next several months, America’s leading motorcycle insurer, Progressive, is giving away hot roasted corn on the cob at motorcycle rallies across the country for a suggested donation of $1 an ear.[More...]

Protect Every Vehicle Used by Your Business With Progressive’s New Any Auto Liability Coverage

Thu, 23 Jul 2009 11:01:00 GMT

Pop quiz. Which of the following vehicles would be covered with an Any Auto Liability endorsement from leading commercial auto insurance company Progressive?[More...]

Progressive Reports June Results

Fri, 10 Jul 2009 12:33:00 GMT

The Progressive Corporation today reported the following results for June and the second quarter 2009:[More...]

Progressive Wins Voice Of The Customer Award

Thu, 25 Jun 2009 16:56:00 GMT

Customers with opinions aren’t hard to find. Companies who listen can be. But listening and responding to customer feedback is precisely what earned car insurance company Progressive one of Forrester Research’s Voice Of The Customer Awards. The awards recognize initiatives that enable companies to dramatically improve how they collect, interpret, and react to customer feedback. Forty companies representing leading brands in financial services, retail, health care, technology, and travel submitted entries for the awards. The awards were presented to three winners at Forrester’s Research Customer Experience Forum in New York.[More...]

Progressive Announces Election of Lawton W. Fitt to Board of Directors and Share Repurchase Authorization

Thu, 11 Jun 2009 20:13:00 GMT

The Board of Directors of The Progressive Corporation today elected Lawton W. Fitt, 55, to fill a vacancy on the Company's Board for a term ending on the date of the Annual Meeting of Shareholders in April 2010.[More...]

RenaissanceRe Holdings Ltd. Announces That Jeffrey D. Kelly Will Succeed Fred R. Donner As Chief Financial Officer

Wed, 10 Jun 2009 14:01:00 GMT

RenaissanceRe Holdings Ltd. (NYSE: RNR) today announced the appointment of Jeffrey D. Kelly as Executive Vice President and Chief Financial Officer, effective July 6, 2009.
Mr. Kelly had also served in the additional post of Vice Chairman from 2004.
Mr. Kelly is a member of the board of directors of The Progressive Corporation, where he serves as Chairman of the Investment and Capital committee.

[More...]