On Friday, Hartford Financial Services Group Inc (NYSE:HIG)’s shares declined -0.25% to $47.57.
Most midsize businesses have business continuity plans but few have tested them, according to The Hartford’s survey of midsize business owners and C-level executives. This shortcoming presents potential risk for businesses, which may be unable to meet client needs due to an interruption in their operation or lose revenue due to a supplier issue.
While the majority of midsize businesses (59 percent) surveyed had a formal, documented continuity plan, one-third (33 percent) had an informal, verbal plan, and 8 percent stated having no plan at all. Just 19 percent of businesses had tested their plan.
The Hartford survey found that more than one-third (36 percent) of midsize businesses had been unable to meet a client need due to an interruption in their operation, putting their relationship with that client at risk. Of those businesses:
- A majority (57 percent) used an alternate supplier and avoided any direct impact on their clients.
- 39 percent lost business to other suppliers but had clients return once their business resumed operations.
- 9 percent lost clients that did not return.
The Hartford Financial Services Group, Inc., through its auxiliaries, provides insurance and financial services to individual and business customers primarily in the United States. The company’s Commercial Lines segment offers workers compensation, property, automobile, marine, umbrella, liability, and livestock coverage’s, in addition to customized insurance products and risk administration services, counting professional liability, bond, and specialty casualty coverage’s.
Aetna Inc (NYSE:AET)’s shares dropped -0.46% to $115.86.
Aetna ( AET) declared second-quarter 2015 operating earnings (1) of $722.1 million, or $2.05 per share, a per-share enhance of 21 percent over the second quarter of 2014. Net income (2) for the second quarter of 2015 was $731.8 million, or $2.08 per share. Net income for the second quarter of 2015 comprises $0.03 per share of net benefits, which are detailed in the Summary of Results table on page 8.
Total company results
- Operating earnings (1) were $722.1 million for the second quarter of 2015 contrast with $610.0 million for the second quarter of 2014. The 18 percent enhance in operating earnings is primarily due to higher underwriting margins in Aetna’s Health Care segment, partially offset by an enhance in general and administrative expenses.
- Net income (2) was $731.8 million for the second quarter of 2015 contrast with $548.8 million for the second quarter of 2014. Net income in both periods reflects net benefits (charges), which are detailed in the Summary of Results table.
- Operating revenues (3) were $15.1 billion for the second quarter of 2015 contrast with $14.5 billion for the second quarter of 2014. The 4 percent enhance in operating revenues is primarily the result of higher Health Care premium yields in addition to membership growth in Aetna’s Government business partially offset by membership losses in Aetna’s middle-market Commercial Insured products. Total revenue was $15.2 billion and $14.5 billion for the second quarters of 2015 and 2014, respectively. Total revenue for the second quarter of 2015 comprises about $110 million of net litigation-related proceeds.
Aetna Inc. operates as a health care benefits company in the United States. It operates through three segments: Health Care, Group Insurance, and Large Case Pensions. The Health Care segment offers medical, pharmacy benefit administration services, dental, behavioral health, and vision plans on an insured basis, and an employer-funded or administrative basis.
At the end of Friday’s trade, Cobalt International Energy, Inc. (NYSE:CIE)‘s shares surged 1.64% to $8.69.
Cobalt International Energy, Inc. (CIE) declared a net loss of $66.8 million, or $0.16 per basic and diluted share for the second quarter of 2015, contrast to a net loss of $94.8 million, or $0.23 per basic and diluted share, for the second quarter of 2014. The current quarter comprised of $4.4 million of impairment charges for the formerly declared abandonment of the North Platte #2 appraisal well.
Capital and operating expenditures (not taking into account changes in working capital) for the quarter ending June 30, 2015 were about $205 million, in line with Cobalt’s planned capital and operating expenditures of about $800-900 million in 2015. Cash, cash equivalents, investments, and undrawn amounts under the Heidelberg Facility Agreement at the end of the second quarter were about $1.9 billion. This comprises about $82 million held for future operations in collateralizing letters of credit.
Cobalt International Energy, Inc., through its auxiliaries, engages in the exploration and production of oil-focused, below-salt exploration prospects. Its project portfolio comprises North Platte, Heidelberg, Shenandoah, and Anchor discovery in the U.S. Gulf of Mexico; Cameia, Lontra, Mavinga, Bicuar, and Orca in the offshore Angola; and Diaman in the offshore Gabon.
Apollo Investment Corp. (NASDAQ:AINV), ended its Friday’s trading session with 0.37% gain, and closed at $6.87.
Apollo Investment Corporation (AINV) declared financial results for its first fiscal quarter ended June 30, 2015. The Company’s net investment income was $0.22 per share for the quarter ended June 30, 2015, contrast to $0.22 for the quarter ended March 31, 2015. The Company’s net asset value (“NAV”) was $8.01 per share as of June 30, 2015, contrast to $8.18, as of March 31, 2015.
Additionally, the Company also declared that its Board of Directors has declared a dividend of $0.20 per share for the first fiscal quarter of 2016, payable on October 6, 2015 to stockholders of record as of September 21, 2015. The specific tax characteristics of this dividend will be stated to stockholders on Form 1099 after the end of the calendar year.
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