On Tuesday, Old Republic International Corporation (NYSE:ORI)’s shares declined -2.99% to $15.24.
Old Republic International Corporation (ORI) stated that net operating income for this year’s second quarter and first half exceeded our expectations. The results were bolstered by much improved underwriting performance in the Company’s general insurance business and by continued strength of its title insurance operations. The RFIG run-off segment also posted better year-over-year results partly due to less burdensome litigation claim expense provisions than practiced in the same periods of 2014. This year’s merged net income was comparatively lower as the unusually high level of realized investment gains recognized in the first half of 2014 were not repeated in this year’s second quarter and year-to-date periods.
The preceding table shows both operating and net income to highlight the effects of realized investment gain or loss recognition on period-to-period earnings comparisons. Administration uses net operating income, a non-GAAP financial measure, to evaluate and better explain operating performance, believing that this measure enhances an understanding of Old Republic’s core business results. Operating income, however, does not replace net income determined in accordance with GAAP as a measure of total profitability.
Old Republic International Corporation, through its auxiliaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company’s General Insurance Group segment offers automobile extended warranty, aviation, commercial automobile, commercial multi-peril, general liability, home warranty, inland marine, travel accident, and workers’ compensation insurance products; and financial indemnity products for specialty coverages, counting errors and omissions, directors and officers, fidelity, guaranteed asset protection, and surety.
Garmin Ltd. (NASDAQ:GRMN)’s shares dropped -2.13% to $36.81.
Garmin International Inc., a unit of Garmin Ltd. (GRMN), today announced the new Dash Cam 30 and Dash Cam 35. Representing the next generation of the Garmin Dash Cam™, these two high-definition standalone driving recorders easily mount to a windshield and record footage in a continuous loop. Garmin Dash Cam starts recording when the vehicle is turned on and stops when it is turned off1, serving as a driver’s true eyewitness on the road. The Incident Detection (G-sensor) automatically saves video footage on impact. New driver alerts2 allow Dash Cam to not only record the drive ahead, but also offer helpful alerts that encourage safer driving behavior for customers.
Assistful driver alerts comprise Forward Collision Warnings3, which provide alerts to users when they are driving too closely to the vehicle ahead. Furthermore, drivers have the advantage of knowing where red light or speed cameras are placed with the red light and speed camera warning4 alert. Driver alerts are accessible only on the Dash Cam 35 model.
Garmin Ltd., together with its auxiliaries, designs, develops, manufactures, and markets hand-held, wrist-based, and portable and fixed-mount global positioning system (GPS) enabled products; and other navigation, communication, and information products worldwide. It operates in five segments: Automotive/Mobile, Aviation, Marine, Outdoor, and Fitness.
At the end of Tuesday ‘s trade, Entergy Corporation (NYSE:ETR)‘s shares dipped -3.47% to $63.06.
Entergy Corporation (ETR) declared that Robert Hall III has been named vice president, federal governmental affairs. Based in Entergy’s Washington, D.C., office, Hall’s responsibilities comprise developing and implementing the company’s stakeholder engagement strategies with elected officials and key policymakers.
Hall comes to Entergy from General Electric, where he served as the lead U.S. government affairs advocate for the company’s multiple energy technologies through his role as executive counsel. During his nearly 30 year career in Washington, Hall also worked at Dutko Worldwide as a senior vice president, as managing director of global government affairs at INVISTA and at Koch Industries as director, government affairs. He began his career as legislative counsel in the office of Sen. Sam Nunn.
Hall received his bachelor’s degree in political science from the University of Georgia and his Juris Doctor from the University of Georgia School of Law. He is a member of the State Bar of Georgia. Hall will report to Kimberly Despeaux, senior vice president, federal policy, regulatory and governmental affairs.
Entergy Corporation, together with its auxiliaries, engages in the electric power production and retail electric distribution operations in the United States. It operates in two segments, Utility and Entergy Wholesale Commodities. The Utility segment generates, transmits, distributes, and sells electric power in portions of Arkansas, Mississippi, Texas, and Louisiana, counting the City of New Orleans; and distributes natural gas.
CNO Financial Group Inc (NYSE:CNO), ended its Tuesday ‘s trading session with -2.68% loss, and closed at $17.41.
CNO Financial Group, Inc. (CNO) declared second quarter of 2015 operating earnings (1) of $60.8 million, or 31 cents per diluted share, contrast to $71.3 million, or 32 cents per diluted share, in the second quarter of 2014.
Second Quarter 2015 Highlights
- Sales, as defined by total new annualized premium (“NAP”) (2): $105.5 million, up 1% from 2Q14
- Collected premium from our ongoing operating segments (3): $830.9 million down slightly from 2Q14
- Net income per diluted share: 24 cents in 2Q15 (counting 11 cents from the loss on extinguishment of debt) contrast to 35 cents in 2Q14
- Net operating income (1) per diluted share: 31 cents in 2Q15 contrast to 32 cents in 2Q14
- Unrestricted cash and investments held by our holding company were $385 million at June 30, 2015
- Common stock repurchases and dividends were $115 million in 2Q15
Six-month 2015 Highlights
- Sales, as defined by total NAP (2): $210.8 million, up 2% from the first six months of 2014
- Collected premium from our ongoing operating segments (3): $1,638.9 million down 1% from the first six months of 2014
- Net income (loss) per diluted share: 50 cents in the first six months of 2015 (counting 11 cents from the loss on extinguishment of debt) contrast to (69) cents in the first six months of 2014 (counting $1.35 from the loss on the sale of Conseco Life Insurance Company (“CLIC”) and gain on reinsurance transaction)
CNO Financial Group, Inc., through its auxiliaries, develops, markets, and administers health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. Its Bankers Life segment markets and distributes Medicare supplement insurance, interest sensitive and traditional life insurance, fixed annuities, and long term care insurance products; Medicare advantage plans primarily through distribution arrangements with Humana, Inc. and United HealthCare; and Medicare Part D prescription drug plans through a distribution and reinsurance arrangement with Coventry Health Care.
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