Progressive Corp., the fourth- largest U.S. auto insurer, said profit fell 15 percent on investment writedowns.
Second-quarter net income dropped to $211.9 million, or 32 cents a share, from $250.1 million, or 37 cents, in the year- earlier period, the Mayfield Village, Ohio-based company said today in a statement. Operating income, which excludes investment losses, was [...]
Posts Tagged ‘stock market’
Progressive Profit Falls 15% on Investment Losses
July 14th, 2010 by HardMoney Writer
Tags: banks, economy, financial, financial market, global recovery, Hard Money Loans, investment, stock market
more...US Stocks Rise Slightly, Led By Financials, Energy; DJIA Up 19
July 7th, 2010 by HardMoney Writer
U.S. stocks rose slightly Wednesday as the financial sector rallied on a rosy forecast from State Street Corp. and an increase in crude lifted energy stocks, but the gains were small as disappointing manufacturing data out of Germany weighed.
The Dow Jones Industrial Average rose 19 points, or 0.2%, to 9763, in early trading. The measure’s [...]
Tags: bank of america, Dow Jones Industrial, economic growth, eurozone economy, financial sector, JPMorgan, money, stock market, us manufacturing, wall street
WORLD FOREX: Dollar Draws Wary Investors,Focus Turns To G-20
June 25th, 2010 by HardMoney Writer
The dollar was slightly stronger versus the euro Friday as top leaders from the G-20 gathered to discuss the world’s economic woes, with equities softening and investors mulling fresh worries about the rising cost of insuring Greek debt.
Markets are focusing on the meeting of the leaders of the Group of 20 industrialized and emerging nations [...]
Tags: central bank, economic recovery, European economy, eurozone economic, Financial Markets, investments, investor, stock market
New home sales plummet to record low
June 23rd, 2010 by HardMoney Writer
New home sales plummeted to a record low in May, the first month following the expiration of the homebuyer tax credit. This snapped a two-month streak of gains.
New home sales declined 32.7% to a seasonally adjusted rate of 300,000 last month, down from an downwardly revised 446,000 in April, the Commerce Department reported Wednesday. Sales [...]
Tags: chief economist, commerce department, Financial Markets, home buyers, home sales, lenders, loan, mortgage, real estate, stock market, tax credit
China’s yuan move to help ties-U.S. ambassador
June 21st, 2010 by HardMoney Writer
* Yuan move removes “irritant” in U.S.-China relations
* Step a “genuine attempt” to provide yuan flexibility
* No real progress in military relationship (Adds details, quotes)
China’s signal over the weekend that it would give more room for the yuan to move is a genuine step toward currency reform that should help improve U.S.-China ties, the U.S. [...]
Tags: Bank of China, barack obama, china economy, financial market, global economic, global recovery, investments, stock market
U.S. Stocks Are Steady in Early Trading
June 18th, 2010 by HardMoney Writer
Markets on Wall Street opened little changed Friday, with consumer staples and industrial shares providing support, but the market was expected to seesaw with the expiration of futures and options contracts.
In early trading the Dow Jones industrial average was flat, at 10,435.30 points. The Standard & Poor’s 500-stock index lost 0.04 percent, at 1,115.64 points, [...]
Tags: chief economist, Dow Jones Industrial, European economy, eurozone economy, financial market, Financial Markets, hard money news, interest rates, money, stock market, wall street
Euro Snaps Six-Week Drop Versus Yen as Risk Appetite Increases
June 12th, 2010 by HardMoney Writer
The euro ended its longest stretch of weekly losses against the yen since the shared currency was created as investor appetite for riskier assets improved on signs Europe’s debt crisis is unlikely to derail global growth.
The yen fell against 15 of its 16 most-traded counterparts as stock and oil gains boosted demand for currencies linked [...]
Tags: commerce department, consumers, debt crisis, European economy, eurozone economy, global recovery, JPMorgan, money, stock market, U.S. consumer, US Economy
FOREX-Dollar, euro slip vs yen after U.S. retail data
June 11th, 2010 by HardMoney Writer
* Dollar dips vs yen on retail sales data
* Euro eases as U.S. data, technicals limit gains
* Japan’s PM warns on public debt, default risks (Updates prices, adds comment, U.S. data, changes byline)
The dollar surrendered gains against the yen on Friday after data showing a surprise drop in U.S. retail sales last month dented risk [...]
Tags: debt crisis, economy, eurozone economy, Federal Reserve, financial market, global economic, hard money, interest rates, stock market, us retailers
Oil Rises After Increased Demand Forecast, Weaker U.S. Currency
June 10th, 2010 by HardMoney Writer
Crude oil rose for a third day as the International Energy Agency increased its demand forecast and the dollar weakened, bolstering the appeal of commodities as an alternative investment.
Futures traded near a two-week high after the Paris-based agency predicted worldwide oil use in 2010 will rise by 1.7 million barrels, or 2 percent, to a [...]
Tags: china economy, Commodities, economic sectors, financial market, money investment, oil, stock market
Euro hits multi-year low, recovers on short covering
June 7th, 2010 by HardMoney Writer
The euro fell below $1.19 for the first time in more than four years on Monday but recovered most losses as U.S. stocks rose slightly and strong German manufacturing data pushed investors to buy back the currency.
European corporate demand helped lift the euro after it touched $1.1876, its weakest level since March 2006. But it [...]
Tags: debt crisis, Dow Jones Industrial, economic recovery, European Central Bank, european union, eurozone economy, financial, financial crisis, hard money, stock market
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