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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (39927)	7/17/2003 3:52:18 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 72062

4:40PM Allstate profit soars over 70 percent in Q2 (ALL) by William Spain CHICAGO (CBS.MW) -- A doubling of catastrophic losses couldn't stop Allstate in the second quarter as it managed to boost profits by better than 70 percent. The company also raised full-year estimates. The Northbrook, Ill.-based insurer posted net income of $588 million, or 84 cents per share, up sharply from $344 million and 48 cents a year ago and almost a dime over the 76-cent consensus estimate of analysts polled by Thomson First Call. The company said it expects to earn between $3.50 and $3.65 per share for the full year, compared to a consensus of $3.47. The upside was driven primarily by rate increases. Shares of Allstate (ALL) closed down 18 cents at $37.50. 4:59PM Progressive Q2 profit jumps on stock gains (PGR) by David B. Wilkerson SAN FRANCISCO (CBS.MW) -- Progressive Corp. (PGR) said Wednesday that its second-quarter profit rose from a year ago on realized gains on securities, surpassing most estimates. The Mayfield Village, Ohio-based insurer said it earned $286.3 million, or $1.29 a share, compared to $160.4 million, or 72 cents, in the year-ago period. Analysts polled by Thomson First Call were looking for a profit of $1.22 a share. Net premiums written rose to $3.02 billion from $2.26 billion; the average estimate among respondents to Thomson's poll was $3.07 billion.