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Insurer $PGR reported a 47% drop in 2Q16 earnings due to wider net impairment losses. Net income fell to $190.9MM or $0.33 per share from $363.3MM or $0.62 per share last year. Total pretax net realized gains on securities fell to $32.3MM from $76MM. Net premium written grew 13% to $5.93Bil and net premiums earned increased 11% to $5.56Bil.
$WBA is yet to receive US anti-trust clearance for its Rite Aid acquisition. The deadline for the deal expires on January 27.
$BMY plunge 7.2%. No credits to the non-acceleration of approval for lung cancer combination treatment.
Well this is big! I don’t know if it’s someone’s monopoly or genuine excitement, but either way, $CSX is up 23% after market closed. I heard some activist investor is going to blow big money into CSX Corp. Anyone mind explaining?