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California-based company $MCY said the deterioration in 2Q16 operating earnings was primarily due to an increase in the combined ratio from 98.5% in 2Q15 to 101.7% in 2Q16. The 2Q16 results were negatively impacted by $22MM of unfavorable reserve development, $11MM of catastrophe losses and $2MM in severance payments.
$BABA seems to be on a roll! But increasing its yearly sales outlook from 48% to 54% seems over-expectation from the company's part, doesn't it?
$JNJ down 2% in pre-market trading. Earnings beat expectations, but sales disappointed. Johnson is cautious on its outlook. How it will perform in the future?