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Insurer $PGR reported a 29% drop in 3Q16 earnings due to wider net impairment losses. Net income fell to $198.7MM or $0.34 per share from $278.3MM or $0.47 per share last year. Total pretax net realized losses on securities rose to $20.7MM from $15.8MM. Net premium written grew 12% to $6.05Bil and net premiums earned increased 13% to $5.72Bil.
$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?