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☆ Stocks making the biggest moves midday: RH, Reddit, Estée Lauder, AMC and more
▼ + stars: | 2024-03-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves midday. Estée Lauder — Shares jumped 6.28% after Bank of America upgraded them to buy from neutral. AMC Entertainment — Shares dropped 14.29% after the movie theater chain said in a filing it will sell $250 million worth of stock. Verint Systems — Shares added 6.63% after the customer engagement solutions provider surpassed fourth-quarter earnings per share and revenue expectations. Braze anticipates a loss of 10 cents to 11 cents per share for its first quarter, versus a 5 cents loss expected from analysts polled by FactSet.

Persons: Estée Lauder —, Steve Ladd Huffman, Jennifer Wong, Chemours, Sridhar Ramaswamy, FactSet, Synnex, TD Synnex, MillerKnoll, Braze, —, Alex Harring, Hakyung Kim, Pia Singh, Jason Kempin Organizations: Bank of America, New York Stock Exchange, AMC, Verint Systems, Apollo Global Management, FactSet, Allstate, HSBC, Getty

☆ Here are Thursday's biggest analyst calls: Nvidia, Meta, Tesla, Apple, CyberArk, Grindr, Estee Lauder & more
▼ + stars: | 2024-03-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Wells Fargo reiterates Bank of America as overweight Wells Fargo raised its price target on Bank of America to $44 per share from $40. HSBC downgrades Bank of America to hold from buy HSBC downgraded Bank of America mainly on valuation. Benchmark reiterates Nvidia as buy Benchmark said it's standing by its buy rating on Nvidia. Bank of America reiterates Amazon as buy Bank of America said it's bullish on Amazon's investments in AI. "We are initiating coverage on CYBR with a Buy rating and a $317 PT."

Persons: Wells Fargo, Bernstein, it's, Goldman Sachs, Tesla, Goldman, Piper Sandler, Piper, Clark, Kimberly, Claude, Estee Lauder, BTIG, TD Cowen, Cowen, Grindr, William Blair, Bentley, Morgan Stanley, JPMorgan, KeyBanc, Oppenheimer, Monness Crespi Hardt downgrades Palantir, Palantir Organizations: Bank of America, FDIC, Apple, HSBC downgrades Bank of America, HSBC, of America, PNC, Tesla, EV, Kimberly, Nvidia, Amazon, Bentley Systems, Allstate, JPMorgan, Major Pharma, Citi, Boeing, Barclays, Meta, SNAP Locations: mkts, DraftKings

☆ Stocks making the biggest moves premarket: Walgreens Boots Alliance, Estee Lauder, RH and more
▼ + stars: | 2024-03-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Walgreens Boots Alliance — Shares dipped 1.6% after the company's fiscal second quarter report was released. Walgreens generated $37.05 billion in revenue for the quarter, topping the LSEG forecast of $35.86 billon. Estee Lauder — Shares rose more than 3% after a Bank of America upgrade to buy from neutral. Management is guiding for full-year revenue growth to fall between 8% to 10%, while analysts polled by FactSet had forecasted 6.4%. Vornado Realty Trust — Shares gained 1.2% after Morgan Stanley upgraded the office building REIT to equal weight from underweight.

Persons: Estee Lauder, Vikram Gandhi, RH, FactSet, Morgan Stanley, Vornado, —, Jesse Pound, Sarah Min, Michelle Fox Organizations: Walgreens, Bank of America, Allstate, HSBC, Management, Apollo Global Management, Securities and Exchange Commission, U.S, Attorney's, Vornado Realty Locations: New York, West Coast

Wells Fargo raised its price target on Bank of America, now calling for more than 15% upside. Evercore ISI hiked its price target on the consumer products company to $150 per share from $133. Power has a $90 price target on the cloud software stock, implying shares can rally 44.5% in the next year. Forbes' $425 price target implies the stock can climb 43.1% from Wednesday's ending price. Analyst Mike Mayo raised his price target for the bank stock by $4 to $44, implying a 16.4% upside over Wednesday's close.

Persons: Wells Fargo, Clark, Javier Escalante, Escalante, KMB, — Jesse Pound, Jefferies, Portillo's, Andy Barish, Barish, — Brian Evans, Jason Gursky, Wednesday's, shakeup, Gursky, Alex Harring, Baird, William Power, — Alex Harring, Steven Forbes, Forbes, RH, BofA, Cintas, Heather Balsky, Balsky, Robinhood, Alex Markgraff, Markgraff, TD Cowen, John Blackledge, Grindr, Blackledge, It's, it's, Estee Lauder, Bryan Spillane, Spillane, Estee, Tom Ford, Joseph Greff, Greff, FanDuel, Vikram Gandhi, Gandhi, Wells, Bank of America Wells, Mike Mayo, Mayo, Goliath Organizations: CNBC, Bank of America, HSBC, Allstate, Kimberly, Staples, ISI, Citi, Boeing, Alaska Airlines, Dow Jones, UC, Guggenheim, RH's, FactSet, Estee Lauder Bank of America, JPMorgan, Allstate Allstate Locations: Portillo's, Five9, Estee, New Jersey, Wednesday's

☆ Why auto insurance rates are skyrocketing in the U.S.
▼ + stars: | 2024-03-23 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

Car insurance is getting more expensive. The average annual premium for full coverage auto insurance in the U.S. rose to $2,543 in 2024 — up 26% from the previous year, according to Bankrate. "That has led to an environment where the consumer, the insured, is out shopping for auto insurance and finding that they cannot find an insurer that has a lower premium for them." Around 215 million Americans carry auto insurance and the market is valued at roughly $353 billion, according to IBISWorld. So, what other factors are behind the spike in auto insurance rates and what impact are rising premiums having on consumers and large publicly traded companies such as Allstate, Progressive and Berkshire Hathaway's Geico ?

Persons: Stephen Crewdson, Berkshire Hathaway's Organizations: American, Casualty Insurance Association, Allstate, Progressive, Berkshire Locations: U.S, .

☆ Cramer's Lighting Round: Allstate is a buy
▼ + stars: | 2024-02-09 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Hawkins' year-to-date stock performance. Stock Chart Icon Stock chart icon PayPal's year-to-date stock performance. Stock Chart Icon Stock chart icon Kimberly-Clark's year-to-date stock performance. Stock Chart Icon Stock chart icon CVS's year-to-date stock performance. Stock Chart Icon Stock chart icon Lennar's year-to-date stock performance.

Persons: Hawkins, Kimberly, Clark, it's, It's, Lennar Organizations: PayPal

☆ Lightning Round: Kimberly-Clark isn't turning as quickly as I'd like, says Jim Cramer
▼ + stars: | 2024-02-09 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Kimberly-Clark isn't turning as quickly as I'd like, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: PayPal, Allstate, Hawkins, CVS, Kimberly-Clark and Lennar.

Persons: Kimberly, Clark isn't, Jim Cramer, Clark, Lennar Organizations: PayPal, Allstate, Hawkins, CVS Locations: Kimberly

☆ Stocks making the biggest moves after hours: Disney, PayPal, Arm Holdings, Wynn Resorts and more
▼ + stars: | 2024-02-07 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Although fourth-quarter results beat Wall Street estimates, the company's forecast was lower than expected . PayPal said the number of active users fell to 426 million, which was below the Wall Street estimate of 427.17 million, according to StreetAccount. Oscar Health — Shares gained more than 24% due to stronger-than-expected full-year guidance that surpassed Wall Street estimates. The fourth-quarter earnings forecast also topped Wall Street estimates. Monolithic Power Systems — Shares climbed nearly 8% after beating Wall Street estimates in the fourth quarter.

Persons: Disney, StreetAccount, Oscar, Oscar Health —, Wynn, FactSet Organizations: Disney, Epic Games, PayPal, Wall, Oscar Health, Wynn, —, Allstate — Stock, FactSet . Arm Locations: LSEG

☆ Storms in California hit homeowners already facing an insurance crisis
▼ + stars: | 2024-02-06 | by ( Anna Bahney | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —The storms pummeling California this week hit a part of the US already being battered by a home insurance crisis. With insurers strained by climate change and inflation, many are demanding higher premiums, making it much harder to find affordable (or any) home and fire insurance. But it is not just California; homeowners in other areas prone to weather events like Florida, Louisiana, and Texas are also facing challenges. Meanwhile, in hurricane-battered Florida, Farmers Insurance deemed it too risky to continue insuring homes and pulled out of that market entirely. “This isn’t just climate change, it is climate-change-plus,” Bach said.

Persons: ”, Amy Bach, United, Michael Monaghan, Sellers, you’ve, Jennifer Branchini, Bach, Hurricane Andrew, ” Bach, mitigations Organizations: DC CNN, Allstate, Farmers Insurance, Coldwell, California Association of Realtors, National Oceanic, Atmospheric Administration, Hurricane, FAIR, California Department of Insurance Locations: Washington, California, Florida , Louisiana, Texas, San Francisco, California’s, Golden State, Florida, Vermont, Colorado, Pleasanton, United, “ Florida, Louisiana

☆ Insurers leaving flood, fire prone areas correction
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: 1 min

This story has been updated to clarify when Allstate announced it would pause accepting applications for new insurance policies in California.

Organizations: Allstate Locations: California

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe hidden reason some U.S. homes are losing valueMany homeowners in the U.S. are losing their home insurance policies. Major insurers like State Farm and Allstate are no longer offering new policies in California. State Farm attributes this to increased wildfire risk, inflation and other challenges in the region. Louisianan and Floridian homeowners are facing similar issues due to flood risk. Watch the video to learn more about why homeowners are receiving non-renewal notices and what that means for the U.S. real estate market.

Organizations: Farm, Allstate, U.S Locations: U.S, California ., Louisianan

☆ Insurers such as State Farm and Allstate are leaving fire- and flood-prone areas. Home values could take a hit
▼ + stars: | 2024-02-05 | by ( Lindsey Jacobson | In | ) www.cnbc.com time to read: +3 min

What happens when a homeowner can't get insuranceDarlene Tucker and Tom PinterWithout insurance, many homeowners can find themselves in big financial trouble. Darlene Tucker, 66, and Tom Pinter, 68, are longtime homeowners in Sonora, California. Darlene Tucker and Tom Pinter's home in Sonora, California. Dogs play at Darlene Tucker and Tom Pinter's home in Sonora, California. Darlene Tucker and Tom Pinter

Persons: Darlene Tucker, Tom Pinter, Tucker, Pinter, Tom Pinter's, — that's, Porter, That's, Kevelighan Organizations: Allstate, CNBC, Insurance, homebuyers Experts, Insurance Information Institute Locations: Sonora , California, California

☆ 8 more of our stocks report earnings next week. Here's what we want to see
▼ + stars: | 2024-02-03 | by ( Zev Fima | ) www.cnbc.com time to read: +13 min

The three major averages posted gains for the fourth week in row, lifted by strong quarterly earnings results for most of the Big Tech companies and a strong jobs report. A weaker ADP Employment report on Wednesday provided no read-through to the monster January jobs report Friday. Here's what we're keeping an eye on in the coming week: 1. Earnings: It's another big earnings week head for the portfolio, with 8 more of our companies reporting. Consistency is what we appreciate most from nat gas giant Linde , so we're hoping for another quarter of solid earnings growth Tuesday.

Persons: Estee Lauder, Eli Lilly, Mounjaro, Nelson Peltz, Estée Lauder, Tyson, CARR, Jacobs, Willis Towers Watson, Edwards, Walt Disney, Oscar Health, Philip Morris, Armour, BAX, BILL, Jim Cramer's, Jim Cramer, Jim, George Frey Organizations: Big Tech, Dow Jones Industrial, Nasdaq, PMI, Apple, Starbucks, Procter, Gamble, GE Healthcare, DuPont, Linde, Ford, General Motors, Trian Partners, Disney, ESPN, Wynn Resorts, Wynn, Vegas, Prix, Estée Lauder Companies, Caterpillar, McDonalds Corp, Allegiant Travel, Bowlero Corp, Tyson Foods, TSN, Air Products & Chemicals, IDEXX Laboratories, CNA Financial Corp, CNA, Timken Company, Graham Corporation, Mesa Laboratories, Sphere Entertainment, Loews Corp, Technologies, Vertex Pharmaceuticals, Semiconductors, Simon Property Group, Amkor Technology, FMC Corporation, FMC, BellRing Brands, Crown Holdings, ChampionX Corporation, Golub Capital BDC, Flexsteel Industries, Kilroy Realty Corp, Gladstone Capital Corp, Unibanco, S.A, Snack Foods Corp, Kimball Electronics, Skyline Corp, Cabot Corporation, Simpson Manufacturing Co, Varonis Systems, Co, GE HealthCare, Linde plc, LIN, Spotify Technology S.A, BP, Hertz Global Holdings, AeroSystems Holdings, Toyota Motor Corp, Cummins, CMI, Software Technologies, AGCO Corporation, Carrier Global Corporation, Lear Corp, CONSOL Energy, Centene Corporation, Gartner, Arcbest Corp, CTS Corporation, Energizer Holdings, Hamilton Lane Incorporated, KKR, Precision Drilling Corporation, Frontier Group Holdings, Waters Corp, Alfa Laval, Aramark Holdings Corp, FirstService Corporation, Garden Sports Corp, New Jersey Resources Corp, nVent Electric plc, PJT Partners, Resources, Sensata Technologies, Ford Motor Company, Enphase Energy, Grill, VF Corp, Edwards Lifesciences Corp, Gilead Sciences, Lumen Technologies, Cognizant Technology Solutions Corp, Weatherford International plc, Amcor plc, Arrowhead Pharmaceuticals, Advanced Energy Industries, Uber Technologies, CVS Health, Roblox Corporation, Ares Capital Corp, Bunge, XPO Logistics, Scotts Miracle, Gro Company, Berry Global, Flex LNG, Equinor ASA, Griffon Corporation, OneMain Holdings, Brookfield Asset Management, Emerson Electric Co, Hilton Worldwide Holdings, Reynolds Consumer Products, Silicon Laboratories, Brands, Sciences, CDW Corp, Fox Corporation, WYNN, PayPal, Arm Holdings plc, ARM, Axcelis Technologies, Mattel, Paycom, Annaly Capital Management, McKesson Corp, Health Corporation, O'Reilly Automotive, Allstate Corp, Fluence Energy, Power Systems, Digital Turbine, Blue Bird Corp, Everest Group, Omega HealthCare, Coty, COTY, ConocoPhillips, Cameco Corp, Philip Morris International, Spirit Airlines, Hershey Company, Lightspeed Commerce, Aurora Cannabis, Lincoln National Corp, P, Tenet Healthcare Corp, Asbury Automotive Group, Arrow Electronics, Baxter International, PetMed, Boyd Gaming Corp, FirstEnergy Corp, Motorola Solutions, Terex Corp, PepsiCo, Growth, AMC Networks, Owl, American Pipeline, TELUS International, Magna International, Newell Brands, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, China, Macau, Wynn Macau, Valvoline, VVV, ALFVY, Madison, New Jersey, Gilead, Ceridian, ORLY, Paycor, Aurora, Provo , Utah

☆ Buying Home and Auto Insurance Is Becoming Impossible
▼ + stars: | 2024-01-14 | by ( Jean Eaglesham | ) www.wsj.com time to read: 1 min

After Allstate suffered billions of dollars in losses and failed to get the rate increases it wanted, it resorted to the nuclear option. The insurance giant threatened last fall to stop renewing auto insurance for customers in three states that hadn’t given in to its demands, which would have left those policyholders scrambling for coverage. The states blinked.

Organizations: Allstate

☆ Dividend-paying stocks could rise in 2024. Investors like these plays for the new year
▼ + stars: | 2023-12-28 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +6 min

Dividend-paying stocks took a backseat to this year's tech-driven market rally, but 2024 could be the year that they come back in vogue. A couple of catalysts could swing the pendulum back in favor of dividend payers in 2024, including the Fed's forecast for three rate cuts in the new year. "Not only do you get the dividend yield and dividend growth, but you get some capital appreciation perhaps – that's where it gets interesting," he added. Special dividend payers Kim Abmeyer, certified financial planner and founder of Abmeyer Wealth Management in Dallas, sees dividend-paying stocks coming into focus for 2024. The energy company in November announced that it raised its regular dividend by 10% and it declared a $1.50 per share special dividend.

Persons: gangbuster, Charlie Gaffney, Eaton Vance, Gaffney, bode, Bernstein, it's, Nelson, Piper Sandler, Paul Newsome, Kim Abmeyer, Abmeyer, Stocks, Roth MKM's Leo Mariani Organizations: Big Tech, Nasdaq, Morgan Stanley Investment Management, Broadcom, VMware, Evercore ISI, Disney, Allstate, Abmeyer Wealth Management, Costco Wholesale, Costco Locations: Dallas

☆ Read the pitch deck that helped AI adtech company Qortex raise $6 million, led by Nvidia and Samsung alumni
▼ + stars: | 2023-11-20 | by ( Ryan Joe | ) www.businessinsider.com time to read: +3 min

Qortex, which uses AI to target ads in streaming TV, online video, and video games, said Monday it had raised a $6 million Series A round, led by GFT Ventures. Because Qortex's technology analyzes what's happening in the video frame-by-frame, it understands what's happening at a very granular level, said Rosenberg. For instance, Rosenberg said Qortex could help publishers identify strobing lights in video to remain ADA compliant, or quickly scan video archives to find specific content. While GFT has invested in about 10 companies so far Herbst said, Qortex is "one of the first and honestly one of my favorites." Check out select slides from the pitch deck that helped Qortex raise its $6 million Series A round.

Persons: Zack Rosenberg, Qortex, Rosenberg, Jeff Herbst, Herbst, Mark Pedowitz, Sid Mookerji, GFT Organizations: GFT Ventures, Silicon Road Ventures, Business, GFT, Nvidia, CW Network, Silicon, Ventures, NHL, Allstate

☆ UBS likes these income plays as Treasury yields come down from recent highs
▼ + stars: | 2023-11-16 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

Treasury yields have retreated, and that's good news for one kind of income asset – preferred securities, according to UBS. US10Y YTD line U.S. 10-year Treasury yield in 2023 This month has offered some relief as the 10-year Treasury yield slipped back below 4.5%. "Indeed, a dramatic rate pullback in the early days of November has already sparked a sharp rebound in preferreds," Sileo said. "Callable in July 2028, this fixed-for-life perpetual pays a high 7.375% fixed coupon and offers an attractive [yield to call/current yield]." Investors can receive an attractive yield on a high-quality crossover credit, recently upgraded by S & P following the acquisition by Brookfield [Infrastructure]."

Persons: preferreds, Frank Sileo, US10Y, Sileo, Callable, Michael Bloom Organizations: UBS, Americas, Treasury, Moody's Investors Service, Allstate, Triton International, Triton, Brookfield Locations: preferreds, Infrastructure

☆ Nelson Peltz’s Trian Reports Allstate and Sysco Stakes
▼ + stars: | 2023-11-15 | by ( J Oshbeckerman | ) www.wsj.com time to read: 1 min

Trian Fund Management took fresh stakes in Allstate and Sysco. Photo: Mike Blake/REUTERSNelson Peltz ’s Trian Fund Management reported a new Allstate position of 3.64 million shares in its quarterly 13F filing. Last month, Reuters reported that Trian had an Allstate stake. Trian also reported a new stake in food distributor Sysco , with 1.22 million shares.

Persons: Mike Blake, Nelson Peltz, Trian Organizations: Trian, Management, Allstate, Sysco, Reuters

☆ The 10 cities where you're most likely to get in a car accident
▼ + stars: | 2023-11-09 | by ( Melissa Wells | ) www.businessinsider.com time to read: +1 min

Forbes Advisor ranked the most dangerous cities for traffic accidents across the US. Atlanta and Dallas tied for the top city where you're most likely to get in a car accident. Accidents are more likely in car-dependent areas like Los Angeles than Chicago or New York. Using research from the National Highway Traffic Safety Administration and Allstate, Forbes Advisor identified the cities where you're most likely to get in a car accident. AdvertisementAdvertisementHere are the top 10 cities where you're most likely to get in a car accident.

Persons: — Organizations: Forbes, Dallas, Service, National, Traffic Safety Administration, Allstate Locations: Atlanta, Los Angeles, Chicago, New York

☆ Homeowner insurance and climate have become major factors in real estate
▼ + stars: | 2023-11-07 | by ( Anna Bahney | ) edition.cnn.com time to read: +8 min

Farmers Insurance deemed it too risky to continue insuring homes in Florida and pulled out of the market there entirely. The average cost for homeowners’ insurance in the United States is about $1,820, according to an analysis by NerdWallet, but there are many variables. As climate risks continue, a standoff has developed over who should pay the cost of insuring homes against ever-growing risks. And for many of the properties that are on the market you can’t obtain insurance? “We’ll have to see some creative solutions in the near term to create that competitive marketplace for insurance,” she said.

Persons: Michael Monaghan, Sellers, “, ’ ” Monaghan, ”, Monaghan, Will, Amy Bach, United, Hurricane Andrew, ” Bach, mitigations, Bach, Jennifer Branchini, Branchini Organizations: DC CNN, Coldwell, Allstate, . Farmers Insurance, National Oceanic, Atmospheric Administration, NOAA, Hurricane, FAIR, California Department of Insurance, California Association of Realtors, State Farm, Farm, “ Locations: Washington, California, Bayside, ”, Florida, Monaghan, United States, “, San Francisco, “ Florida, Louisiana, WUI, Pleasanton

SAN FRANCISCO (AP) — Heidi Lange was among the first to rebuild after the deadliest wildfire in California history destroyed her home in 2018 along with much of the town of Paradise. Residents have received annual premiums that near or exceed $10,000 — leaving many to wonder how they're supposed to rebuild their hard-hit community when insurance is so shockingly high for houses in an area that is supposed to be among the most affordable in California. Seven of the 12 top home-insurers in California — including Farmers Insurance, State Farm, Allstate — have paused or restricted new business in California, saying they can’t afford to take on new clients. Carl Johnsen, a retired drywall contractor, has lived in the same house since 1979, when he moved to Paradise. The Robinsons are paying $4,500 through the California Fair Access to Insurance Requirements Plan, and $750 with another insurer for supplemental liability coverage.

Persons: — Heidi Lange, “, ”, Ricardo Lara, Michael Soller, Rex Frazier, Carl Johnsen, Johnsen doesn’t, Gene Robinson, Robinson, Lara, Soller, Kathy Ehrhart, ” Lange Organizations: FRANCISCO, Fire, Farmers Insurance, State Farm, Allstate, California’s, Insurance Department, Paradise . Farmers Insurance, Farmers, “, Personal Insurance Federation of, Robinsons, FAIR Locations: California, Paradise, Personal Insurance Federation of California, Louisiana , Texas, Florida, Chicago

☆ Morning Bid: Fed, financing and jobs greet November
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +6 min

Despite the U.S. Treasury forecasting a lower fourth-quarter borrowing need than previously flagged, the tension in the bond market remains ahead of its detailed future refinancing plans due later on Wednesday. With the Federal Reserve widely expected to hold policy rates steady again on Wednesday, the Treasury plans may end up getting more bond market attention. But U.S. consumer confidence has softened, oil prices are falling again and the overseas demand picture is weakening. Another heavy day of U.S. corporate earnings is topped by big insurers and the likes of PayPal and Kraft Heinz. On Tuesday, shares in heavy-machinery maker Caterpillar (CAT.N) sank almost 7% as signs of slowing demand overshadowed a quarterly earnings beat.

Persons: Mike Dolan, Masato Kanda, it's, Japan's, China Evergrande, Joe Biden, Xi Jinping, Kraft Heinz, Estee Lauder, Kraft, Ingersoll Rand, Nick Macfie Organizations: Wednesday's, Bank of Japan, Japan's Nikkei, Japan, U.S, U.S . Treasury, Federal Reserve, Treasury, HK, White House, Asia Pacific Economic Cooperation, Wall, PayPal, Kraft, Caterpillar, Edison, AIG, Prudential Financial, MetLife, Qualcomm, Mckesson, Kraft Heinz, Allstate, Congnizant, Boston Properties, Water, Garmin, CVS, Brands, Humana, Reuters Graphics Reuters, US National Retail Federation, Thomson, Reuters Locations: U.S, United States, China, Hong Kong, San Francisco, Tokyo, Marathon, Boston

☆ Allstate, Allianz invest $265 million in Next Insurance in a big bet on insuretech
▼ + stars: | 2023-11-01 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +2 min

Allstate and Allianz are making a sizable bet on the digital transformation of the commercial insurance market with a $265 million strategic investment in Next Insurance, an insuretech startup focused on the small business market. "There's a massive opportunity with 30 million-plus small business owners in the U.S.," said Guy Goldstein, CEO and co-founder of Next Insurance. The commercial market is a much more complex one to transform digitally compared to personal lines where a generic application can be completed easily online. The small business market specifically is also one where owners often lack insurance expertise and internal finance staff to handle the policy decisions. "It's a $140 billion market but it is extremely fragmented," Goldstein said.

Persons: Guy Goldstein, William Blair, William Blair's, Goldstein Organizations: Allstate, Allianz, Next Insurance, CNBC Locations: U.S

☆ Climate Risk Is Becoming Uninsurable. Better Forecasting Can Help.
▼ + stars: | 2023-10-30 | by ( Jon Sindreu | ) www.wsj.com time to read: 1 min

A new generation of mathematical modelers might be able to help defuse a looming insurance crisis. Floods, electrical storms and wildfires, together with raw-material inflation, are pushing up premiums for so-called catastrophe insurance. Some Americans are moving away from riskier places such as Florida, while others are foregoing cover. Insurers such as Allstate , State Farm and Farmers Insurance, owned by Zurich Insurance Group , are withdrawing from disaster-prone areas.

Organizations: Allstate, State Farm, Farmers Insurance, Zurich Insurance Group Locations: Florida

☆ How the Fed is using its multi-trillion-dollar balance sheet to fight inflation
▼ + stars: | 2023-10-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +9 min

Washington, DC CNN —The Fed’s fight against inflation is about to enter a new phase, but the central bank’s enormous balance sheet will continue to play a key role. The Fed also manages a multi-trillion-dollar balance sheet that accounts for trillions in government securities and lists how much currency is in circulation. For over a year now, the Fed has been steadily shrinking its balance sheet to help cool the economy. The Fed’s balance sheet is currently at around $7.9 trillion, down from its peak of $9 trillion in early 2022 right before the runoff. They also see alternative scenarios for the end of the balance sheet runoff if there isn’t a recession.

Persons: that’s, Lael Brainard, What’s, Wells, Jerome Powell, JPMorgan Chase’s Jamie Dimon, Jamie Dimon, Krystal Hur, Dimon —, Mr, Dimon, JPMorgan Chase, what’s, Estee Lauder, Kraft Heinz, Yum, Bausch, Eli Lilly, Molson Organizations: CNN Business, Bell, DC CNN, Congress, Fed, Wall Street, JPMorgan, JPMorgan Chase, CNN, HSBC, McDonald’s, China’s National Bureau of Statistics, Bank of Japan, Pfizer, Caterpillar, Marathon Petroleum, Sirius XM, Anheuser, Busch, BP, Chesapeake Energy, US Labor Department, Global, Board, CVS, GSK, Humana, Reuters, Apollo Global Management, Brands, Garmin, Cruise Line Holdings, Qualcomm, Airbnb, PayPal, MetLife, Aflac, AIG, Allstate, Prudential, P Global, Institute for Supply Management, Federal Reserve, ConocoPhillips, Starbucks, Duke Energy, Shopify, Ferrari, Marriott International, Moderna, Fox, Molson Coors, Hyatt, Apple, Motorola, Bank of England, Dominion Energy, Gartner, Restaurant Brands Locations: Washington, Treasuries, China’s, Mondelez, DoorDash, Avis, Shell, Cigna

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