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AIZ

Assurant

$84.30

-7 (-7.67%)

14:50
10/19/16
10/19
14:50
10/19/16
14:50

Assurant falls after Q3 preannouncement shows profit cut in half

Specialty insurance and protection provider Assurant (AIZ) slumped after reporting preliminary third quarter results Tuesday evening. ASSURANT WARNS OF EARNINGS MISS: In a regulatory filing submitted shortly after Tuesday's market close, Assurant reported preliminary Q3 operating income of $54M-$66M as compared to $104M in last year's Q3. Results declined primarily due to $32M-$34M of after-tax catastrophe losses related to flooding in Louisiana and the "ongoing normalization" of lender-placed insurance in the company's Specialty Property business, it said. The company noted it had no reportable catastrophe losses in last year's Q3, making year-over-year comparisons challenging. Given the likely Q3 miss once books are finalized, Assurant also warned it now expects income in its Solutions business to "decline modestly" for the full year, commenting that "growth from new and existing mobile programs in 2016 is not expected to offset declines in legacy extended service contracts, credit insurance and the loss of the tablet program." The company also noted that it still expects Specialty Property income to "decrease" relative to 2015. PRICE ACTION: Shares of Assurant are down 7.8% to $84.20. The company is slated to report final Q3 results after the market close on October 25.

  • 26

    Oct

AIZ Assurant
$84.30

-7 (-7.67%)

01/07/16
RHCO
01/07/16
NO CHANGE
Target $105
RHCO
Buy
Assurant called a Top Pick at SunTrust
SunTrust analyst Mark Hughes established Assurant as a Top Pick saying the multiple should expand as the company transitions from a value stock into the growth category. He has a Buy rating on the name with a $105 price target.
06/01/16
BOFA
06/01/16
NO CHANGE
BOFA
21st Century, Fox MetLife added to US 1 List, Assurant removed at BofA/Merril
10/07/16
FBCO
10/07/16
INITIATION
Target $93
FBCO
Neutral
Assurant initiated with a Neutral at Credit Suisse
Credit Suisse analyst John Nadel initiated Assurant with a Neutral and a $93 price target.
10/07/16
10/07/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Zillow (ZG, Z) initiated with a Buy at Needham. 2. AMD (AMD) initiated with an Equal Weight at Barclays. 3. Aflac (AFL) was initiated with an Underperform at Credit Suisse while the firm also initiated Prudential (PRU) and Assurant (AIZ) with a Neutral. 4. Fifth Third (FITB) initiated with a Neutral at Wedbush. 5. GW Pharmaceuticals (GWPH) initiated with a Buy at Goldman. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

BBBY

Bed Bath & Beyond

$27.30

-1.37 (-4.78%)

15:04
09/19/17
09/19
15:04
09/19/17
15:04
Options
Bed Bath & Beyond options imply 13.2% move in share price post-earnings, above median historical move »

Pre-earnings options…

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  • 19

    Sep

IO

ION Geophysical

$9.75

0.05 (0.52%)

15:03
09/19/17
09/19
15:03
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15:03
Conference/Events
ION Geophysical management to meet with Evercore ISI »

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  • 20

    Sep

UNIT

Uniti Group

$17.47

-0.93 (-5.05%)

, WIN

Windstream

$2.01

-0.03 (-1.47%)

15:02
09/19/17
09/19
15:02
09/19/17
15:02
Hot Stocks
S&P downgrades Uniti Group to 'B' on downgrade of Windstream »

S&P Global Ratings…

UNIT

Uniti Group

$17.47

-0.93 (-5.05%)

WIN

Windstream

$2.01

-0.03 (-1.47%)

03/08/13
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  • 02

    Oct

WIN

Windstream

$2.01

-0.03 (-1.47%)

, UNIT

Uniti Group

$17.47

-0.93 (-5.05%)

15:02
09/19/17
09/19
15:02
09/19/17
15:02
Recommendations
Windstream, Uniti Group analyst commentary  »

Windstream, Uniti selloff…

WIN

Windstream

$2.01

-0.03 (-1.47%)

UNIT

Uniti Group

$17.47

-0.93 (-5.05%)

03/08/13
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03/06/13
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03/06/13
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  • 02

    Oct

MIK

Michaels

$21.13

-0.36 (-1.68%)

15:00
09/19/17
09/19
15:00
09/19/17
15:00
Options
Call buyers in Michaels Companies »

Call buyers in Michaels…

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WIN

Windstream

$2.01

-0.03 (-1.47%)

14:59
09/19/17
09/19
14:59
09/19/17
14:59
Hot Stocks
S&P downgrades Windstream to 'B' with negative outlook »

S&P Global Ratings…

03/08/13
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03/06/13
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RDNT

RadNet

$11.10

-0.05 (-0.45%)

14:59
09/19/17
09/19
14:59
09/19/17
14:59
Hot Stocks
RadNet VP Linden sells 18,000 shares of company stock »

RadNet VP Jeffrey Linden…

03/08/13
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03/06/13
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  • 28

    Sep

14:51
09/19/17
09/19
14:51
09/19/17
14:51
General news
Mexico Bolsa market halts trading following earthquake, Bloomberg reports »

Equities, fixed income,…

FDX

FedEx

$215.92

0.84 (0.39%)

14:49
09/19/17
09/19
14:49
09/19/17
14:49
Options
Fedex options imply 4.7% move in share price post-earnings, above median historical move »

Pre-earnings options…

03/08/13
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03/06/13
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03/06/13
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  • 19

    Sep

  • 21

    Sep

  • 25

    Sep

UBNT

Ubiquiti

$50.62

-4.335 (-7.89%)

14:47
09/19/17
09/19
14:47
09/19/17
14:47
Technical Analysis
Technical View: Ubiquiti heading down in late afternoon trading »

The shares have been…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 26

    Sep

  • 28

    Nov

VLO

Valero

$72.67

0.47 (0.65%)

14:44
09/19/17
09/19
14:44
09/19/17
14:44
Periodicals
Valero says responding to fire at Port Arthur refinery, Reuters reports »

Valero has confirmed that…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 26

    Oct

UBNT

Ubiquiti

$50.62

-4.335 (-7.89%)

14:42
09/19/17
09/19
14:42
09/19/17
14:42
Recommendations
Ubiquiti analyst commentary  »

Most Citron points on…

03/08/13
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  • 26

    Sep

  • 28

    Nov

REV

Revlon

$17.15

1.15 (7.19%)

14:40
09/19/17
09/19
14:40
09/19/17
14:40
Hot Stocks
Revlon jumps after majority shareholder Perelman says won't take private »

Shares of personal care…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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GLNG

Golar LNG

$21.04

-0.41 (-1.91%)

14:35
09/19/17
09/19
14:35
09/19/17
14:35
Options
Golar LNG put volume heavy and directionally bearish »

Bearish flow noted in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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EWW

iShares MSCI Mexico

$55.84

-0.07 (-0.13%)

14:31
09/19/17
09/19
14:31
09/19/17
14:31
Hot Stocks
Breaking Hot Stocks news story on iShares MSCI Mexico »

iShares MSCI Mexico dips…

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ICON

Iconix Brand

$5.88

0.19 (3.34%)

14:29
09/19/17
09/19
14:29
09/19/17
14:29
Initiation
Iconix Brand initiated  »

Iconix Brand initiated…

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  • 28

    Sep

14:26
09/19/17
09/19
14:26
09/19/17
14:26
General news
Puebla, Mexico hit by 7.1 magnitude earthquake »

Reported by…

$NSD

NASDAQ Market Internals

14:17
09/19/17
09/19
14:17
09/19/17
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
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SAIC

SAIC

$64.20

0.92 (1.45%)

14:16
09/19/17
09/19
14:16
09/19/17
14:16
Hot Stocks
SAIC moving into initial production phase for Marines' AAV SU program »

The U.S. Marine Corps…

03/08/13
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03/06/13
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03/06/13
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$NYE

NYSE Market Internals

14:16
09/19/17
09/19
14:16
09/19/17
14:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

03/08/13
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03/06/13
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03/06/13
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UNIT

Uniti Group

$17.47

-0.93 (-5.05%)

14:15
09/19/17
09/19
14:15
09/19/17
14:15
Options
Uniti Group put volume heavy and directionally bearish »

Bearish flow noted in…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 02

    Oct

POR

Portland General Electric

$46.57

0.21 (0.45%)

14:15
09/19/17
09/19
14:15
09/19/17
14:15
Recommendations
Portland General Electric analyst commentary  »

Portland General Electric…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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VOLVY

Volvo

14:01
09/19/17
09/19
14:01
09/19/17
14:01
Periodicals
Volvo to expand South Carolina production plant, CNBC reports »

Volvo is adding an…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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PETS

PetMed Express

$35.81

0.25 (0.70%)

13:55
09/19/17
09/19
13:55
09/19/17
13:55
Hot Stocks
PetMed lower after unverified Twitter user mentions SEC investigation »

Unverified Twitter user…

03/08/13
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03/06/13
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03/06/13
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BBY

Best Buy

$53.68

-3.6695 (-6.40%)

13:55
09/19/17
09/19
13:55
09/19/17
13:55
Conference/Events
Best Buy to host investor day »

Investor Day to be held…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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  • 19

    Sep

  • 22

    Oct

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