Catastrophe modelers, insurers and reinsurers are still sorting out the damage from Windstorm Xynthia in Europe and the earthquake in Chile. Taking only the highest of high-end estimates, the damage from these two catastrophes could exceed $12 billion, resulting in fairly steep property-catastrophe losses long before hurricane season begins. With three more major property reinsurance renewals remaining for the year -- at April 1, June 1 (Florida) and July 1 -- there is plenty of time for the impact of these events to be absorbed into reinsurance pricing.
Flagstone Reinsurance posts
FeedAssessing the Tab for Q1 Catastrophes
Holiday earnings reports: Constellation Energy, Natco, Trico Marine and others
Even though tomorrow is a holiday in the U.S., there are a handful of companies planning to report quarterly earnings nonetheless. Perhaps some may be trying to keep a low profile; others may simply not be concerned with the American holiday schedule. Regardless, here's a quick peek at some of those companies, with the consensus earnings per share estimate of analysts surveyed by Thomson Financial compared to the previous quarter and year-ago quarter, the share price at the close on Friday (with charts behind the links), and consensus recommedations.
- Constellation Energy Partners (NYSE: CEP). Est. EPS: .48; Prev. Q.: .31; Yr-ago: .51; Shares: $19.63; Rec.: Strong buy.
- Flagstone Reinsurance Holdings (NYSE: FSR). Est. EPS: .66; Prev. Q.: .68; Shares: $13.19; Rec.: Hold.
- Natco Group Inc. (NYSE: NTG). Est. EPS: .69; Prev. Q.: .63; Yr-ago: .57; Shares: $44.46; Rec.: Buy.
- PharMerica Corp. (NYSE: PMC). Est. EPS: .08; Prev. Q.: .06; Shares: $13.86; Rec.: Hold.
- Stewart Information Services Corp. (NYSE: STC). Est. EPS: -.04; Prev. Q.: -.79; Yr-ago: .59; Shares: $32.49; Rec.: Hold.
- Trico Marine Services Inc. (NASDAQ: TRMA). Est. EPS: .77; Prev. Q.: .87; Yr-ago: 1.07; Shares: $31.92; Rec.: Buy.
UPDATED: Constellation reported .13 EPS; Flagstone reported .60 EPS; Natco reported .66 EPS; PharMerica reported .09 EPS; Stewart reported -1.74 EPS; and Trico Marine reported 2.08 EPS.
IPO & secondary preview - week of March 26, 2007
Wall Street's equity market offers another solid schedule this week, with 12 deals on the docket, including 7 IPOs and 5 Secondaries. Those deals tentatively scheduled to price include:IPOs:
Monday
Aruba Networks (ARUN), an 8M-share IPO for secure wireless systems company. JP Morgan Chase and Lehman Brothers are the lead managers. Filing range: $8.00-$10.00.
Wednesday
eTelecare Global Solutions (ETEL), a 5.5M-share IPO for this call center company. Deutsche Bank is the lead manager. Filing range:
$12.50-$14.50.
Thursday
GSI Technology (GSIT), an 8M-share IPO for this semiconductor company. Needham and W.R. Hambrecht are the lead managers. Filing range: $6.50-$8.00.
Senorx (SENO), a 5.5M-share IPO for this medical devices company. Bank of America and Citigroup are the lead managers. Filing range: $11.00-$13.00.
Super Micro Computer (SMCI), an 8M-share IPO of this network servers company. Merrill Lynch is the lead manager. Filing range $9.50-$11.50.
Friday
Flagstone Reinsurance (FSR), a 13M-share IPO for this reinsurance company. Lehman Brothers and Citigroup are the lead managers. Filing range: $12.50-$14.50.
Western United Financial (WNF), a 6.4M-share IPO for this business financing company. Sandler O'Neill is the lead manager. Filing price: $8.00.
Continue reading IPO & secondary preview - week of March 26, 2007
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