Hanover Insurance Group Swings To Q1 Profit
Hanover Insurance Group, Inc. (THG) Tuesday reported first-quarter net income of $92.7 million or $2.51 per share, compared to a net loss of $40.0 million or $1.04 per share last year.
Operating income was $61.4 million or $1.66 per share for the first quarter, compared to $86.8 million or $2.23 per share last year.
Total revenues for the quarter were $1.28 billion, up from $1.06 billion last year. Net premiums written rose to $1.20 billion from $1.14 billion last year.
Analysts polled by Thomson Reuters estimated earnings of $0.92 per share on revenues of $1.17 billion for the quarter.
Tim Tebow works out for Jacksonville Jaguars as tight end, per reports
The Jacksonville Jaguars will, in all likelihood, be selecting their quarterback of the future in Trevor Lawrence with the No. 1 pick of the 2021 NFL draft on Thursday.
But could they be in the market for another national championship-winning quarterback — at a different position?
NFL Network and ESPN reported Thursday afternoon that Tebow recently worked out for the Jacksonville Jaguars as a tight end. ESPN reported the former Heisman Trophy winner was the one who reached out to the team and requested the tryout.
No decision has been made, per the reports.
The mutual interest makes sense. First-year head coach Urban Meyer, coaching for the first time at the professional level, and Tebow won two national titles as a coach-quarterback duo at the University of Florida in 2006, when Tebow was a backup, and in 2008, when he was the starter.
Tebow also grew up in Jacksonville.
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Moody's affirms Mexico's rating, says deterioration in fiscal accounts contained
April 29 (Reuters) – Ratings agency Moody’s Investors Service on Thursday affirmed Mexico’s long-term foreign-currency and local-currency issuer ratings at “Baa1” and maintained its outlook as “negative.”
Mexico’s deterioration in the fiscal accounts has been contained and its economic contraction is likely to be reversed, Moody’s said bit.ly/3t2o9aQ in a note.
Carolina Panthers draft picks 2021: Round-by-round selections
Here is a 2021 NFL draft pick-by-pick breakdown for the Carolina Panthers:
Round 1 (No. 8 overall)
Round 2 (39)
Round 3 (73)
Round 4 (113)
Round 5 (151)
Round 6 (191, from Broncos)
Round 6 (193)
Round 6 (222, compensatory)
Carolina Panthers' last five top draft picks:
- 2020 (No. 7 overall): Derrick Brown, DT, Auburn
- 2019 (No. 16 overall): Brian Burns, DE, Florida State
- 2018 (No. 24 overall): D.J. Moore, WR, Maryland
- 2017 (No. 8 overall): Christian McCaffrey, RB, Stanford
- 2016 (No. 30 overall): Vernon Butler, DT, Louisiana Tech
U.S. Pending Home Sales Rebound Much Less Than Expected In March
After reporting a sharp pullback in U.S. pending home sales over the two previous months, the National Association of Realtors released a report on Thursday showing pending home sales rebounded in the month of March.
NAR said its pending home sales index jumped by 1.9 percent March after plunging by 11.5 percent to a revised 109.2 in February.
Pending home sales rebounded from their lowest level since last May, although economists had been expecting a more substantial increase of about 5.0 percent.
A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.
“The increase in pending sales transactions for the month of March is indicative of high housing demand,” said Lawrence Yun, NAR’s chief economist. “With mortgage rates still very close to record lows and a solid job recovery underway, demand will likely remain high.”
“Low inventory has been a consistent problem, but more inventory will show up as new home construction intensifies in the coming months, as well as from a steady wind-down of the mortgage forbearance program,” he added
The rebound in pending home sales was partly due to strong growth in the North, where pending sales spiked by 6.1 percent.
Pending home sales in both the South and West also jumped by 2.9 percent, while pending sales in the Midwest tumbled by 3.7 percent.
Looking ahead, NAR said existing home sales are projected to soar by 10 percent to 6.2 million in 2021. The median home price is expected to surge up by 9 percent to $323,900.
Hindustan Unilever Q4 net rises 13% on volume growth
Home care segment grows 15%, foods category climbs 36%
FMCG major Hindustan Unilever Ltd. (HUL) on Thursday reported a 13% increase in consolidated net profit to ₹2,190 crore for the fourth quarter ended March 31, riding on strong volume growth across categories.
Consolidated total income rose marginally to ₹12,542 crore, the company said in a regulatory filing.
HUL said it witnessed an “underlying volume growth of 16%” during the quarter. The home care category experienced growth of 15%, driven by a robust recovery in fabric wash.
The foods and refreshment segment grew 36%, the company said, adding, “all our tea brands continue to grow in high double digits. Ketchups, soups and ice creams also performed well with double-digit growth”.
“Nutrition volumes grew in double digits and we launched ₹2 sachets in Horlicks and Boost,” HUL said.
Beauty and personal care grew 20% with skin cleansing, hair care and oral care achieving high double-digit growth. Performance by the skin cleansing segment was led by ‘Lifebuoy’ and the premium segment, it added.
On rising commodity prices, the consumer goods company said, “a calibrated approach towards price increase has helped protect our business model even as vegetable oils continue to inflate at record levels.”
For FY21, consolidated net profit grew 18% to ₹7,999 crore. Consolidated total income increased to Rs. 47,438 crore, from ₹40,415 crore.