Latest News for Aviva Stock (OTC:AIVAF)

Aviva is a multiline insurer that is listed on the London Stock Exchange. The company traces its roots back to the 17th century with the establishment of Hand-in-Hand. After the Great Fire of London, this mutual was formed to provide protection against fires. Hand-in-Hand was then acquired by Commercial Union in 1905. Over the years, Hand-in-Hand insured London landmarks such as London Bridge, the British Museum, and the Palace in Lambeth. The life insurance part of Aviva began in the early part of the 18th century with the establishment of Amicable, again a mutual society but this time to protect widows and children against the loss of life.

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Corebridge Financial Inc (NYSE: CRBG) penned a deal to divest its U.K.

Corebridge Financial Divests UK Life Insurance Business To Focus On Core US Portfolio

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Aviva Reports 5% Rise In Operating Profit, Raises Interim Dividend

Aviva PLC

Corebridge Financial Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crbg#NYSE">CRBG</a>) penned a deal to divest its U.K. life insurance business, operating as AIG Life Limited, to&nbsp;Aviva PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/aivaf#OTC">AIVAF</a>) for&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/09/b34848699/corebridge-financial-to-sell-uk-life-insurance-business-to-aviva-plc" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&pound;460 million in cash</a>.
AIG Life is the life insurance subsidiary of Corebridge, which offers financial and practical support for individuals and businesses.
The sale is expected to close in H1 2024, subject to customary closing conditions, including regulatory approvals.&nbsp;
&quot;This transaction is another positive step toward streamlining the Corebridge portfolio to focus on the Life &amp; Retirement products and solutions that are driving positive results in the United States. We are confident that Aviva will continue to provide individuals and employers with the innovative service and solutions they need to protect themselves and their employees.&quot;, stated Peter Zaffino, Chairman and CEO of majority shareholder&nbsp;American International Group, Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aig#NYSE">AIG</a>) and Chairman of the Board of Directors of Corebridge.
As of June 30, 2023, Holding company liquidity&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/08/b33568813/corebridge-financial-announces-second-quarter-2023-results" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">stood at $1.6 billion</a>.
Price Action: CRBG shares closed higher by 2.70% at $19.43 on Friday.

Corebridge Financial Agrees To Divest UK Life Insurance Arm To Aviva In £460M Deal

General Motors Co (NYSE: <a class="ticker" href="/stock/gm#NYSE">GM</a>) reported a strong rise in its second-quarter earnings. GM reported its quarterly earnings at $2.5 billion, or $1.54 per share, up from $1.3 billion, or $0.85 per share, in the year-earlier period. Its revenue surged to $39.4 billion from $33.2 billion. However, analysts were expecting earnings of $1.18 per share on revenue of $36.71 billion. GM sold 2.3 million vehicles in the second quarter, up 7% from a year-ago period.

Kraft Foods Inc (NYSE: <a class="ticker" href="/stock/kft#NYSE">KFT</a>) reported a 4.2% rise in its second-quarter profit and raised its projections for the year. Kraft's quarterly profit rose to $976 million, or $0.55 per share, from $937 million, or $0.53 per share, in the year-ago period. Its revenue climbed 13% to $13.88 billion. Kraft's operating earnings per share came in at $0.62. However, analysts were expecting operating earnings of $0.58 per share on revenue of $13.08 billion. Kraft raised its forecast for organic net revenue growth for the year to at least 5%, versus at least 4%. It also lifted its operating earnings outlook to at least $2.25 per share, versus at least $2.20 per share. Analysts were expecting operating earnings of $2.23 per share. 

El Paso Corp (NYSE: <a class="ticker" href="/stock/ep#NYSE">EP</a>) reported upbeat second-quarter earnings. El Paso reported its quarterly earnings at $262 million, or $0.34 per share, up from $157 billion, or $0.21 per share, in the year-earlier period. Its revenue climbed 21% y/y to $1.23 billion. El Paso's adjusted earnings came in at $0.25 per share. Analysts were expecting earnings of $0.24 per share on revenue of $1.19 billion.

Southwest Airlines Co (NYSE: <a class="ticker" href="/stock/luv#NYSE">LUV</a>) reported weaker-than-expected second-quarter profit. Southwest reported its quarterly net income at $161 million, or $0.21 per share, up from $112 million, or $0.15 per share, in the year-earlier period. Southwest Airlines' adjusted profit came in at $0.15 per share. Its revenue surged to $4.14 billion from $3.17 billion. However, analysts were expecting earnings of $0.21 per share on revenue of $4.01 billion.

Cigna Corp (NYSE: <a class="ticker" href="/stock/ci#NYSE">CI</a>) reported a 39% rise in its second quarter profit. Cigna's quarterly profit surged to $408 million, or $1.50 per share, from $294 million, or $1.06 per share, in the year-ago period. Its adjusted profit came in at $1.53 per share. The company's consolidated revenue climbed to $5.51 billion from $5.35 billion. However, analysts were expecting earnings of $1.29 per share on revenue of $5.32 billion. 

CVS Caremark Corp (NYSE: <a class="ticker" href="/stock/cvs#NYSE">CVS</a>) reported a drop in its second-quarter earnings. CVS reported its quarterly earnings at $816 million, or $0.60 per share, down from $821 million, or $0.60 per share, in the year-earlier period. Its revenue climbed to $26.63 billion from $24 billion. However, analysts were expecting earnings of $0.64 per share on revenue of $26.76 billion. CVS narrowed its 2011 adjusted earnings forecast from continuing operations to $2.75 to $2.81 per share, versus analysts' estimates of $2.78 per share.

Cardinal Health (NYSE: <a class="ticker" href="/stock/cah#NYSE">CAH</a>) reported a 9% decline in its fourth-quarter profit. Cardinal Health's quarterly profit dropped to $202.7 million, or $0.57 per share, from $223.5 million, or $0.62 per share, in the year-earlier period. Its adjusted earnings came in at $0.59 per share. Its revenue surged 9% to $26.8 billion. However, analysts were expecting earnings of $0.58 per share on revenue of $26.2 billion. Cardinal Health projects 2012 adjusted earnings of $3.04 to $3.19 per share.

NRG Energy Inc (NYSE: <a class="ticker" href="/stock/nrg#NYSE">NRG</a>) reported a rise in its second-quarter profit. NRG reported its quarterly profit at $621 million, or $2.53 per share, up from $211 million, or $0.81 per share, in the year-earlier period. Its revenue climbed to $2.28 billion from $2.13 billion. Analysts were expecting earnings of $0.38 per share on revenue of $2.2 billion. NRG lifted its 2011 stock repurchase program by $250 million.

DirecTV Group (NASDAQ: <a class="ticker" href="/stock/dtv#NASDAQ">DTV</a>) reported a rise in its profit rose for the second quarter. DirecTV's quarterly net income climbed to $701 million, or $0.91 per share, up from $543 million, or $0.42 per share, in the year-ago period. Its revenue surged to $6.6 billion, versus analysts' estimates of $6.5 billion. DirecTV added 26,000 US subscribers in the quarter.

Church &amp; Dwight Co (NYSE: <a class="ticker" href="/stock/chd#NYSE">CHD</a>) reported an 11% surge in its second-quarter earnings. Church &amp; Dwight reported its quarterly profit at $82.6 million, or $0.57 per share, up from $74.3 million, or $0.51 per share, in the year-ago period. However, analysts were expecting earnings of $0.56 per share. Its net sales rose 5.3% to $674.9 million.

Alpha Natural Resources Inc (NYSE: <a class="ticker" href="/stock/anr#NYSE">ANR</a>) swung to a second-quarter loss. Alpha posted a quarterly loss of $56.4 million, or $0.36 per share, versus a year-ago profit of $38.8 million, or $0.32 per share. Excluding one-time items, Alpha's income from continuing operations came in at $0.96 per share. Its revenue climbed 59% to $1.59 billion. However, analysts were expecting earnings of $1.08 per share on revenue of $1.51 billion. 

Fortune Brands Inc (NYSE: <a class="ticker" href="/stock/fo#NYSE">FO</a>) reported a drop in Q2 earnings from continuing operations. Fortune's earnings from continuing operations, excluding charges and gains, came in at $0.71 per share, versus $0.74 per share, in the year-ago period. Fortune's net income rose to $330 million, or $2.09 per share, from $229.4 million, or $1.49 per share, in the year-ago period. Its sales from continuing operations climbed 5% to $1.59 billion.

Cooper Tire &amp; Rubber Co (NYSE: <a class="ticker" href="/stock/ctb#NYSE">CTB</a>) reported a 74% drop in its second-quarter profit. Cooper Tire reported its quarterly earnings at $11.5 million, or $0.18 per share, down from $44.1 million, or $0.70 per share, in the year-ago period. Its revenue climbed 15% to $922 million. However, analysts were expecting earnings of $0.41 per share on revenue of $980 million.

SCANA Corp (NYSE: <a class="ticker" href="/stock/scg#NYSE">SCG</a>) reported downbeat second-quarter earnings. SCANA posted its quarterly profit at $56 million, or $0.44 per share, up from $54 million, or $0.43 per share, in the year-ago period. Its revenue surged 6.5% to $1 billion. However, analysts were expecting earnings of $0.48 per share on revenue of $918 million. SCANA's operating margin narrowed to 14.2% from 14.6%.

Swiss Reinsurance Co (OTC: <a class="ticker" href="/stock/swcey#OTC">SWCEY</a>) reported an 18% rise in its second-quarter net profit. Swiss Reinsurance reported its quarterly net profit at $960 million, or $2.74 per share, up from $812 million, or $1.85 per share, in the year-earlier period. Its revenue surged 41% to $7.4 billion. However, analysts were expecting a net profit of $548.4 million.

Lloyds Banking Group PLC (NYSE: <a class="ticker" href="/stock/lyg#NYSE">LYG</a>) swung to a first-half net loss on Thursday. Lloyds Banking posted a net loss of 2.31 billion pounds ($3.79 billion), versus a profit of 596 million pounds, in the year-ago period. In its core business, its pretax profit dropped 28% to 2.66 billion pounds and declined 6% on an underlying basis to 2.9 billion pounds.

Rio Tinto Ltd (NYSE: <a class="ticker" href="/stock/rio#NYSE">RIO</a>) reported a 30% rise in its first-half net profit. Rio Tinto reported its net profit at $7.59 billion. Its revenue surged to $29.1 billion, from $24.5 billion, in the year-ago period. It also increased its share buy-back program by $2 billion to $7 billion. 

ING Groep NV (NYSE: <a class="ticker" href="/stock/ing#NYSE">ING</a>) reported a 24% rise in its second-quarter net profit. ING's quarterly net profit surged to 1.51 billion euros ($2.16 billion). However, analysts were expecting a net profit of 1.44 billion euros.

Aviva PLC (OTC: <a class="ticker" href="/stock/aivaf#OTC">AIVAF</a>) reported a 5% surge in its first-half operating profit. Aviva's operating profit on an IFRS basis rose to GBP1.34 billion, from GBP1.27 billion, in the year-ago period. However, analysts were expecting an operating profit of GBP1.28 billion. Aviva also lifted its interim dividend by 5% to 10 pence per share, versus 9.5 pence, in the year-ago period.

Unilever NV (NYSE: <a class="ticker" href="/stock/un#NYSE">UN</a>) reported a 10% rise in its first half earnings. Unilever's net profit surged to euro2.235 billion ($3.12 billion), from euro2.035 billion, in the year-ago period. Its sales climbed 4.1% to euro22.1 billion. Unilever said "underlying" sales growth was 7.1% in the second quarter. Unilever's Q2 total sales climbed to EUR11.93 billion, from EUR11.75 billion, in the year-ago period.

Deutsche Telekom AG (OTC: <a class="ticker" href="/stock/dtegy#OTC">DTEGY</a>) reported a decline in its second-quarter operating profit. Deutsche Telekom's earnings before interest, taxes, depreciation, amortization and one-off items, or adjusted EBITDA, fell 2.6% to EUR3.79 billion. Its sales dropped 3.3%. Deutsche Telekom's European unit reported an 8% decline in its operating profit.

Aviva PLC (OTC: AIVAF) reported a 5% surge in its first-half operating profit.

Aviva's operating profit on an IFRS basis rose to GBP1.34 billion, from GBP1.27 billion, in the year-ago period. However, analysts were expecting an operating profit of GBP1.28 billion. 

Aviva also lifted its interim dividend by 5% to 10 pence per share, versus 9.5 pence, in the year-ago period.

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Latest News for Aviva Stock (OTC:AIVAF)

Monday, September 25, 2023

Thursday, August 04, 2011