Virgin Galactic Holdings Inc SPCE shares are trading lower by 11.5% Thursday morning after Richard Branson cut his stake in the company by $150 million.
Virgin Galactic is a vertically integrated aerospace company, pioneering human spaceflight for private individuals and researchers, as well as a manufacturer of advanced air and space vehicles.
Progressive Corp PGR reported quarterly earnings of $2.51 per share which beat the analyst consensus estimate of $1.72 by 45.9%. This is a 114.5% increase over earnings of $1.17 per share from the same period last year.
Progressive underwrites private and commercial auto insurance and specialty lines; it has over 20 million personal auto policies in force and is the fourth-largest auto insurer in the United States.
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