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MetLife Inc. (MET.N: Quote, Profile, Research), the largest U.S. life insurer, guided 2006 and 2007 earnings estimates down slightly on Wednesday, pressuring its shares. MetLife said it expected to report operating earnings of $1.10 to $1.20 a share for the fourth quarter, and $5.05 to $5.30 a share for all of 2007. Both forecasts were at the lower end of analysts' expectations, averaging $1.19 a share for the fourth quarter and $5.29 for 2007, according to Reuters Estimates. Insurance industry analysts use operating earnings rather than final net earnings as their main performance yardstick. The New York-based insurer also said at an investor meeting that it expected to have a 2007 return on equity of 12.1 percent to 12.7 percent. On Tuesday, Prudential Financial Inc. (PRU.N: Quote, Profile, Research) , MetLife's biggest U.S. competitor, forecast a return on equity of 15 to 17 percent over the next three years. In late trading, MetLife shares were down 22 cents, or 0.4 percent, at $58.36 after falling as low as $57.57.
Source: Reuters.com

Labels: Insurance, Metal, MetLife Inc., PRU, Prudential Financial Inc., Stocks

MetLife Inc. (MET.N: Quote, Profile, Research), the largest U.S. life insurer, guided 2006 and 2007 earnings estimates down slightly on Wednesday, pressuring its shares. MetLife said it expected to report operating earnings of $1.10 to $1.20 a share for the fourth quarter, and $5.05 to $5.30 a share for all of 2007. Both forecasts were at the lower end of analysts' expectations, averaging $1.19 a share for the fourth quarter and $5.29 for 2007, according to Reuters Estimates. Insurance industry analysts use operating earnings rather than final net earnings as their main performance yardstick. The New York-based insurer also said at an investor meeting that it expected to have a 2007 return on equity of 12.1 percent to 12.7 percent. On Tuesday, Prudential Financial Inc. (PRU.N: Quote, Profile, Research) , MetLife's biggest U.S. competitor, forecast a return on equity of 15 to 17 percent over the next three years. In late trading, MetLife shares were down 22 cents, or 0.4 percent, at $58.36 after falling as low as $57.57.
Source: Reuters.com

Labels: Insurance, Metal, MetLife Inc., PRU, Prudential Financial Inc., Stocks

Stock in U.S. steel makers rose on Monday after the world's biggest manufacturer said price weakness in North America had bottomed-out and 2007 profits were expected to surge.
Analysts also pointed to recent comments by Jim Cramer, a stock commentator on cable TV's CNBC, who was bullish on steel makers and processors. The biggest gainer among steel manufacturers was Nucor Corp. (NUE.N: Quote, Profile , Research), whose stock rose $4.53, or 7.73 percent, to $63.17 on the New York Stock Exchange in afternoon trading. US Steel Corp. (X.N: Quote, Profile , Research) was up 2.75 percent and Mittal Steel Co. NV (MT.N: Quote, Profile , Research) rose 1.29 percent. On the Nasdaq, Steel Dynamics Inc. (STLD.O: Quote, Profile , Research) rose 5.66 percent. Earlier in Amsterdam, Arcelor Mittal's (CELR.PA: Quote, Profile , Research)(ISPA.AS: Quote, Profile , Research) Chief Financial Officer, Aditya Mittal, told a conference the company expects to be able to increase profits in 2007 and that it would be better than 2006. He said price weakness in the United States in the fourth quarter had already bottomed out, while prices in Europe should start to recover in the first quarter of 2007. Mittal said he believed the steel sector as a whole would have a good year in 2007, given strong demand, solid economic growth and higher prices for steel used in making cars.
Also rising on Monday were the stocks of specialty metals and steel processing companies and analysts suggested it was a result of the positive steel comments. Also they cited the announcement by Airbus parent EADS (EAD.PA: Quote, Profile , Research) that it would go ahead with a new model of the A350 airliner, which will use lighter materials, including titanium and other metals. Allegheny Technologies Inc. (ATI.N: Quote, Profile , Research) , which last week said it expects strong growth in the specialty metals sector, saw its stock rise $4.86, or 5.52 percent, to $92.92 on the NYSE on Monday afternoon. Titanium Metals Corp. (TIE.N: Quote, Profile , Research) stock rose 4.13 percent and RTI International Metals Inc. (RTI.N: Quote, Profile , Research) was up 3.4 percent.
Source: Reuters.com

Labels: ATI, CELR, EAD, Hot Stocks, ISPA, Metal, MT, NUE, RTI, Steel, STLD, Stock Market, TIE, X