Alleghany, Mitcham, Fomento Economico Mexicano, Coca-Cola FEMSA and The Coca-Colaas Zacks Bull and Bear of the Day
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Rising estimates resulting from an excellent quarterly performance have sent this insurer to
About the Company
Alleghany Corporation (NYSE:Y-Free Report) is a multi-line insurance company, operating through its subsidiaries,
The company reported its second-quarter 2013 results on
The company has delivered a positive surprise in all of the previous four quarters, with an average quarterly surprise of 62.2%.
Better than expected earnings were a result of increase in net investment income (up 10.5% year over year) and lower costs and expenses.
A decline in net loss and loss adjustment expenses, other operating expenses and corporate administration also aided the improvement. Alleghany's combined ratio for the 2013 second quarter was 92.6%, compared with 83.9% in the 2012 second quarter.
Bear:
Mitcham Industries (Nasdaq:MIND-Free Report) specializes in leasing and sale of advanced seismic equipment that help oil companies explore for pockets of oil.
The company operates in two segments: equipment leasing and equipment manufacturing. Founded in 1987, the company now has nine locations around the world, providing support and service to geophysical contractors.
Disappointing Second Quarter Results
MIND reported its fiscal 2014 second quarter ended July 31, 2013 financial results on
Total revenues for the quarter were $20.9 million down from $23.1 million in the year-ago quarter. The Company reported a net loss of $693,000, or $(0.05) per share, compared to net income of $1.1 million, or $0.08 per diluted share in the comparable quarter of fiscal 2013.
Additional content:
Moving ahead with its strategy of business expansion, Fomento Economico Mexicano SAB de CV (NYSE:FMX-Free Report) or FEMSA's retail subsidiary â FEMSA Comercio â has agreed to buy a majority stake in the fast-food restaurant chain
The transaction is still in its early stage and awaits certain customary regulatory approvals. Details about the transaction have not been provided. The
The co-owner of Coca-Cola FEMSA S.A.B de C.V. (NYSE:KOF-Free Report), which is the world's largest franchise bottler of The Coca-Cola Company (NYSE:KO-Free Report) products, is taking prudent steps to diversify its product portfolio while expanding its small-box retail segment, which augurs well for future operating performance.
We observe that FEMSA has been diversifying its retail chain format operations and acquiring businesses across
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