Analysts surveyed by Thomson Reuters expected Humana to earn $2.06 a share in the second quarter on revenue of $9.35 billion. Shares were rising 5.5% to $78.68 in premarket trading Monday.
NEW YORK (TheStreet)-- Humana (HUM), the health insurer, said Monday second-quarter earnings rose 35% and it raised its guidance for 2011. Adjusted income in the second quarter was $2.50 a share. Revenue in the quarter rose 8% to $9.28 billion, with total premiums and services revenue also up 8%.
HSBC ( HBC), Europe's largest bank, said Monday it has cut 5,000 jobs and has plans to cut 25,000 more as it targets $2.5 billion to $3.5 billion of savings by 2013. On Sunday, HSBC said it planned to sell 195 retail bank branches, most located in upstate New York, to First Niagara Bank ( FNFG) in a deal worth about $1 billion. The sale is part of HSBC's bank's strategy to shift its focus to commercial and corporate banking and away from retail banking across the globe. Shares were popping 3.9% to $50.75 in premarket trading Monday.
Private education provider Apollo Group ( APOL) has been added to Goldman Sachs' conviction buy list. Apollo shares were rising 2.8% to $52.23.
Peabody Energy ( BTU) and ArcelorMittal ( MT) said Monday they are launching a hostile A$4.7 billion ($5.2 billion) takeover bid for Australia's Macarthur Coal. ArcelorMittal shares were rising 1.8% to $31.72 and Peabody shares were up 1.8% to $58.50.
Conglomerate General Electric ( GE) and a partner have agreed to sell shipping-container lessor GE SeaCo for $1.05 billion to China-based HNA Group and Bravia Capital, Bloomberg reported. GE shares were up 1.7% to $18.21.
Insurance company Allstate ( ALL) said Monday it swung to a second-quarter loss of $620 million, or $1.19 a share, as it recorded $2.3 billion in catastrophe losses. Allstate said the adjusted loss in the quarter was $1.23 a share. Analysts surveyed by Thomson Reuters expected a loss of $1.56 a share.
Sohu.com ( SOHU) shares were rising 3.7% to $93.47 after the Chinese online media company reported that second-quarter earnings rose to $42.7 million, or $1.10 a share from $31.3 million, or 82 cents, a year ago. Analysts on average were expecting net income of $50 million.
Exterran Partners ( EXLP ), the provider of natural gas contract operations services, announced a dividend of 48.25 cents, up from 47.75 cents in the first quarter and 46.25 in the second quarter a year ago. -- Written by Andrea Tse in New York. >To contact the writer of this article, click here: Andrea Tse.