Plus   Neg

Allstate Corp. Reports Estimated Catastrophe Losses - Quick Facts

Allstate Corp. (ALL) reported estimated catastrophe losses for the month of
December of $25 million, pre-tax ($20 million, after-tax). This brings the estimated
catastrophe losses for the fourth quarter to $295 million, pre-tax ($233
million, after-tax).

Allstate Corp. also noted that its Transformative Growth Plan resulted in a $51 million, pre-tax charge ($40 million, after-tax) in the fourth quarter for impairment of the Esurance trade name intangible asset from the 2011 acquisition. The company noted that this amount will reduce net income but will be excluded from adjusted net income.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Delta Air Lines Inc. said Friday that it will invest $1 billion over the next decade to mitigate all greenhouse gas emissions from its global business, starting March 1, 2020. The company intends to become the first airline in the world to go carbon neutral. The airline said that over the next decade, it will spend $1 billion to drive innovation and advance clean-air travel technologies. Crown Castle International Corp. (REIT) (CCI) is currently gaining over 1% on Friday morning. Early this week, a U.S. District judge ruled in favor of Sprint and T-Mobile's long-pending $26 billion merger deal. The judge dismissed a lawsuit brought by a group of State Attorneys General. The deal is... Online furniture retailer Wayfair Inc. is cutting 550 jobs, or about 3 percent of its workforce, reports on Thursday quoted a company spokesperson as saying. The job cuts will impact about 350 employees at Wayfair's corporate headquarters in Boston. The company has more than 16,000 employees globally. Wayfair's shares tumbled 14 percent in Thursday's trading session following news of the job cuts.
Follow RTT