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The Allstate Corp. (ALL) reported estimated catastrophe losses for the month of May of $473 million, pre-tax ($374 million, after-tax). The estimated catastrophe losses for the months of April and May, in total, was $763 million, pre-tax ($603 million after-tax). The company noted that the catastrophe...

Homebuilder KB Home (KBH) announced Thursday the grand opening of Oakmont, its latest collection of new single-family homes in Georgetown. Convenient to Interstate 35 and Highway 29 for quick commuting throughout Georgetown, Round Rock and downtown Austin, Oakmont offers easy access to area employers...

Commercial Metals Company (CMC) reported that its third-quarter adjusted earnings from continuing operations, excluding items, improved 64% from prior year. Revenue increased 33% on a year-over-year basis driven by the growth strategy and strong fundamentals in the company's core markets. For the...

Senior executive leaders from Airbus Group N.V. (EADSY.PK) and Lockheed Martin Corp. (LMT) reaffirmed on Thursday an agreement in place to explore U.S. military tanking opportunities during the 2019 Paris Air Show. The executives met for some "tanker talk" on the sidelines of the Air Show. The Airbus...

The Kroger Co. (KR) reported first-quarter earnings that matched analysts' estimates. Total sales, excluding fuel and the effect of selling the convenience store business unit, increased 2.0% year-on-year. Looking forward, Kroger Co. confirmed identical sales, operating profit and EPS guidance for 2019....

Xinyuan Real Estate Co. Ltd. (XIN) said that its board approved Lizhou Zhang's resignation as the company's Chief Executive Officer and as a member of the Board of Directors due to personal reasons, effective immediately. Yong Zhang will serve as both Chairman and Chief Executive Officer of the company,...

Starboard Value LP, which owns about 4.0% of AECOM's (ACM) outstanding shares, viewed AECOM's announced intention to separate its Management Services segment as a positive first ftep but believed an expansive and open-minded strategic review of the company's assets is necessary. In a letter to AECOM...

Merck (MRK) said it targets to deliver strong revenue growth every year in the next five years, including 2023. Merck will continue to evolve its operating model to maximize revenue potential to drive meaningful operating margin expansion. Merck noted that it made investments in infectious diseases,...

While reporting financial results for the fourth quarter on Thursday, Darden Restaurants, Inc. (DRI) initiated financial outlook for the full-year 2020, with is a 53-week fiscal year. The outlook includes the impact of the additional week. For fiscal 2020, the company projects net earnings from continuing...

Carnival Corporation & plc (CCL, CCL.L, CUK) reported second-quarter adjusted earnings which were better than the company's March guidance by $0.08 per share substantially due to the timing of expenses between quarters. The company said its second-quarter earnings included revenue growth from higher...

Entergy Corp. (ETR) has been notified on Thursday of an unsolicited mini-tender offer by TRC Capital Corp. to acquire up to 1 million shares of Entergy common stock, representing about 0.53% of Entergy's outstanding shares as of April 30, 2019. TRC's offer price of $97.50 is 4.45% below the closing...

Vera Bradley, Inc. (VRA) has agreed to purchase 75% ownership of Creative Genius, Inc. (which operates under the name Pura Vida) for $75 million, and up to $22.5 million in incremental earnout consideration. Vera Bradley has the right to acquire the remaining stake five years post-closing. Vera Bradley...

Noble Group Ltd (NOBGF.PK), a Hong Kong-based commodities trader, is taking a stake in Australia's Arafura Resources Limited (ARAFF.PK, ARU.AX). Arafura Resources shares were trading down 20.8 percent. In a statement, Arafura Resources announced a fully underwritten 7 for 20 non-renounceable entitlement...

Eros International Plc (EROS) said that it will evaluate and explore strategic alternatives for the company. Eros has engaged Citigroup Global Markets Inc. as its strategic advisor and Gibson, Dunn & Crutcher LLP as legal advisor. "There can be no assurance that this review process will result in...

Pacific Gas and Electric Company, a PG&E Corp. (PCG) unit, has resolved to settle the 2015, 2017 and 2018 wildfire claims by signing agreements with 18 public agencies. The settlement payment of $1 billion will be made as part of a Chapter 11 plan of reorganization subject to Bankruptcy Court confirmation....

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