More earnings releases from my holdings:
Wellpoint (WLP) reported Q2 earnings of $2.64 and raised the
year's earnings forecast to $8.00. Since
the news, the stock has barely budged
at around $85. In their conference call, they emphasized they
are expecting excellent growth in their medicare business
because of Obamacare. Overall, management expects
revenue to grow from the current $71B to $90B by 2016,
in no small part due to
Obamacare! This is the first quarter under the new CEO Joe Swedish. I liked hearing his plans to squeeze more efficiency out of the company.
AIG reported quarterly earnings of $1.12. AIG stock jumped to
$48.33 on the news. AIG book value is $66 per share.
In the earnings release,
the company generated a lot of press when it declared a
$0.10 dividend. This marks a milestone
as this is the first time AIG returned capital to
shareholders since the bleak days when it was bailed out.
Kansas City Life Insurance (KCLI) reported earnings of $0.98
for Q2 2013. They earned $1.45 for the half year. The stock trades
at $42.88 which is only about 2/3 of book value.
The stock has risen about 15% since I first wrote about it and
bought. I am waiting the stock price to inch closer to book.
Chevron (CVX) reported Q2 earnings of $2.77 per share versus $3.66 a year
ago. Earnings for the half year is $5.95 per share versus $6.93 a
year ago. The company is diversifying into natural gas. The
company needs new sources of revenue. This is just the
volatile business of energy (or any other resource). CVX
is one of my oldest holdings and I am not concerned about the
earnings blip.
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