Diamonds and Dogs
MetLife (MET) doing better than the Mets. The US Insurer is up 3% to a seven month high following better than expected earnings buoyed by strong underwriting, volume growth and higher investment income. Premiums and fees rose 2 percent to $11.26 billion in the first quarter from a year earlier, while net investment income jumped 31 percent to $4.91 billion. Life insurers division had a good quarter investing their premiums in stocks and bonds. Sounds like the Warren Buffett model .
Fluor (FLR) has no floor. The engineering, construction and operations company is down 24% to a new 52 week low after missing earnings estimates and reporting a loss. Revenue fell 13.1% year over year to $4.19 billion. Fluor also cut guidance for the full year while taking a charge for business that is getting pushed out to 2020. The CEO is stepping down and the former chairman will step in to the position until a new CEO is selected. Looks like a long year for Fluor.
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