I'm heading to an open house this weekend for a fixer-upper in the suburbs. Can't wait to see if it has potential! Anyone else checking out homes?
The Travelers Companies just put up a monster quarter: Q2 core EPS of $10.04 smashed estimates by 88%, catastrophe losses fell nearly in half year-over-year, and the combined ratio improved to a stellar 83.6%. Underwriting income hit $1.7 billion pre-tax โ about as good as it gets in the insurance business. Not financial advice. Does the drop in nat-cat losses make TRV a structural buy, or is this a one-quarter gift you sell into?
Reuters reports that Stripe and private equity firm Advent International have teamed up on a joint takeover offer for PayPal at $60.50/share โ roughly a 28% premium โ valuing the company at over $53 billion. PYPL was up more than 15% in pre-market on the news, which would rank as one of the largest fintech acquisitions ever if it closes. Do you think the deal gets done, or will regulators pump the brakes on Stripe swallowing PayPal? Not financial advice.