Thursday, June 08, 2000
Tristate Business Summary
Storms may lower insurer's earnings
Cincinnati Financial Corp., a property and casualty insurer, said Wednesday that it expects to post second-quarter pretax catastrophe losses of $25.3 million after a series of spring storms.
The Fairfield-based insurer said the losses are likely to lower earnings by about 10 cents a share.
Cincinnati Financial closed at $39.311/4 Wednesday, up $1.75.
Convergys makes acquisition
Convergys, a Cincinnati-based outsourcer of customer service and billing, finalized the acquisition of MAXWorldwide LLC on Tuesday for an undisclosed sum. A 65-person, Herdon, Va., company, MAXWorld provides consumer experts such as plumbers, auto mechanics and electricians to help field calls from end-users.
Convergys (CVG) hit a 52-week high on Tuesday, trading as high as $50.50 before closing at 48.183/4.
— From staff and wire reports
Updated Microsoft breakup coverage from Associated Press
Delta, American discussing merger?
European airlines join merger mania
Alliance Laundry shrinking work force
New P&G facility praised
Index puts Convergys in spotlight
Mitsubishi to announce $27M expansion in Mason
Tool awards boost grads
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