Tower Group (TWGP) 2.20 $TWGP
Tower Group Revises Merger Terms with ACP Re - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Fri May 09, 3:20PM CDT
Tower Group International, Inc. (TWGP) amends the terms of its alliance with ACP Re Ltd., a Bermuda-based reinsurance company.
A.M. Best Downgrades Ratings of Tower Group International, Ltd. and Its Subsidiaries
Business Wire - Fri May 09, 10:46AM CDT
A.M. Best has downgraded the financial strength ratings (FSR) to C++ (Marginal) from B (Fair) and issuer credit ratings (ICR) to "b" from "bb" of the pooled and reinsured members of the Tower US Pool (Tower) and CastlePoint Reinsurance Company, Ltd. (Bermuda). Concurrently, A.M. Best has downgraded the ICR to "cc" from "b-" and the debt rating on the $150 million par 5.00% senior unsecured convertible notes due September of 2014, for the intermediate holding company, Tower Group, Inc. Additionally, A.M. Best has downgraded the ICR to "cc" from "b-" of the ultimate parent, Tower Group International, Ltd. (TWGP) (Bermuda) [NASDAQ:TWGP]. All ratings are under review with developing implications. All companies are headquartered in New York, NY, unless otherwise specified. (See below for detailed listing of the companies and ratings.)
Upgrade Alert for Tower Group (TWGP)
Comtex SmarTrend(R) - Fri May 09, 6:57AM CDT
Tower Group (NASDAQ:TWGP) was upgraded from Underperform to Market Perform at Keefe Bruyette today. The stock closed yesterday at $2.31 on volume of 6.0 million shares, above average daily volume of 641,000. Tower Group, Inc. provides property and casualty insurance and insurance services. The Company offers property and casualty commercial and personal lines products and services in select markets not well served by other carriers.
Why Tower Group International (TWGP) Stock Is Soaring Today
at The Street - Thu May 08, 10:32AM CDT
Tower Group International (TWGP) stock is surging Thursday after the company and ACP Re entered into an amendment to the merger agreement originally announced January this year.
Tower Group International, Ltd. and ACP Re, Ltd. Announce Amendment to Merger Agreement
Business Wire - Thu May 08, 8:33AM CDT
Tower Group International, Ltd. (NASDAQ:TWGP) ("Tower"
and ACP Re, Ltd. ("ACP Re" announced today that they have entered into an amendment to the merger agreement entered into by them on January 3, 2014. The amendment, among other things, (1) reduces the per share consideration to be received by holders of Tower's common shares in the merger from $3.00 per share to $2.50 per share, (2) reduces the termination fee that Tower would, under certain circumstances, be required to pay to ACP Re in the event of a termination of the merger agreement, (3) extends to November 15, 2014 both the date by which Tower must hold its shareholders meeting to vote on the merger and the deadline for completing the merger before either party can terminate the merger agreement, (4) excludes from the material adverse effect closing condition any continued adverse results of Tower's operations or deterioration of its financial condition resulting from (a) losses and loss adjustment expenses incurred under new, renewal or in-force insurance and reinsurance related policies, insurance and reinsurance related contracts, and insurance and reinsurance related binders, (b) operating expenses, including acquisition expenses, associated with maintaining Tower's agency relationships, employees and facilities to operate its business in the ordinary course or (c) the insufficiency of Tower's loss reserves (including IBNR reserves), (5) also excludes from the material adverse effect closing condition any effect resulting from facts or circumstances disclosed in any of Tower's previous SEC filings, (6) eliminates the condition that holders of shares representing more than 15% of Tower's share capital shall not have exercised dissenter's rights, (7) provides that the closing condition requiring that each of Tower's U.S. insurance subsidiaries shall have risk based capital that is equal to or exceeds its relevant company action level risk based capital will be deemed to have been satisfied if Tower and its subsidiaries have, on a consolidated basis, sufficient capital that could be reallocated among Tower's insurance subsidiaries so that such condition could be satisfied and (
provides that all of Tower's representations and warranties in the Merger Agreement will be qualified by disclosures made in Tower's previous SEC filings.
Stock to Watch: Tower Group Down 8.7% (TWGP)
Comtex SmarTrend(R) - Wed May 07, 10:13AM CDT
Tower Group (NASDAQ:TWGP) is one of today's worst performing low-priced stocks, down 8.7% to $2.04 on 1.3x average daily volume. Thus far today, Tower Group has traded 847,000 shares, vs. average volume of 641,000 shares per day. The stock has underperformed the Dow (-8.7% to the Dow's 0.1%) and underperformed the S&P 500 (-8.7% to the S&P's -0.0%) during today's trading.
Downgrade Alert for Tower Group (TWGP)
Comtex SmarTrend(R) - Wed May 07, 6:56AM CDT
Tower Group (NASDAQ:TWGP) was downgraded from Market Perform to Underperform at Keefe Bruyette today. The stock closed yesterday at $2.23 on volume of 1.6 million shares, above average daily volume of 641,000. There is potential upside of 34.5% for shares of Tower Group based on a current price of $2.23 and an average consensus analyst price target of $3.00. The stock should run into initial resistance at its 50-day moving average (MA) of $2.65 and subsequent resistance at its 200-day MA of $6.34.
Insurance Equities Technical Data -- Research on Loews, Genworth Financial, Symetra Financial, and Tower Group Intl.
PR Newswire - Tue Apr 29, 12:19PM CDT
The U.S. stock markets on Monday, April 28, 2014 mostly ended on a higher note as the Dow Jones Industrial Average finished at 16,448.74, up 0.53%, the NASDAQ Composite closed at 4,074.40, down 0.03%, and the S&P 500 finished the session 0.32% higher at 1,869.43. The gains were broad based with seven out of ten sectors edging higher. The S&P 500 Financials Sector Index ended the day at 292.68, down 0.56%, while the index has advanced 2.23% in the previous three months. Investor-Edge has initiated coverage on the following equities: Loews Corp. (NYSE: L), Genworth Financial Inc. (NYSE: GNW), Symetra Financial Corp. (NYSE: SYA) and Tower Group International Ltd (NASDAQ: TWGP). Free technical research on L, GNW, SYA and TWGP can be downloaded upon signing up at:
Updated Research Report on Tower Group - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Thu Apr 10, 3:55PM CDT
Tower Group is facing a number of negative issues. These include mounting losses, reserve shortfall and job cuts.
Technical Roundup on Insurance Stocks -- Research on ACE Ltd, Axis Capital Holdings, Maiden Holdings, and Tower Group Intl.
PR Newswire - Fri Mar 28, 2:47AM CDT
On Wednesday, March 26, 2014, the NASDAQ Composite ended at 4,173.58, down 1.43%, the Dow Jones Industrial Average fell 0.60% to finish at 16,268.99, and the S&P 500 closed at 1,852.56, down 0.70%. The losses were broad based with nine out of ten sectors ending the session in negative. The S&P 500 Financials Sector Index finished the day at 298.79, down 0.94%, whereas the index has gained 3.40% in the last one month. Investor-Edge has initiated coverage on the following equities: ACE Ltd (NYSE: ACE), Axis Capital Holdings Ltd (NYSE: AXS), Maiden Holdings Ltd (NASDAQ: MHLD) and Tower Group International Ltd (NASDAQ: TWGP). Free technical research on ACE, AXS, MHLD and TWGP can be downloaded upon signing up at:
TOWER GROUP SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Large Interests of Lead Plaintiff Deadline in Class Action Lawsuit Against Tower Group International, Ltd. - TWGP
GlobeNewswire - Fri Mar 21, 9:31PM CDT
Kahn Swick & Foti, LLC ("KSF" and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 19, 2014 to file lead plaintiff applications in a securities class action lawsuit against Tower Group International, Ltd. (Nasdaq:TWGP), on behalf of shareholders of Tower Group as of January 6, 2014. This action is pending in the United States District Court for the Southern District of New York.
The Law Office of Robbins Arroyo LLP Announces Class Action Lawsuit Against Tower Group International, Ltd.
PR Newswire - Thu Mar 20, 7:41PM CDT
Shareholder rights attorneys at Robbins Arroyo LLP announce that the firm filed a class action lawsuit on February 27, 2014, in the U.S. District Court, Southern District of New York (the "Court", on behalf of the shareholders of Tower Group International, Ltd. ("Tower Group" (NASDAQ: TWGP) against Tower Group, its Board of Directors, ACP Re, Ltd. ("ACP Re", AmTrust Financial Services, Inc., and London Acquisition Company Limited for, among other things, violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 (the "Exchange Act" in connection with the proposed acquisition of Tower Group by ACP Re.
Tower Group Down to Sell - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Thu Mar 13, 3:40PM CDT
On Mar 11, 2014, Zacks Investment Research downgraded Tower Group Internationalto a Zacks Rank #4 (Sell).
Tower Group receives Nasdaq notice concerning listing requirements
M2 - Mon Mar 10, 6:48AM CDT
A Bermuda based diversified insurance and reinsurance holding company, Tower Group International Ltd (NASDAQ:TWGP) received a non-compliance notification letter from the Nasdaq Listing Qualification Department (Nasdaq) on 5 March 2014, due to non-filing of its Annual Report on Form 10-K for the period ended 31 December 2013 (the 10-K), with the US Securities and Exchange Commission (SEC), it declared on Friday.
Tower Group International Receives Nasdaq Notice Regarding Listing Requirements
Business Wire - Fri Mar 07, 3:30PM CST
Tower Group International, Ltd. (NASDAQ:TWGP) announced today that it received a notification letter from The Nasdaq Listing Qualification Department ("Nasdaq" on March 5, 2014, stating that because the Company has not yet filed its Annual Report on Form 10-K for the period ended December 31, 2013 (the "10-K" with the Securities and Exchange Commission ("SEC", it was not in compliance with the continued listing requirements under Nasdaq Listing Rule 5250(c)(1). This press release is being issued in accordance with Nasdaq Listing Rule 5810(b).
AmTrust: A Strong Buy - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Tue Feb 18, 2:10PM CST
On Feb 14, Zacks Investment Research upgraded AmTrust Financial Services Inc. by a notch to a Zacks Rank #1 (Strong Buy).
5 Hated Stocks That Could Get Squeezed Much Higher
at The Street - Fri Feb 14, 7:59AM CST
These heavily shorted stocks are candidates for monster short squeezes.
SRA Named 2014 Healthiest 100 Workplaces Award Winner by Healthiest Employers
Business Wire - Wed Feb 12, 7:30AM CST
SRA International, Inc., a leading provider of IT solutions and professional services to government organizations, today announced that Healthiest Employers, the leader in employee health analytics, best practices and benchmark data, has inducted the company into the 2014 Healthiest 100 Workplaces in America. Every one of the employers named has achieved remarkable and sustainable success through a broad range of corporate wellness programs and employee wellness initiatives.
Tower Group International, Ltd. Reports Third Quarter 2013 Results
Business Wire - Tue Feb 11, 4:32PM CST
Tower Group International, Ltd. (NASDAQ:TWGP) today announced financial results for the third quarter and first nine months of 2013. These results reflect the third reported quarter of results following the March 13, 2013 merger between Tower Group, Inc. (TGI) and Canopius Holdings Bermuda Limited (Canopius Bermuda), which was renamed Tower Group International, Ltd. (Tower or the Company) upon completion of the merger and became the ultimate parent company. Since the merger transaction was accounted for as a reverse acquisition and recapitalization, under which TGI was identified and treated as the accounting acquirer, historical results prior to the first quarter of 2013 reflect only the financial results reported by TGI, with equity accounts and earnings per share restated to reflect Tower's new capitalization.
4 Stocks Under $10 Moving Higher
at The Street - Fri Feb 07, 8:31AM CST
When a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits.
Tower Group Revises Merger Terms with ACP Re - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Fri May 09, 3:20PM CDT
Tower Group International, Inc. (TWGP) amends the terms of its alliance with ACP Re Ltd., a Bermuda-based reinsurance company.
A.M. Best Downgrades Ratings of Tower Group International, Ltd. and Its Subsidiaries
Business Wire - Fri May 09, 10:46AM CDT
A.M. Best has downgraded the financial strength ratings (FSR) to C++ (Marginal) from B (Fair) and issuer credit ratings (ICR) to "b" from "bb" of the pooled and reinsured members of the Tower US Pool (Tower) and CastlePoint Reinsurance Company, Ltd. (Bermuda). Concurrently, A.M. Best has downgraded the ICR to "cc" from "b-" and the debt rating on the $150 million par 5.00% senior unsecured convertible notes due September of 2014, for the intermediate holding company, Tower Group, Inc. Additionally, A.M. Best has downgraded the ICR to "cc" from "b-" of the ultimate parent, Tower Group International, Ltd. (TWGP) (Bermuda) [NASDAQ:TWGP]. All ratings are under review with developing implications. All companies are headquartered in New York, NY, unless otherwise specified. (See below for detailed listing of the companies and ratings.)
Upgrade Alert for Tower Group (TWGP)
Comtex SmarTrend(R) - Fri May 09, 6:57AM CDT
Tower Group (NASDAQ:TWGP) was upgraded from Underperform to Market Perform at Keefe Bruyette today. The stock closed yesterday at $2.31 on volume of 6.0 million shares, above average daily volume of 641,000. Tower Group, Inc. provides property and casualty insurance and insurance services. The Company offers property and casualty commercial and personal lines products and services in select markets not well served by other carriers.
Why Tower Group International (TWGP) Stock Is Soaring Today
at The Street - Thu May 08, 10:32AM CDT
Tower Group International (TWGP) stock is surging Thursday after the company and ACP Re entered into an amendment to the merger agreement originally announced January this year.
Tower Group International, Ltd. and ACP Re, Ltd. Announce Amendment to Merger Agreement
Business Wire - Thu May 08, 8:33AM CDT
Tower Group International, Ltd. (NASDAQ:TWGP) ("Tower"
and ACP Re, Ltd. ("ACP Re" announced today that they have entered into an amendment to the merger agreement entered into by them on January 3, 2014. The amendment, among other things, (1) reduces the per share consideration to be received by holders of Tower's common shares in the merger from $3.00 per share to $2.50 per share, (2) reduces the termination fee that Tower would, under certain circumstances, be required to pay to ACP Re in the event of a termination of the merger agreement, (3) extends to November 15, 2014 both the date by which Tower must hold its shareholders meeting to vote on the merger and the deadline for completing the merger before either party can terminate the merger agreement, (4) excludes from the material adverse effect closing condition any continued adverse results of Tower's operations or deterioration of its financial condition resulting from (a) losses and loss adjustment expenses incurred under new, renewal or in-force insurance and reinsurance related policies, insurance and reinsurance related contracts, and insurance and reinsurance related binders, (b) operating expenses, including acquisition expenses, associated with maintaining Tower's agency relationships, employees and facilities to operate its business in the ordinary course or (c) the insufficiency of Tower's loss reserves (including IBNR reserves), (5) also excludes from the material adverse effect closing condition any effect resulting from facts or circumstances disclosed in any of Tower's previous SEC filings, (6) eliminates the condition that holders of shares representing more than 15% of Tower's share capital shall not have exercised dissenter's rights, (7) provides that the closing condition requiring that each of Tower's U.S. insurance subsidiaries shall have risk based capital that is equal to or exceeds its relevant company action level risk based capital will be deemed to have been satisfied if Tower and its subsidiaries have, on a consolidated basis, sufficient capital that could be reallocated among Tower's insurance subsidiaries so that such condition could be satisfied and ( provides that all of Tower's representations and warranties in the Merger Agreement will be qualified by disclosures made in Tower's previous SEC filings. Stock to Watch: Tower Group Down 8.7% (TWGP)
Comtex SmarTrend(R) - Wed May 07, 10:13AM CDT
Tower Group (NASDAQ:TWGP) is one of today's worst performing low-priced stocks, down 8.7% to $2.04 on 1.3x average daily volume. Thus far today, Tower Group has traded 847,000 shares, vs. average volume of 641,000 shares per day. The stock has underperformed the Dow (-8.7% to the Dow's 0.1%) and underperformed the S&P 500 (-8.7% to the S&P's -0.0%) during today's trading.
Downgrade Alert for Tower Group (TWGP)
Comtex SmarTrend(R) - Wed May 07, 6:56AM CDT
Tower Group (NASDAQ:TWGP) was downgraded from Market Perform to Underperform at Keefe Bruyette today. The stock closed yesterday at $2.23 on volume of 1.6 million shares, above average daily volume of 641,000. There is potential upside of 34.5% for shares of Tower Group based on a current price of $2.23 and an average consensus analyst price target of $3.00. The stock should run into initial resistance at its 50-day moving average (MA) of $2.65 and subsequent resistance at its 200-day MA of $6.34.
Insurance Equities Technical Data -- Research on Loews, Genworth Financial, Symetra Financial, and Tower Group Intl.
PR Newswire - Tue Apr 29, 12:19PM CDT
The U.S. stock markets on Monday, April 28, 2014 mostly ended on a higher note as the Dow Jones Industrial Average finished at 16,448.74, up 0.53%, the NASDAQ Composite closed at 4,074.40, down 0.03%, and the S&P 500 finished the session 0.32% higher at 1,869.43. The gains were broad based with seven out of ten sectors edging higher. The S&P 500 Financials Sector Index ended the day at 292.68, down 0.56%, while the index has advanced 2.23% in the previous three months. Investor-Edge has initiated coverage on the following equities: Loews Corp. (NYSE: L), Genworth Financial Inc. (NYSE: GNW), Symetra Financial Corp. (NYSE: SYA) and Tower Group International Ltd (NASDAQ: TWGP). Free technical research on L, GNW, SYA and TWGP can be downloaded upon signing up at:
Updated Research Report on Tower Group - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Thu Apr 10, 3:55PM CDT
Tower Group is facing a number of negative issues. These include mounting losses, reserve shortfall and job cuts.
Technical Roundup on Insurance Stocks -- Research on ACE Ltd, Axis Capital Holdings, Maiden Holdings, and Tower Group Intl.
PR Newswire - Fri Mar 28, 2:47AM CDT
On Wednesday, March 26, 2014, the NASDAQ Composite ended at 4,173.58, down 1.43%, the Dow Jones Industrial Average fell 0.60% to finish at 16,268.99, and the S&P 500 closed at 1,852.56, down 0.70%. The losses were broad based with nine out of ten sectors ending the session in negative. The S&P 500 Financials Sector Index finished the day at 298.79, down 0.94%, whereas the index has gained 3.40% in the last one month. Investor-Edge has initiated coverage on the following equities: ACE Ltd (NYSE: ACE), Axis Capital Holdings Ltd (NYSE: AXS), Maiden Holdings Ltd (NASDAQ: MHLD) and Tower Group International Ltd (NASDAQ: TWGP). Free technical research on ACE, AXS, MHLD and TWGP can be downloaded upon signing up at:
TOWER GROUP SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Large Interests of Lead Plaintiff Deadline in Class Action Lawsuit Against Tower Group International, Ltd. - TWGP
GlobeNewswire - Fri Mar 21, 9:31PM CDT
Kahn Swick & Foti, LLC ("KSF"
and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 19, 2014 to file lead plaintiff applications in a securities class action lawsuit against Tower Group International, Ltd. (Nasdaq:TWGP), on behalf of shareholders of Tower Group as of January 6, 2014. This action is pending in the United States District Court for the Southern District of New York. The Law Office of Robbins Arroyo LLP Announces Class Action Lawsuit Against Tower Group International, Ltd.
PR Newswire - Thu Mar 20, 7:41PM CDT
Shareholder rights attorneys at Robbins Arroyo LLP announce that the firm filed a class action lawsuit on February 27, 2014, in the U.S. District Court, Southern District of New York (the "Court"
, on behalf of the shareholders of Tower Group International, Ltd. ("Tower Group" (NASDAQ: TWGP) against Tower Group, its Board of Directors, ACP Re, Ltd. ("ACP Re", AmTrust Financial Services, Inc., and London Acquisition Company Limited for, among other things, violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 (the "Exchange Act" in connection with the proposed acquisition of Tower Group by ACP Re. Tower Group Down to Sell - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Thu Mar 13, 3:40PM CDT
On Mar 11, 2014, Zacks Investment Research downgraded Tower Group Internationalto a Zacks Rank #4 (Sell).
Tower Group receives Nasdaq notice concerning listing requirements
M2 - Mon Mar 10, 6:48AM CDT
A Bermuda based diversified insurance and reinsurance holding company, Tower Group International Ltd (NASDAQ:TWGP) received a non-compliance notification letter from the Nasdaq Listing Qualification Department (Nasdaq) on 5 March 2014, due to non-filing of its Annual Report on Form 10-K for the period ended 31 December 2013 (the 10-K), with the US Securities and Exchange Commission (SEC), it declared on Friday.
Tower Group International Receives Nasdaq Notice Regarding Listing Requirements
Business Wire - Fri Mar 07, 3:30PM CST
Tower Group International, Ltd. (NASDAQ:TWGP) announced today that it received a notification letter from The Nasdaq Listing Qualification Department ("Nasdaq"
on March 5, 2014, stating that because the Company has not yet filed its Annual Report on Form 10-K for the period ended December 31, 2013 (the "10-K" with the Securities and Exchange Commission ("SEC", it was not in compliance with the continued listing requirements under Nasdaq Listing Rule 5250(c)(1). This press release is being issued in accordance with Nasdaq Listing Rule 5810(b). AmTrust: A Strong Buy - Analyst Blog
Zacks Equity Research - Zacks Investment Research - Tue Feb 18, 2:10PM CST
On Feb 14, Zacks Investment Research upgraded AmTrust Financial Services Inc. by a notch to a Zacks Rank #1 (Strong Buy).
5 Hated Stocks That Could Get Squeezed Much Higher
at The Street - Fri Feb 14, 7:59AM CST
These heavily shorted stocks are candidates for monster short squeezes.
SRA Named 2014 Healthiest 100 Workplaces Award Winner by Healthiest Employers
Business Wire - Wed Feb 12, 7:30AM CST
SRA International, Inc., a leading provider of IT solutions and professional services to government organizations, today announced that Healthiest Employers, the leader in employee health analytics, best practices and benchmark data, has inducted the company into the 2014 Healthiest 100 Workplaces in America. Every one of the employers named has achieved remarkable and sustainable success through a broad range of corporate wellness programs and employee wellness initiatives.
Tower Group International, Ltd. Reports Third Quarter 2013 Results
Business Wire - Tue Feb 11, 4:32PM CST
Tower Group International, Ltd. (NASDAQ:TWGP) today announced financial results for the third quarter and first nine months of 2013. These results reflect the third reported quarter of results following the March 13, 2013 merger between Tower Group, Inc. (TGI) and Canopius Holdings Bermuda Limited (Canopius Bermuda), which was renamed Tower Group International, Ltd. (Tower or the Company) upon completion of the merger and became the ultimate parent company. Since the merger transaction was accounted for as a reverse acquisition and recapitalization, under which TGI was identified and treated as the accounting acquirer, historical results prior to the first quarter of 2013 reflect only the financial results reported by TGI, with equity accounts and earnings per share restated to reflect Tower's new capitalization.
4 Stocks Under $10 Moving Higher
at The Street - Fri Feb 07, 8:31AM CST
When a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits.
