Posted
Jun 12 2009, 03:10 PM
by
Minyanville
Any big plans for the weekend? Mine will be spent at 5 different sporting events: a gymnastics show, a softball game, and 3 soccer games. Oh, and toss a play in there for good measure. Busy parents out there can appreciate what I’m talking about.
Asian stocks rose overnight. The Hang Seng was up 0.52% and the Nikkei was up 1.55%. Meanwhile, European stocks were in negative territory early this morning. And here in the US, we're currently trading lower.
Here’s what I’m focused on this morning (besides my busy weekend plans):
Progressive Corp (PGR):
I think the Ohio-based auto-insurance company deserves a mention. Here’s why I like it:
1. According to a release last night, its board of directors “approved a new authorization for the Company to repurchase up to 50 million of its Common Shares commencing on July 1, 2009.” It’s no accident (get it?) I dig this because it wouldn’t have done it unless it thought the company had the financial means to do it or the stock was a good value.
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