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Insurer $PGR reported a 47% drop in 2Q16 earnings due to wider net impairment losses. Net income fell to $190.9MM or $0.33 per share from $363.3MM or $0.62 per share last year. Total pretax net realized gains on securities fell to $32.3MM from $76MM. Net premium written grew 13% to $5.93Bil and net premiums earned increased 11% to $5.56Bil.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.