Death of A Salesman…
Metlife (MET) is in talks to sell its network of 4,000 sales people to Mass Mutual Life Insurance. A possible sale of MetLife’s army would sever ties with important contributors to the company’s rise as a nationwide giant. A decade ago the companies 14,000 agents would walk door to door to make sales and collect premiums. With inventions like the internet and online bill pay more people are turning to computers to buy insurance and make premium payments. The potential move is part of a larger movement by the company to slim itself down. The company decided in January to divest a large piece of its U.S life insurance unit to reduce a portion of the capital burden it expects to face with new regulations.
U.S manufacturing could be on the mend after suffering from a slowdown for the past year because of a stronger dollar, weak global demand, and declining commodity prices. On Thursday, the monthly durable goods, manufactured items which were meant to last at least three years, rose in January following the worst annual performance since the recession. Alongside a pickup in other key gauges of business investments, the report could be a signal the sector may be starting to turn the corner.
Asia: Asian markets closed higher on Friday as oil prices rallied.
Europe: European markets rallied on Thursday, as investors cheered on positive corporate earnings.
U.S: U.S stocks closed higher extending the previous day’s rally. DJIA: +212.30 16,697.29 S&P: +21.90 1951.70 NASDAQ: +39.60 4582.20
Word of The Day:
A class of stock issued by a company which typically pays a fixed dividend however, they do not have voting rights. In the event of a company bankruptcy’s preferred stock holders have the right to be paid company assets first.
Dinner or Drink:
1 oz. Rye
0.25 oz. Italian amaro
0.25 oz. fresh lemon juice
0.25 tsp raspberry preserves
1 dash(es) chocolate bitters
1 piece(s) lemon wheel(s)
Combine Rye Whiskey, Italian amaro, fresh lemon juice, raspberry preserves and chocolate bitters into a cocktail shaker with ice.
Fine strain into a chilled coupe glass.
Garnish with a lemon wheel.