The Hartford's stock surges on earnings reports

Shares of The Hartford Financial Services Group Inc . surged $4, or 6.87 percent, to $62.26 late this morning after the company reported Monday evening that its second quarter operating earnings fell 9 percent to $696 million, or $2.22 per share. Wall Street analysts had expected the company to report operating earnings of $2.10 per share, according to Reuters estimates. The Hartford-based insurer said its second quarter net income fell income 13 percent to $543 million, or $1.73 per share, from $627 million, or $1.96 a share, in the year-ago period. The company said it expects operating earnings per share to range between $9.20 and $9.50 for all of 2008. Read more Professional Services & Media... [read full story]