Insurer Conseco to report 2Q profit

Insurer Conseco said expects to post a profit in the second quarter because of a much smaller investment loss. Conseco yesterday said it expects to make $15.8 million to $27.8 million, or 9 to 15 cents, per share for the quarter ended June 30, compared with a loss of $488.5 million, or $2.65 per share, in the year-ago period. Investment losses are expected to range from $13 million to $25 million for the quarter compared with $513.7 million in the year ago quarter. Conseco said it expects to make 22 cents a share before investment losses, matching expectations of analysts surveyed by Thomson Reuters. The company expects to release final results for the quarter on Aug. 4. Conseco shares jumped 40 cents, or 21 percent, in after-hours trading to $2.30, after falling 2 cents during the regular session. The shares have traded between 26 cents and $10 over the past years.