Deutsche, Prudential, Jackson Nat'l, Nymex

Deutsche Bank’s second-quarter net income fell 36% to $1 billion from $2.8 billion a year earlier.
JUL 31, 2008
By  Bloomberg
A mixed bag of financial services companies posted earnings today. Deutsche Bank AG’s net income fell 36% in the second quarter. The Frankfurt, Germany-based bank also posted diluted earnings a share of $5.62 and saw its total net income fall to $1 billion, from $2.8 billion a year earlier. AtPrudential Financial Inc. of Newark, N.J., net income for its financial services businesses fell to $575 million, or $1.35 a share, for the quarter, from $835 million, or $1.80 a share, for the second quarter of 2007. Despite the results from the firm’s financial services business, which includes its insurance and investment divisions, Prudential maintains its projected earnings range for this year at $7.50 to $7.80 a share, assuming appreciation in the Standard and Poor’s 500 stock index. Meanwhile,Jackson National Life Insurance Co.’s profits tumbled. The Lansing, Mich.-based carrier, a subsidiary of London-based Prudential PLC, reported net income of $106 million in the first half, down from $365 million in the first half of 2007. Although sales of variable annuities fell to $3.5 billion, from $4.4 billion, traditional fixed annuities boomed at the company, surpassing $1.2 billion, compared with $572 million in the first half of 2007. And the New York Mercantile Exchange Inc. posted second-quarter earnings of $94.3 million, of 99 a diluted share, up 126% from $41.7 million a year earlier.

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