Client Login

FINANCIALS WEIGH ON WALL STREET AS TARIFF WORRIES RETURN

SECTION SELECTION

US FINANCIAL MARKET | US ECONOMY & POLITICS
 EUROPE & WORLD | TODAY IN HISTORY

DAILY MARKET REPORTS

  • U.S. stocks fell on Thursday, weighed down by financials, as worries of a trade war between the United States and China were heightened after President Donald Trump proposed 25% tariffs on $200 billion worth of Chinese imports.
  • U.S. Trade Representative Robert Lighthizer said Trump directed the increase from a previously proposed 10% duty because China has refused to meet Washington’s demands and has imposed retaliatory tariffs on U.S. goods.
  • Beijing responded to the new threat saying it was ready to escalate the trade war.
  • The Federal Reserve kept interest rates unchanged on Wednesday, but characterized the economy as strong, keeping the central bank on track to increase borrowing costs in September.
  • Chipmakers, whose major clients include Chinese companies, also declined, with Micron, Nvidia, AMD and Intel down between 0.5% and 1.2%.
  • Tesla jumped 10% after the electric car maker convinced investors that it was able to produce positive cash flow and turn a profit.
  • DowDuPont’s 2.8% drop, was the biggest drag on the S&P 500 after the chemical producer reported quarterly results.
  • Shares of TripAdvisor and Cognizant slipped 14.7% and 5% respectively after their earnings failed to impress investors.

US FINANCIAL MARKET

(Tim Higgins)

  • Tesla reassured investors it would achieve a profit later this year, as a rush of Model 3 sales in the second quarter helped the electric-car maker burn less cash than expected.
  • The results, which sent Tesla’s shares soaring in after-hours trading Wednesday, should give Chief Executive Elon Musk some wiggle room to prove that a continued production rate of more than 5,000 Model 3s a week during the third quarter can make the automaker cash-flow positive and profitable.
  • Revenue during the second quarter rose 44% to $4 billion. Tesla said last month that total vehicle deliveries reached 40,740, a dramatic increase from more than 22,000 vehicles a year earlier thanks to increased production of the Model 3 sedan.
  • Tesla more than doubled its loss from last year’s second quarter to $717.5 million, its seventh consecutive quarterly loss during a period intensely focused on ramping up production of the Model 3.
  • Tesla finished the second quarter with $2.2 billion of cash. Its negative free cash flow of about $436 million was lower than what a consensus of analysts expected. The company previously said it needed to keep a minimum cash balance of $1 billion, and several analysts had said Tesla would need to raise more money.

T-Mobile beats quarterly estimates for new wireless subscribers

  • T-Mobile said it added more wireless subscribers than Wall Street had expected, as the third-largest U.S. wireless carrier gained customers, helped by its lower prices.
  •  T-Mobile’s revenue rose to $10.57 billion from $10.2 billion a year earlier but missed Wall Street’s estimate of $10.64 billion.
  • The company added 686,000 wireless subscribers during the second quarter, compared to 786,000 added in the previous year. Analysts had expected T-Mobile to add 467,000 subscribers.
  • Net income rose 35% to $782 million, up from $581 million in the prior-year quarter.

Square Stock Falls as Revenue Beats Estimates, Profit Guidance Light

  • Square said adjusted revenue rose 60% to $385 million, topping expectations of $366 million.
  • Gross payment volume rose 30% year over year to $21.4 billion in the quarter.
  • Square’s net loss shrank by $10 million to $5.9 million in the quarter and came in above expectations after adjusting for items.
  • Square said it expects adjusted third quarter earnings of 8 cents to 10 cents a share and adjusted revenue of $407 million to $412 million. Revenue guidance was well ahead of expectations but analysts were expecting earnings of 13 cents a share.

Global Payments Adjusted Earnings Beat Estimates

  • Global Payments announced revenue for the quarter fell 13.4% to $833.16 million from $962.24 million last year.
  • The company’s cost of services declined 43.6% to $264.5 million from $469.1 million in 2017 due to the adoption of new accounting rules which recognized payments to third parties differently.
  • This meant that Global Payment’s net income increased 63% to $109.1 million compared to $66.9 million a year earlier and ahead of analyst expectations.

DowDuPont profit beats Street for a fourth straight quarter

  • U.S. chemicals producer DowDuPont reported a better-than-expected profit for the fourth straight quarter, driven by higher prices and strong demand for its products including paints and packaging materials.
  • Net sales rose 17% to $24.2 billion, which the company said compares with net sales of $20.7 billion that DowDuPont would have made had it been one company in the same quarter a year earlier. Analysts were expecting revenue of $23.6 billion.
  • The company said overall prices rose 4% in the quarter, including a 5% increase in materials science business and a 4% price rise in agriculture.
  • The company reported a profit from continuing operations of $1.77 billion, 3.7% lower from $1.84 billion on a pro forma basis.

U.S. Steel ticks higher after earnings beat

  • Revenue at the steelmaker rose 14.7% to $3.6 billion compared to $3.1 billion a year ago, ahead of estimates of $3.46 billion.
  • All segments aside from its Tubular business showed increased profitability, with flat rolled steel shipments rising 3.5% to 2.6 thousand net tons and ASP increasing 10% to $819 per ton.
  • Net income declined to $214 million from $261 million in the year-ago period but came in above consensus sending shares higher in aftermarket trading.

Century Aluminum Reports Second Quarter 2018 Results

  • The aluminum producer said it had net sales of $470.0 million, a 3% increase over the prior quarter and 21% over a year ago, despite lower production volume due to equipment failure. Selling prices per ton increased 23% over 2017.
  • Shipments declined sequentially to 180 thousand tons, from 187 thousand in the previous quarter. Gross margin increased to 7.2% from 5.7% in 2017.
  • Net income more than doubled from a year ago to $19.4 million.

Kellogg’s new bets on healthier foods drive profit beat, forecast

  • Cereal maker Kellogg topped Wall Street estimates for quarterly sales and profit and raised its full-year outlook on Thursday, betting on its recent acquisition of protein bar RXBAR and Nigeria’s Multipro.
  • Net sales rose 5.8% to $3.36 billion, topping the estimate of $3.30 billion.
  • Its net income rose to $596 million in the second quarter, from $283 million a year earlier.
  • Kellogg said it expects net sales to rise 4-5% in fiscal 2018, and earnings per share to grow 11-13%. The company had previously forecast a sales rise of 3-4% and earnings per share growth of 9-11%.

Yum Brands comparable sales miss as Pizza Hut, Taco Bell disappoint

  • Yum Brands’ quarterly sales at established outlets fell short of estimates, as fewer customers dined at Pizza Hut and Taco Bell.
  • Total revenue fell 5.5% to $1.37 billion but edged past estimates of $1.36 billion.
  • Sales at Yum’s worldwide restaurants open for at least a year rose 1%, missing analysts’ average estimate of a 1.92% rise. Same-store sales at Pizza Hut posted a surprise drop of 1%, missing expectations of a 1.21% increase, while Taco Bell’s 2% rise also fell short of estimates.
  • Net income rose to $321 million in the second quarter from $206 million a year earlier.

Express Scripts Earnings and Revenues Top Estimates

  • Express Scripts posted revenues of $25.64 billion for the quarter, surpassing estimates by 1.12%. This compares to year-ago revenues of $25.35 billion.
  • Net income increased to $879.4 million from $805.5 million in the same period in 2017 due to a lower tax bill, marginally ahead of estimates.
  • Despite the beat, Express Scripts fell heavily on reports that Carl Icahn had built up a sizeable stake in Cigna and that he had intentions on blocking the Cigna acquisition of Express Scripts on valuation concerns.

Cigna quarterly profit beats, focus on response to Icahn

  • Cigna reported a much better-than-expected quarterly profit, helped by higher enrollment and premium rates, as the health insurer braces itself for a tussle with Carl Icahn on its $52 billion Express Scripts deal.
  • Cigna’s operating revenue rose about 11% to $11.50 billion, ahead of analysts’ estimate of $11.16 billion.
  • The company said net income came in at $806 million in the second quarter, compared to $813 million a year earlier.
  • The company also raised its full year adjusted profit per share forecast to $13.60 to $13.90, from the previous estimate of $12.85 to $13.25 per share.

AmerisourceBergen Earnings and Revenues Beat Estimates

  • AmerisourceBergen posted revenues up 11.5% to $43.14 billion for the quarter, surpassing estimates. This compares to year-ago revenues of $38.71 billion.
  • The current year quarter was favorably impacted by an increase in gains from antitrust litigation settlements and negatively impacted by a lower LIFO credit in comparison to the prior year period and a lower contribution from PharMEDium.
  • This meant net income increased 451.9% to $277.9 million compared to $50.4 million a year ago, easily beating consensus.

Aetna Earnings Beat Estimates, Membership Declines

  • Adjusted revenues were $15.4 billion, up 4.1% year over year. This upside was attributable to higher membership in the company’s Medicare products, and a positive impact of the reinstatement of HIF (Health Insurer Fee) in 2018.
  • Medical membership of 22.1 million at Jun 30 decreased slightly from Mar 31. Total healthcare medical benefit ratio (MBR) fell 30 basis points year over year to 79.7%.
  • The company’s profit came in at $1.21 billion compared with $1.20 billion in last year’s second quarter and well ahead of estimates.

MetLife Profit Beats Estimates, Aided by U.S. Tax-Law Revamp

  • Total revenue increased 38% from a year earlier to $21.2 billion from $15.5 billion thanks to a pension-risk transfer contract won from FedEx.
  • Earnings at the U.S. business surged 36% to $671 million from $493 million a year earlier. Profit at the Asia business climbed 17% to $363 million, helped by higher income from investments and better sales in China and Japan.
  • After adjustments, net income increased 18% to $1.3 billion, ahead of estimates.

Insurer Prudential misses profit estimates on weaker annuities income

  • Prudential Financial missed Wall Street estimates for quarterly profit, hurt by weaker results at its annuities business.
  • Prudential said adjusted operating income at its individual annuities unit, which contributes some 40% of operating income, fell 17% to $507 million in the second quarter. The company’s international insurance division also reported a decline in adjusted operating income, of 4.7% to $784 million.
  • Second-quarter net income fell to $197 million from $491 million a year earlier. The results reflect a one-time expense of $1.6 billion related to divested businesses. Even after adjusting for the divestiture operating profit was below consensus.

Regeneron profit beats expectations on sales of eczema drug

  • Drugmaker Regeneron Pharmaceuticals reported a better-than-expected profit, helped by higher sales of eczema drug Dupixent.
  • Total revenue rose 9.3% to $1.61 billion, beating estimates of $1.56 billion.
  • U.S. sales of Regeneron’s flagship eye drug, Eylea, increased 8% to $992 million in the second quarter but missed estimates of $1 billion while Dupixent’s sales jumped to $209 million in the second quarter.
  • Net income rose to $551.4 million in the quarter from $387.7 million last year.

Exact Sciences Announces Second Quarter Results

  • Exact Sciences announced that the company generated revenue of $102.9 million and completed approximately 215,000 Cologuard tests during the quarter. Second-quarter 2018 revenue and Cologuard test volume grew by 78% and 59%, respectively, from the same period of 2017. Analysts had, however, expected revenue of $105.4 million.
  • The average recognized revenue per Cologuard test increased 12% to $479.
  • The company’s loss widened from a year ago to $36.4 million from $30.8 million, however, this was less than Wall Street was expecting.

Quanta Services Earnings Lag Estimates

  • The specialty contractor for utility and energy companies posted revenue of $2.66 billion in the period, topping Street forecasts of $2.55 billion.
  • Net income rose to $74.7 million compared to $64.4 million a year ago, largely due to tax benefits from reform passed in December. This was about 3% below estimates on a per share basis.

Huntington Ingalls Beats on Earnings & Revenues

  • Total revenues came in at $2.02 billion, which surpassed estimates of $1.90 billion by 6.2%. The top line also rose 8.7% from $1.86 billion a year ago.
  • Shipbuilding revenues for the second quarter were $1.2 billion, an increase of $182 million, or 18.2%, from the same period in 2017, mainly due to higher revenues in aircraft carriers and naval nuclear support services of USS George Washington (CVN 73), the construction contract for John F. Kennedy (CVN 79) and the advance planning contract for Enterprise (CVN 80).
  • Net income rose 62.6% to $239 million from 147 million in the year ago period which was well ahead of estimates.

AMC Networks Earnings Miss Estimates, U.S. Ad Revenue Rises Slightly

  • Quarterly revenue increased 7.2% to $761 million on a 3.7% gain at national networks and an increase of 32.4% at international and other businesses.
  • AMC reported U.S. advertising revenue rose 0.6% to $247 million, following an 8.8% decline in the first quarter.
  • The company reported lower-than-expected adjusted earnings of $113 million for the second quarter, compared with $126 million in the year-ago period.
  • AMC earlier this week finalized a deal to acquire control of Robert Johnson’s RLJ Entertainment and its growing Acorn TV and UMC SVOD services to accelerate a move towards direct-to-consumer, ad-free subscription services that the traditional cable giant owns and controls.

FMC’s quarterly profit nearly doubles as lithium sales jump

  • FMC, the chemical producer spinning off its lithium division as a publicly traded company later this year, posted a quarterly profit that nearly doubled.
  • The company reported revenue of $1.3 billion, up 92% year over year due to their acquisition of DuPont’s Crop Protection business.
  • The acquisition drove revenue in its agricultural solutions segment up 98%, while its lithium segment saw organic growth of 46% to $108 million.
  • The company posted net income of $129.7 million compared with $74.7 million in the year-ago period.

Fitbit jumps after earnings beat

  • Revenue declined to $299 million compared to $353 million in the same period in 2017 but exceeded estimates of $285 million.
  • Fitbit sold 2.7 million devices in the quarter, 0.7 million less than 3.4 million in 2017 but ASPs increased by 6% to $106.
  • Fitbit’s new Versa model smartwatch outsold all Samsung, Garmin, and Fossil smartwatches combined in the quarter.
  • The company’s net loss widened to $54.2 million from $19.3 million but exceeded estimates. Midpoint guidance for revenue to come in between $370 million and $390 million surpassed estimates of $377.6 million

TripAdvisor Reports Second Quarter 2018 Financial Results

  • TripAdvisor posted revenue growth of 2% to $433 million for the quarter, missing estimates. The site’s user review content grew 24% year-over-year, reaching 661 million and covering about 7.7 million places to stay and eat and things to do.
  • Its non-hotel segment revenue grew 22% year-over-year – from $98 million to $120 million – a sizable increase but a deceleration from the first quarter when it posted gains of 36% over Q1 2017. Hotel revenue came in at $313 million, down 4% from 2017.
  • Net income increased 9% to $58 million on a non-GAAP basis, from $53 million in the same period of 2017, ahead of estimates.
  • The revenue miss on the top line and in the hotel segment stirred competition fears, sending shares down more than 12% in aftermarket trading.

XPO Logistics Announces Second Quarter 2018 Results

  • XPO Logistics announced revenue increased 16.0% year-over-year to $4.36 billion.
  • Adjusted net income was $131.8 million for the quarter, compared with $75.0 million for the same period in 2017.
  • The company reaffirmed its full year 2018 target for adjusted EBITDA of at least $1.6 billion, and 2017-2018 target for cumulative free cash flow of approximately $1 billion.

Trimble Navigation Earnings and Revenues Surpass Estimates

  • The GPS manufacturer posted revenue of $785.5 million in the period up 19% and exceeding Street forecasts. Six analysts surveyed by Zacks expected $772.1 million.
  • Net income increased to $64.1 million compared to $47.1 million in the same quarter of 2017. This was ahead of expectations.
  • The GAAP tax rate for the quarter was 19% as compared to 26% in the second quarter of 2017.

Chipmaker Qorvo Crushes Quarterly Views, Gets Apple Lift

  • Radio-frequency chip supplier Qorvo had sales of $692.7 million in the June quarter. Analysts expected sales of $656.5 million. In the same quarter last year, it had sales of $640 million.
  • Net income increased to $124 million from $113.9 million in June 2017, 26% above estimates.
  • However, its guidance tempered investor enthusiasm. Qorvo expects to earn an adjusted $1.62 a share on sales of $855 million. Wall Street was modeling $1.57 a share on sales of $858 million in the September quarter.

FireEye Stock Slides Despite Earnings, Revenue Beat

  • The cybersecurity company had strong revenue figures as it amassed sales of $202.7 million, an improvement over the $191.7 million from the year-ago quarter, while also topping the $201.5 million forecasted.
  • FireEye’s billings figure was also ahead of estimates at $196 million for the quarter. The metric, which measures future business under contract, was better than the $188.3 million that analysts were calling for.
  • The company said that its second quarter of fiscal 2018 included a loss of $72.86 million. On an adjusted basis, the company said its earnings were at the break-even point.

Storm and Ruger Announce Second Quarter Results

  • The gunmaker reported revenue that fell to $128.4 million from $131.9 million in the same period of 2017.
  • Gross profit increased to $36.6 million from $34.9 million in the previous quarter as the majority of the company’s sales were new, higher margin rifles and pistols.
  • Net income increased almost 50% to $15.2 million from $10.2 million a year ago.

Stamps.com Earnings and Revenues Surpass Estimates

  • The online postage provider posted revenue of $139.6 million in the period, topping Street forecasts and up 20% year over year. Three analysts expected $134.3 million.
  • Net income increased to $45.5 million from $31.0 million in 2017, this was well ahead of estimates.

Apollo’s Earnings Hurt by Athene Investment

  • Apollo Global Management reported earnings that missed analysts’ expectations in its latest quarter, hurt by one of the private-equity firm’s major investments.
  • Economic net income, a closely watched measure of unrealized investment gains, fell 41% to $108.5 million, or 27 cents a share. Analysts were expecting 54 cents a share.
  • Profit at Apollo declined 31% from a year ago to $63.6 million. A $67.5 million loss on investment activities cut into the company’s profit, similar to the first quarter of this year when that loss was just slightly lower at $67 million.
  • Assets under management rose 16% to $269.45 billion. The company said its private-equity fund appreciation was 1.7%.

Blue Apron is crashing as customers ditch its meal-kit service

  • Blue Apron shares are crashing Thursday morning, down about 20%, after the meal-kit delivery service reported a big drop in customers.
  • The meal-kit maker reported revenue plunged 25% year-over-year of $179.6 million from $238.1 million in 2017. Analysts were anticipating $188.6 million of revenue.
  • The company said total customers fell 8.8% quarteroverquarter and 24% versus a year ago. Revenue per customer slipped to $250 from $251 last year.
  • The company’s loss widened to $32.8 million from $31.6 million a year ago, which lagged estimates on a per share basis.

Cognizant Technology down on revenue miss, downside revenue guide

  • Cognizant Technology Solutions announced a revenue for the quarter rose 9.3% to $4.01 billion from $3.67 billion last year.
  • The company’s bottom line totaled $456 million, down from $470 million in last year’s second quarter.
  • The company’s Q3 guidance has downside revenue from $4.06 billion to $4.10 billion versus a consensus of $4.12 billion and roughly in-line EPS of at least $1.13 compared to the $1.14 consensus.

Duke Energy’s profit misses estimates on higher expenses

  • Duke Energy reported a lower-than-expected quarterly profit as the U.S. utility failed to keep a lid on its operating expenses.
  • Total operating revenue rose to $5.64 billion from $5.56 billion. Operating revenue from the company’s electric utility unit, which accounts for the bulk of Duke’s overall business, rose to $5.22 billion from $5.16 billion.
  • The company’s total operating expenses rose 11% to $4.67 billion in the second quarter, as it spent more on the fuel used in electricity generation.
  • Net income fell to $500 million in the second quarter from $686 million a year earlier, missing estimates.

MGM shares fall 5% in pre-market trade after earnings and revenue miss

  • MGM Resorts shares fell after the company reported second-quarter earnings that fell short of profit and revenue expectations.
  • Revenue rose to $2.86 billion from $2.65 billion a year ago but fell short of consensus at $2.97 billion.
  • Casino revenue for the second quarter increased by 8% to $1.3 billion compared to the prior year, but occupancy at the company resorts dipped slightly to 93% from 94% a year ago.
  • Profit for the latest quarter fell to $123.8 million compared to $209.9 million a year ago and below estimates.

Sharp drop for Wynn Resorts after earnings disappoint

  • Revenues totaled $1.6 billion, which lagged the consensus estimate of $1,694 million by 5.5%. The top line improved 9% over last year, given significant contribution from Wynn Palace, and Las Vegas operations.
  • The company reported second-quarter net income of $155.8 million a sharp increase compared with $74.9 million a year ago, but over 20% below consensus.

Back to Top


US ECONOMY & POLITIC

U.S. Jobless Claims Tick Slightly Higher

  • The number of U.S. workers filing new applications for unemployment benefits ticked slightly higher last week but continued to hover near the lowest levels since the late 1960s.
  • Initial jobless claims, an indication of layoffs across the U.S., rose to a seasonally adjusted 218,000 in the week ended July 28 from 217,000 in the prior week. Economists had forecast 220,000 new applications for jobless benefits last week.
  • Jobless claims can be volatile from week to week. The four-week moving average of claims, which smooths out weekly jitters, fell to 214,500 in the week ended July 28 from 218,000 the prior week.

(David LawderBen Blanchard)

  • U.S. President Donald Trump’s administration is proposing a tariff rate increase on $200 billion worth of Chinese goods to 25% from 10% as the two countries continue conversations to determine whether trade talks can be resumed.
  • The officials told reporters that Trump had directed U.S. Trade Representative Robert Lighthizer to consider the higher tariff rate as part efforts to ensure that it has “the right tools in place in order to encourage China to change its actions.”
  • The possible change will alter a public comment period for the proposed tariffs ranging from Chinese tilapia fish to furniture and lighting products, extending a comment deadline to Sept. 5 from a previously announced deadline of Aug. 3.

Back to Top


EUROPE & WORLD

(Edward Taylor)

  • BMW reported a smaller-than-expected 6% decline in second-quarter operating profit on Thursday while brushing off concerns about new anti-pollution rules and global trade tensions which caused rival Daimler to warn on profits.
  • The German carmaker said higher spending to develop electric and autonomous cars and currency headwinds weighed on earnings before interest and taxes (EBIT), which fell to 2.74 billion euros ($3.19 billion) but topped the 2.69 billion expected.
  • BMW affirmed its 2018 targets to achieve slightly higher deliveries and revenue in the automotive segment and achieve a group profit before taxes at the previous year’s level.
  • The company expects capital expenditure to reach an all-time high in 2018, it said, as the company continues high levels of spending to develop electric and autonomous cars.

Ferrari Reports Higher Profit, But Shares Fall on New CEO’s Comments

  • Revenue edged down 1.6% to €906 million largely due to a drop in sales of engines to Maserati, Fiat Chrysler’s luxury brand.
  • Ferrari shipped 2,463 cars in the quarter, a 6% rise from a year ago. Deliveries rose 7% in the Americas and the Europe, Middle East and Africa region. Deliveries in China, Hong Kong, and Taiwan rose 26% from a much lower base.
  • Ferrari’s net profit rose 18% in the second quarter to €160 million ($187.3 million) compared with €136 million in the same period last year, as taxes fell and the company sold more higher-margin models such as the 812 Superfast.

Back to Top


TODAY in HISTORY

  • The first Lincoln penny was issued. (1909)
  • PT-109, a torpedo boat commanded by Lt. John F. Kennedy, was sunk off the Solomon Islands by a Japanese destroyer. (1943)
  • The Persian Gulf War broke out when Iraq invaded Kuwait. (1990)

This information has been prepared from sources believed to be reliable, but no representation is being made as to its accuracy or completeness. The information provided should be used only as general information and is not intended to provide specific advice or recommendations for any individual. The economic forecasts set forth in the material may not develop as predicted. All indices, such as the S&P 500, are unmanaged and may not be invested into directly. Sources: Reuters, Bloomberg, the Wall Street Journal.

Content posted by third parties on this site is screened in order to protect clients’ privacy and comply with regulatory requirements. Content containing sensitive personal information, inappropriate language, information about specific investments, misleading information, information about other companies or websites, or information related to litigation will be removed. Content posted by third-parties on this site remains the responsibility of the party posting the content and is not adopted or endorsed by Pence Wealth Management or LPL Financial. Any opinions or statements posted by third parties are their own and may not be representative of the experience of others and are not indicative of future performance or success. Third party content on this site does not reflect the views of LPL Financial and have not been reviewed by LPL Financial as to accuracy or completeness.

Comments are closed.

All Financial Consultants at Pence Wealth Management are Registered Representatives with, and securities and Advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA & SIPC. Financial Planning offered through Pence Wealth Management, a Registered Investment Advisor and separate entity from LPL Financial. The LPL Financial representative associated with this website may only discuss and/or transact securities business with residents of the following states: Alaska (AK), Alabama (AL), Arkansas (AR), Arizona (AZ), California (CA), Colorado (CO), Connecticut (CT), Delaware (DE), Florida (FL), Georgia (GA), Hawaii (HI), Idaho (ID), Illinois (IL), Kansas (KS), Kentucky (KY), Louisiana (LA), Massachusetts (MA), Michigan (MI), Minnesota (MN), Mississippi (MS), Missouri (MO), Montana (MT), Nebraska (NE), Nevada (NV),

New Hampshire (NH), New Jersey (NJ), New Mexico (NM), New York (NY), North Carolina (NC), North Dakota (ND), Ohio (OH), Oklahoma (OK), Oregon (OR), Pennsylvania (PA), Rhode Island (RI), South Carolina (SC), South Dakota (SD), Texas (TX), Utah (UT), Virginia (VA), Washington (WA), Wyoming (WY), Washington (DC)

Laila Marshall-Pence CA Insurance Lic# 0545421

BC_badge_black_small