Twitter stock hits new low after post-IPO lockup ends + MORE May 6th

TORONTO – Sun Life Financial Inc. (TSX:SLF) has reported a drop in first-quarter net income as increases in claims and insurance contract liabilities offset a big increase in revenue from premiums, fees and investment income.
The insurance and wealth management company reported after markets closed Tuesday that it had net income of $400 million or 65 cents per diluted share in the three months ended March 31, down from $513 million or 85 cents per share in the same year-earlier period.
Revenue from premiums, fees and investment income totalled $6.46 billion, compared with $3.79 billion in the year-earlier period.
However, the company said gross claims and benefits paid rose to $3.2 billion from $2.9 billion,while insurance contract liabilities rose to $2.23 billion from $222 million.
Operating net income from continuing operations, which excluded the sale of its U.S. annuities business and some U.S. life insurance business, was $454 million or 74 cents per share, compared with $448 million or 75 cents per share in the first quarter of 2013…

Twitter’s stock was trading at its lowest point ever on Tuesday as the lock-up period expired that required insiders to hold on to their shares after the IPO.

CALGARY – Fertilizer producer and retailer Agrium Inc. (TSX:AGU) has reported a 92 per cent drop in profits for the first three months of the year as the North American farmers it serves dealt with a nastier than usual winter.
The Calgary-based company said consolidated net earnings from continuing operations were $12 million, or eight cents per share, compared with $146 million, or 98 cents per share, a year earlier.
“Agrium’s first quarter is traditionally our seasonally lowest earnings quarter and this was exacerbated this year by the record cold winter across North America,” CEO Chuck Magro said in a release.
“However, farmer sentiment is positive this spring and we are now seeing good demand for crop input products and services. Agrium achieved a record $788-million in operating cash flow this quarter despite the lower net earnings as we continue to focus on reducing working capital needs.”
Agrium’s outlook for the second quarter is much brighter, calling for between $3…

Larry Cantello died a happy man, playing hockey with his buddies until a heart attack left him unconscious. It was those who loved the cheerful father of three young sons who were distraught.
Fortunately, he left his family a financial buffer—the $50,000 of life insurance he was provided as an employee of the municipal aquatic centre in Pointe-Claire, Que., plus more assets than most have at age 45.
He left a mortgage-free home near Montreal, a couple of cars, several years of pension contributions and other savings. His four siblings quickly set up an online appeal for help. Within a month, a fund for the funeral and the boys’ education was near the U.S. $20,000 target.
So Cantello’s wife Stephanie, a teacher, can afford to stay home well beyond her maternity leave. The proceeds from the insurance will be tax-free, and family expenses will now be less. Later, however, she may find a new love and ultimately remarry.
What about you? Would you leave your children and spouse with substantial assets? Have you bought enough life insurance— the cheapest and quickest way to protect them should tragedy strike? The whole point of insurance is that you never know when calamity will strike…

China’s Alibaba Group is aiming to raise $1 billion US in a long-awaited IPO likely to have ripple effects across the internet.