News roundup: Unum completes $127M purchase of Starmount Life Insurance/AlwaysCare Benefits … Eyebrow threading license requirements raise group’s eyebrows … Entergy beats second quarter net income forecasts
Done deal: Tennessee-based Unum has completed its $127 million purchase of H&J Capital, the parent company of Baton Rouge-based Starmount Life Insurance/AlwaysCare Benefits, on Monday. Daily Report broke news of the sale in April. Unum is a leading nationwide provider of financial protection work benefits, including dental, vision, life, disability, accident and critical illness. Starmount will become the fourth brand under the Unum umbrella, according to a news release. It manages in-force annualized premium in excess of $180 million and has access to significant national dental and vision networks.
Catching their eye: Louisiana’s new law requiring eyebrow threaders to take 750 hours in beauty school is raising eyebrows and a lawsuit, The Associated Press reports. The Institute for Justice, a libertarian nonprofit law firm, says the requirement means hundreds of hours and thousands of dollars in irrelevant training. The institute has scheduled a news conference for today to discuss the lawsuit. Threading is a grooming technique in which eyebrow hair is plucked by pulling twisted thread along the skin, rather than tweezing hairs one at a time. Louisiana threaders need an esthetician’s license, which requires courses and licensing exams. Last year, the nonprofit won a Texas Supreme Court ruling against a similar law.
Better than expected: Entergy Corp. this morning reported second quarter net income of $572.6 million, The Associated Press reports. On a per-share basis, the New Orleans-based company says it had net income of $3.16. Earnings, adjusted for non-recurring gains, came to $3.11 per share. The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share. The power company posted revenue of $2.46 billion in the three months ending June 30. Entergy expects full-year earnings in the range of $6.60 to $7.40 per share. Entergy shares have climbed 19% since the beginning of the year.