Thursday, September 09, 1999
TRISTATE MARKET SPOTLIGHT
Conseco to change accounting methods
Conseco Inc., the life insurer and consumer lender based in suburban Indianapolis, said Wednesday it was changing its accounting methods.
The company lowered 1999 earnings expectations from about $3.15 a share to about $2.95 a share. Analysts had expected about $3.96.
The announcement, which came after the market closed Wednesday, also said the company will buy back as many as 4 million to 6 million of its outstanding shares.
Stock in Conseco gained $1.183/4, or almost 5 percent, to close at $25 Wednesday.
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