Progressive reports September quarter net income up 107% to $630M, combined ratio 90.0

Progressive Corp reported September quarter net income of $630M, up 107% from $305M a year ago. The combined ratio improved to 90.0 from 100.4. Net premiums earned rose 5% to $7.16B. 21 clean stories shaped this window, with sentiment bearish at 32/100. Also in focus: September CPI rises 3.7% YoY, inflation above Fed target for 66 months.