Why Chubb Stock Wilted on Wednesday
Chubb (NYSE: CB) stock seemed to be primed for a good Wednesday on the market after it reported quarterly results, however, investors had other plans for the storied insurance company. While it beat analyst estimates for its latest quarter, some of its fundamentals raised concerns. As a result they collectively traded out of the stock, leaving it with a more than 4% loss in price on the day around 3 p.m. ET.
After market hours Tuesday, Chubb published its second-quarter results. These revealed that the company's net premiums written -- considered something of a top-line metric by insurance sector investors -- rose by 6% year-over-year to just shy of $14.2 billion.
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Source Fool.com
