Chubb Ltd. stock down nearly 6% after wide earnings miss
Chubb Ltd. shares fell 5.6% in the extended session Tuesday after the property and casualty insurance company reported fourth-quarter earnings that missed Wall Street forecasts. Chubb said it earned $355 million, or 76 cents a share, in the quarter, according to International Financial Reporting Standards. That compares with $1.5 billion, or $3.27 a share, for the same quarter last year. Analysts polled by FactSet had expected EPS of $1.95 in the quarter. "We have good momentum as we execute on our business initiatives across the globe and take advantage of an improving price and underwriting environment that the industry needs," Chief Executive Evan G. Greenberg said in a statement. "Our organization is optimistic about the year ahead and we are off to a good start." Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.