Travelers Falls Most in Dow After Profit Misses Estimates
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Travelers Cos. fell the most in the Dow Jones Industrial Average after reporting second-quarter profit that missed analysts’ estimates on catastrophe costs.
The insurer slumped 4 percent to $91.42 at 9:35 a.m. in New York, the biggest drop since 2011. Second-quarter profit fell 26 percent to $683 million, the New York-based insurer said today in a statement. Operating profit, which excludes some investment results, was $1.93 a share, 14 cents below the average estimate of 26 analysts surveyed by Bloomberg.