The Chubb Corporation (CB) was a big mover last session, as the company saw its shares rise more than 26% on the day. Shares moved up after Chubb announced that it is being bought by fellow insurer ACE Ltd. ( ACE) for $28.3 billion in cash and stock. This led to solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the near flat range of $94.56 to $99.38 in the past one-month time frame.
None of the estimates for this property and casualty insurer were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Chubb has a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.
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