Here was the statement about the hedge loss in the report:
"With respect to our derivatives portfolio, we had after-tax losses of $1.3 billion that were driven primarily by the impact of MetLife's credit spreads and higher interest rates. As a reminder, derivative gains or losses related to MetLife's credit spreads do not have an economic impact on the company."
None of the analysts on the call asked about it. Most of them asked horrible questions.
The Derivatives losses were made public a day or so ago, so they can't possibly (or "apparently") account for the pullback from $39 that started 2 weeks ago.
You can attribute the pullback of the last two weeks to: -Overbought Technicals -General market correlation/ insurance sector correlation -Global growth concerns (slowdowns/recession concerns in countries where Metlife opperates) -Foreign currency fluctuations -Yields/debt concerns (Primarily European) -and much more recently, the derivatives losses.