PRU seems to be falling like a rock and yesterday's news said that their quarterly profit tripled? I really don't understand this, nor the entire market for that matter. Anybody have a reasonable explanation besides "there are more sellers than buyers".
"Buy the rumor sell the news" Come on the stock has been up in almost a straight line in the last month. It's the foibles of the mkt. It will trade like this for a while and depending on guidance and mkt conditins move accordingly. Stock is sound Divs. are there and when it settles add more on dips if you like. Remember there are macro factors as well Europe Greece etc. Financials are now in favor so I don't think you will get hurt here but act/trade/invest accordingly!
I think the amount of the reserve release has a lot to do with it. Carriers release reserves to boost profit (often times when there is none). It is not something sustainable so despite hitting their numbers, was it done in a way that shows the company is as healthy as they are projecting.