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Chubb (CB) shares demonstrated notable strength, climbing 1.34% while the broader market declined. The insurer's positive performance is supported by strong earnings forecasts, positioning it as a defensive asset amid a technology-driven market sell-off.
Travelers Companies has launched SuretyBind, a technology venture in partnership with Chubb, The Hartford, and Liberty Mutual, to modernize the surety market. The announcement has been met with positive investor sentiment, reflected in a significant year-to-date stock price increase.
American International Group (AIG) shares surged over 6% to $81.08 following a denied takeover rumor from Chubb (CB). The move has pushed the stock past several analyst targets, repricing short-term risk despite skepticism about a potential deal.
Paramount Skydance has launched a hostile $78 billion bid for all of Warner Bros. Discovery, challenging a previous $72 billion offer from Netflix. The bid faces significant political opposition due to its funding from foreign sovereign wealth funds and a private equity firm linked to Jared Kushner.