UPDATE: CBL shares drop 11% after earnings fall short of some expectations

Fri, 24 Feb 2017

(Updates to focus on stock price, adds market comment, earnings details) By Jonathan Underhill and Tina Morrison Feb. 24 (BusinessDesk) - CBL Corp shares tumbled 11 percent after the credit surety and financial risk insurance company posted full-year earnings that missed some market expectations and included one-time costs that weren't projected in its prospectus. Net profit fell to $30.7 million in the 2016 calendar year, from $35.5 million a year earlier, the Auckland-based company said in a statement. That fell short of the $40.4 m...

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