Federated, Carnival, Alphabet climb; Regeneron skids
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
Federated National Holding Co., up $1.49 to $13.54
Insurance companies surged as Hurricane Irma weakened and investors felt catastrophic losses were less likely.
Alphabet Inc., up $1.88 to $943.29
Technology stocks did better than the broader market Monday.
Carnival Corp., up $2.08 to $67.65
Travel companies also rose as investors felt Hurricane Irma won’t affect their businesses as much as they had feared.
Regeneron Pharmaceuticals Inc., down $26.38 to $445.11
Investors weren’t impressed with results from a study of an experimental asthma drug Regeneron is working on with Sanofi.
Teva Pharmaceutical Industries Ltd., up $3.00 to $18.50
The Israeli generic drug company named Kare Schultz, the former head of H. Lundbeck A/S, as its new CEO.
Public Storage, down $4.91 to $213.40
High-dividend stocks did worse than the rest of the market as investors were willing to take more risks Monday.
Achillion Pharmaceuticals Inc., down $1.08 to $3.83
Johnson & Johnson said it is ending development of a hepatitis C treatment it was studying with Achillion.
KeyCorp, up 41 cents to $17.03
Banks climbed along with interest rates, which will help their profits on loans.