Insurance ETFs Rally as Irma Dies

Hurricane Irma was downgraded to a tropical storm Monday morning after leaving many thousands of homes and businesses flooded and millions without power. While not minimizing the human suffering, the storm’s destructive power nonetheless appears to be less than what had been anticipated. Bloomberg Intelligence Analyst Jonathan Adams revised his estimate of insured losses down…

Get the Crash Cart: Top 5 ETFs Exposed to McKesson

Shares of McKesson Corporation (MCK) are off more than 20% today after the company missed consensus forecasts in this morning’s quarterly earnings report. Net profits for the quarter fell by about half versus last year, as management revised its forward guidance sharply lower. Several of McKesson’s competitors also sold off, following comments on the earnings call that a competitor…