Federated National shares plunge on Q4 loss

Federated National shares dropped sharply in New York today
after the carrier posted a fourth quarter loss that exceeded Wall
Street expectations.
The shares fell 11 percent to close at $18.11 on Nasdaq.
After trading had ended Thursday, the carrier reported a net
loss of $12.1mn for the fourth quarter compared with net income of
$9.3mn in the prior-year period.
Federated National today announced the board had authorised a
further $10mn share buyback in a programme that runs until 8...