BUZZ-Canada's Manulife falls after Q1 profit misses estimates

Manulife Financial Corporation

Manulife Financial Corporation

MFC

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** Shares of Canadian insurer Manulife Financial MFC.TO fell 6.5% to C$51.09 in early trading

** Late Wednesday, co posted Q1 adjusted EPS of C$1.06 below analysts' estimates of C$1.10 per share - data compiled by LSEG

** According to analysts at RBC Capital Markets, Asia and the U.S. performed better than expected but everything else weaker than anticipated

** On YoY basis, Canada core earnings decreased 6% due to higher long-term disability claims as well as higher expenses to support the growing business and transformational investments

** "Core EPS was weaker than we anticipated primarily driven by lower than expected core earnings in Canada, Corporate & Other, and Global Wealth and Asset Management (GWAM)" - RBC

** As of last close, stock up 9.6% YTD