Fidelity National Shares Drop After Downgrade

NEW YORK (AP) — Fidelity National Financial Inc. shares dropped Tuesday as an RBC Capital Markets analyst cut his rating on the stock due to its recent recovery.

Shares tumbled $2.32, or 10.2 percent, to $20.28 in midday trading. Shares have gained 27 percent for the year, and are up significantly from a November 2008 low of $6.66.

In a note to clients Tuesday, analyst Mark Dwelle lowered his rating on the stock to "Sector Perform" from "Outperform," saying the title insurance provider has benefited greatly from the government's stimulus measures, which have produced strong mortgage origination volumes and refinance activity. ...