Cigna Boosts Earnings Outlook, Shares Rise
From Reuters
Cigna Corp. sharply raised its earnings forecast, saying the company got a better grip on soaring medical costs and the volume of services used by patients declined.
The news sent shares of the Philadelphia company to their highest level since late 2002.
The company said it expected first-quarter earnings to range from $245 million to $275 million, or $1.75 to $1.95 a share, excluding one-time items and realized investment results.
Shares of Cigna rose $6.90 to $67.55 on the NYSE.
