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The Cigna Group (CI)
Pre-market:
- Yahoo Finance Video
Apple, Novo Nordisk earnings, jobless claims: What to watch
A number of companies release their quarterly earning reports on Thursday, including Apple (AAPL), Novo Nordisk (NVO), Shell (SHEL), ConocoPhillips (COP), Cigna (CI), Coinbase (COIN), Moderna (MRNA), DraftKings (DKNG), Kellanova (K), United States Steel (X), and more. On the economic front, jobless claims for the week ending on April 27 will be released. Economists expect claims to rise to 212,000 from 207,000 the prior week. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino
- Reuters
UPDATE 1-Cigna sees strong annual profit on lower costs, pharmacy benefit strength
Health insurer Cigna Group raised its annual profit forecast on Thursday, as lower-than-expected medical costs and strength in its pharmacy benefit management unit helped it beat first-quarter earnings estimates. Cigna bumped up its forecast for the second time this year, as a smaller presence in the Medicare Advantage (MA) market shields it from the increasing costs that have hurt other U.S. health insurers.
- Reuters
Cigna sees strong annual profit on lower costs, pharmacy benefit strength
The company now expects an adjusted profit of at least $28.40 per share in 2024, up 15 cents from its previous forecast. Cigna's forecast lift comes in contrast to CVS Health, which slashed its annual profit forecast on Wednesday, citing higher medical costs, especially for its Medicare Advantage (MA) plans for adults aged 65 and above.
