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CIGNA's Stock Sheds 8 Percent as Company Warns of Lower-Than-Expected Profits.
Knight Ridder/Tribune Business News, July, 2003
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Jul. 15--Wall Street is worried that CIGNA's gloomy profit and enrollment picture could get worse before it gets better.
As CIGNA executives moved Monday to assuage fears, the company's stock price slipped another 8 percent on doubts that the company has an accurate grip on the depth of its problems.
Analysts and investors, disappointed by Friday's announcement of lower than expected earnings for 2003, now believe CIGNA's turnaround will take longer than planned. And they're ...uestioning the credibility of company information.
"The company is still getting to the bottom of how bad the problems really are, and we remain unsure as to when that...
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