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Earning Optimism Propels CIGNA Stock HIgher.
Knight Ridder/Tribune Business News, January, 2004
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Jan. 24--CIGNA Corp. stock rose as much as 3.6 percent Friday -- even as the market and other health insurance stocks fell -- after an analyst's report on UnitedHealth Group said that company's earnings and trends bode well for CIGNA.
CIGNA closed up $1.52 a share, or 2.6 percent, at $60.55 -- another 52-week high for the company, whose own results are due out Feb. 6. Shares gained as much as $2.10 late Friday morning before moderating.
A report Friday from Prudential Equity Group Inc. cited UnitedHealth's comments about pricing discipline, stability of national accounts and a continuing slowdown in rising medical costs.
The favorable trends bode...
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