Business Services Industry
Aetna Earnings Forecast Sends Share Value Up Almost 6 Percent.
Knight Ridder/Tribune Business News, March, 2004
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Mar. 13--Aetna's stock climbed almost 6 percent Friday after the company raised its earnings forecasts for the second time in a month, spurring more optimism about the company's turnaround progress.
Aetna, citing membership growth and slowing medical costs, said it expects operating earnings for the first quarter of this year to be between $1.68 and $1.73 a share. The company's previous guidance was $1.50 to $1.55 a share.
Operating profits in the first quarter of 2003 were $1.34 a share. Operating earnings exclude realized capital gains and losses on investments, and releases of unneeded money from prior periods' claim reserves.
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