NEW YORK (AP) — Stocks that moved substantially or traded heavily on Friday:
Amazon.com Inc., down $92.50 to $1,626.23
The e-commerce giant gave a weak outlook for the current quarter, citing the potentially negative sales impact of new rules in India along with overall higher costs.
BLOOMFIELD, Conn. (AP) _ Cigna Corp. (CI) on Friday reported fourth-quarter earnings of $144 million.
The Bloomfield, Connecticut-based company said it had profit of 55 cents per share. Earnings, adjusted for non-recurring costs, came to $2.46 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.53 per share.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Thursday:
Cigna Corp., up $2.47 to $216.28
The health insurer raised its annual forecasts after a strong quarterly report.
DowDuPont Inc., up $4.35 up $58.27
The chemicals company posted a larger-than-expected profit and forecasts bigger savings from a cost-cutting program.
Hanesbrands Inc., down 94 cents to $16.22
The underwear, t-shirt and sock maker reported weak revenue and cut its forecasts following the bankruptcy of Sears.
BLOOMFIELD, Conn. (AP) _ Cigna Corp. (CI) on Thursday reported third-quarter profit of $772 million.
The Bloomfield, Connecticut-based company said it had profit of $3.14 per share. Earnings, adjusted for non-recurring costs, came to $3.84 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $3.45 per share.
Cigna's plan to buy pharmacy benefit manager Express Scripts for around $52 billion has received a big endorsement a few days after activist investor Carl Icahn urged shareholders to reject it.
The proxy advisory firm Institutional Shareholder Services said Friday that stock owners should vote for the deal later this month, calling it financially compelling.
Large institutional shareholders rely on ISS and similar firms to help them decide how to vote on certain company proposals.
BLOOMFIELD, Conn. (AP) _ Cigna Corp. (CI) on Thursday reported second-quarter earnings of $806 million.
The Bloomfield, Connecticut-based company said it had net income of $3.29 per share. Earnings, adjusted for non-recurring costs and amortization costs, were $3.89 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $3.33 per share.
WellCare is spending $2.5 billion to become the biggest Medicaid coverage provider in Michigan and Illinois and add an in-house pharmacy benefit manager, following the lead of competitors like UnitedHealth and Cigna.
Pharmacy benefit managers, or PBMs, run prescription drug coverage. Insurers have been pushing to build or buy these businesses in large part to improve how they share patient data and manage care. They're also trying to gain better control of prescription drug costs.
WILMINGTON, Del. (AP) — A Delaware judge on Thursday refused Anthem Inc.'s request to extend a temporary ban blocking Cigna Corp. from pulling out of proposed $48 billion merger while Anthem tries to persuade federal officials to drop their objections to the deal.
The ruling comes after a federal appeals court last month left in place a decision blocking Blue Cross-Blue Shield insurer Anthem's bid to buy rival Cigna, saying a bigger company would not be better for consumers.
INDIANAPOLIS (AP) — Health insurer Anthem is not ready to give up its $48-billlion bid for rival Cigna and now hopes to find a favorable audience in the U.S. Supreme Court.
The Blue Cross-Blue Shield insurer is asking the court to review last week's rejection by a federal appeals court.
Cigna says it is rejecting Anthem's proposed $48 billion acquisition bid and suing the Blue Cross-Blue Shield insurer.
The announcement comes hours after another major insurer, Aetna, said it was abandoning its planned $34 billion purchase of Medicare Advantage provider Humana.
The Department of Justice sued last summer to stop the deals due to concerns about how they would affect prices and consumer choices. Federal judges rejected both deals in separate rulings earlier this year.
INDIANAPOLIS (AP) — Major health insurers Aetna and Humana called off their $34 billion combination after a federal judge, citing concerns about prices and benefits, rejected the deal.
The announcement Tuesday comes several days after another federal judge shot down a tie-up between two other massive insurers. Blue Cross-Blue Shield carrier Anthem Inc. is attempting to buy Cigna Corp. for $48 billion. Anthem is appealing that decision.
SACRAMENTO, Calif. (AP) — A federal judge on Wednesday rejected Anthem Inc.'s bid to buy rival health insurer Cigna Corp., saying the merger would likely lead to higher costs, less competition and diminished innovation.
MOOSIC, Pa. (AP) — Cigna Corp. says it's hiring about 70 new customer service associates at its offices in northeastern Pennsylvania to accommodate an expected surge in demand for health care services.
Walgreens believes that it will probably have to unload more stores than expected to ease antitrust concerns over its pending, $9.41 billion acquisition of Rite Aid, a deal that would make the nation's largest drugstore chain even larger.
While it still expects to complete the acquisition this year, the Deerfield, Illinois, company said Thursday that it will probably have to divest more than 500 stores. The company previously said that it expected to divest 500 or fewer.
WASHINGTON, D.C. (AP) — The U.S. government is suing to stop two major health insurance mergers, a move regulators say is needed to protect Americans from potential cost hikes and lower quality care.
The Department of Justice said Thursday that the combinations of Aetna and Humana and Anthem and Cigna would hurt competition that restrains the price of coverage and reduce benefits, among other drawbacks.
Aetna Inc. proposed last summer to buy Humana Inc. for $34...