Reported 26 days ago
Cigna Group's shares rose significantly after CEO David Cordani announced that the company is prioritizing share buybacks over any potential acquisition of Humana Inc., amid current challenges in the Medicare market. Cordani indicated that excess free cash flow will be directed towards repurchasing shares rather than pursuing a Medicare-focused acquisition, which analysts believe makes it unlikely. Despite these market issues, Cigna reported strong third-quarter earnings, exceeding expectations and demonstrating resilience compared to larger competitors.
Source: YAHOO