Cigna CorpRevenue beat but stock fell 4.8% after reporting, likely due to guidance miss.
Cigna and other health insurance providers reported strong second-quarter results, with the group beating revenue consensus by 2.8% while next quarter's guidance came in 1.7% below expectations. Cigna posted revenues of $71.56 billion, up 6.6% year over year and 1.2% above estimates, but its stock fell 4.8% since reporting to $282.28. CVS Health was the best performer with revenues of $106.1 billion, up 7.3% and 6.7% above expectations, yet its shares dropped 7% to $97.16. Progyny delivered the weakest guidance update, with revenues of $350.5 million up 5.3% but missing next quarter EBITDA guidance significantly, sending its stock down 13% to $26.29. Clover Health beat expectations with revenues of $743.2 million, up 55.6%, and its stock rose 10.6% to $4.58, while Molina Healthcare reported revenues of $10.87 billion, down 4.8% and in line with estimates, with its stock down 4.1% to $212.75.
Cigna CorpRevenue beat but stock fell 4.8% after reporting, likely due to guidance miss.
CVS Health CorpRevenue beat but stock dropped 7% after reporting.
Molina Healthcare IncRevenue declined and stock fell 4.1%.
Progyny IncMissed next quarter EBITDA guidance significantly, stock down 13%.
Clover Health Investments CorpRevenue beat expectations and stock rose 10.6%.
British American Tobacco PLC