Cigna (NYSE: CI) NewsBite - Cigna Rises After Earnings

Monday, August 04, 2008 12:24 PM EDT

Cigna (NYSE: CI) opened at $35.66. So far today, the stock has hit a low of $35.66 and a high of $37.93. CI is now trading at $37.42, up $1.81 (5.08%). The stock hit its 52-Week high of $56.98 in January and set its 52-Week low of $32.82 in July. Cigna posted on Friday a 37% jump in second-quarter profit. The company also reaffirmed its adjusted operating income guidance of between $4.05 and $4.25 per share for 2008. Technical indicators for the stock are neutral and S&P gives CI a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on CI the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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