CIGNA (CI) NewsBite - CI Rises Ahead of Tomorrow's Earnings Report

Posted: Wednesday, November 04, 2009 9:57 AM EDT

CIGNA (NYSE: CI) opened at $29.26. So far today, the stock has hit a low of $29.15 and a high of $30.35. CI is now trading at $30.33, up $2.00 (7.06%). Over the last 52 weeks the stock has ranged from a low of $8.00 to a high of $33.00. CI shares are rising ahead of the company's third-quarter earnings report tomorrow morning. Analysts are expecting the company to post a profit of $1.03 per share on revenue of $4.59 billion, compared to a year-ago profit of 89 cents per share on revenue of $4.85 billion. 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 a January out-of-the-money bull-put credit spread below the 22 range. [ABR-Seven Summits Strategic Investments NewsBite]

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