Diamonds and Dogs

5/6/22

Cigna (CI) jumps 5% following earnings. The health insurer easily beat estimates as revenue rose 7% to $44.01 billion. Cigna raised estimates due to a decline in COVID-related costs and pent-up demand for medical procedures like blood screenings, preventive exams, mammograms and colonoscopy that were delayed due to the pandemic.

Another bad day for retail. Under Armour (UAA) dropped 23% after missing estimates as sales only rose 3% to $1.3 billion. Under Armour had plenty of excuses like supply chain issues and the impact of pandemic lockdowns in China. Rivals Adidas and Nike fell 3% each.

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