U.S. stocks fell on Thursday after President Donald Trump tweeted that the U.S. will be imposing 10% tariffs on $300 billion worth of Chinese imports at the beginning of September. The Dow Jones Industrial Average tumbled 1.05% to 26,583, the S&P 500 index dipped 0.90% to 2,953 and the Nasdaq Composite Index declined 0.79% to 8,111.
Shares of Cigna Corp. (NYSE:CI) lost almost 2% after announcing second-quarter results. The company posted earnings of $4.30 per share on $34.38 billion in revenue, reflecting 199% growth from the prior-year quarter. The company beat earnings estimates by 56 cents and evenue expectations by $1.11 billion.
"As Cigna accelerates our focus on whole person health, our strong second-quarter results reflect the value we deliver to customers and clients, and our consistent execution in a dynamic environment," President and CEO David M. Cordani said.
The medical care ratio - the percentage of premiums paid out for medical services - was 81.6%, higher than the 80.2% analysts had projected.
Looking ahead to full fiscal 2019, the company expects consolidated adjusted income from operations between $6.34 billion and $6.46 billion, or $16.60 to $16.90 per share.
Kellogg Co. (NYSE:K) +9.3%
Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) +7.6%
CF Industries Holdings Inc. (NYSE:CF) +5.6%
AmerisourceBergen Corp. (NYSE:ABC) +5.3%
Iron Mountain Inc. (NYSE:IRM) +4.8%
Abiomed Inc. (NASDAQ:ABMD) -26.5%
Concho Resources Inc. (NYSE:CXO) -22.2%
Best Buy Co Inc. (NYSE:BBY) -10.8%
Kohls Corp. (NYSE:KSS) -7.9%
Gap Inc. (NYSE:GPS) -7.9%
The main European stock markets traded mostly in the green. The U.K.'s FTSE 100 lost 0.03%, France's CAC 40 swelled 0.70%, Germany's Dax gained 0.53% and Spain's IBEX 35 rose 0.75%.
In Asia, Japan's Nikkei 225 advanced 0.09%, India's BSE Sensex retreated1.23%, Hong Kong's Hang Seng lost 0.76% and China's Shanghai Composite fell 0.81%.
Disclosure: The author holds no positions in any stocks mentioned.
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