Cigna, Charter Communications, Bristol-Myers: Top Tickers
Stocks are mixed Friday morning following a stronger-than-expected January jobs report, which clouds hopes for near-term interest rate cuts from the Federal Reserve.
Cigna (CI) shares rose after the health insurer lifted its 2024 profit outlook on the back of lower medical costs that drove an earnings beat in the fourth quarter.
Charter Communications (CHTR) fell short of new subscriber growth projections in the fourth quarter due to heightened competition, ultimately contributing to a profit miss for the company.
Bristol-Myers Squibb (BMY) posted estimate-topping fourth-quarter earnings results as new drugs boosted sales growth.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Angel Smith
Video Transcript
BRAD SMITH: We're about 30 minutes into the trading day. Let's take a look at how things are shaping up right now. Well, we mentioned in some of the January jobs report into the chat. Take a look at stocks reacting after that report came in hotter than expected.
US economy adding 350,000 jobs, 353,000 to be exact there, during the month. And that's double what was expected almost. Investors once again, weighing the timing of the Fed's rate cuts.
SEANA SMITH: And we take a look at the fact that we are still in the green in the NASDAQ. A lot of that having to do with better than expected tech reports that we got out after the bell last night.
Meta shares up just about 20% today. Let's take a look at some of those other individual trending tickers. First up, Cigna. Shares rising this morning after boosting its 2024 profit forecast. Now, the health insurer also beating fourth quarter profit estimates thanks to lower than expected medical costs and strong demand for its pharmacy benefit management unit.
Again, looking at gains of about 5%.
BRAD SMITH: All right. And also watching Charter Communications here. They are plummeting after missing quarterly profit estimates and posting a surprise drop in broadband subscribers. The company's CEO saying that a lot of their challenges are driven more by persistent competition.
SEANA SMITH: And Bristol Myers Squibb impressing investors with its fourth quarter results and strong outlook. The drug maker reporting revenue from its new product portfolio-- get this-- jumping 66%. And they expect sustained revenue growth at that level. That's pretty astounding there.
You're looking at gains at least here in early trading up, just about a half of a percent.
