CI CIgna Takeover in the News | Trading Game Plan | June 16

ci cigna takeover

Anthem Pursuing Cigna Takeover, CI Stock Surges

Reports surfaced today that Anthem Inc. (ANTMAnalyst Report) has placed a takeover bid for Cigna Corp. . There have actually been 2 takeover bids in the last 10 days, the last one priced at $175 per share. The companies have been in discussion about the possibility of a takeover for a few months, but Cigna has thus far denied Anthem’s offers.

Cigna’s stocks surged to a 52-week high of $164 on heels of the news coming about, before decreasing to $153.43 to close out the day, a figure that is still a double digit increase for the session. Anthem’s stock price saw an increase of $3.75 or 2.33% to $164.46 as of the same time.

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More CI CIgna Takeover Stories in the News

Anthem Merger Speculation Sends Cigna Higher

NEW YORK ( TheStreet) — Shares of Cigna  (CIGet Report) ended Monday’s trading day up by almost 12%. The stock is TheStreet’s Move of the Day.

Shares rose after a report in The Wall Street Journal said Anthem  (ANTMGet Report) offered to buy the Bloomfield, Conn.-based company for $175 a share. While both health insurance giants have been in talks for months, the Journal reports, this is the second offer over the past 10 days, which Cigna rejected.

According to unnamed sources in the Journal, David Cordani, the CEO of Cigna is looking to remain at the top of the new Anthem-Cigna firm, which has interrupted the progress of the deal.

This comes just a few weeks after the Journal reported that Humana  (HUMGet Report) had been in talks with Cigna and Aetna (AETGet Report) over a possible merger.

At $156.86, Cigna shares trade at about 21 times greater than its pre-share earnings last year, according to data from Bloomberg.

The analysts at Wedbush Securities hold a neutral rating, with a price target of $140. Leerink Partners holds an outperform rating, along with a price target of $145. The analysts at BMO Capital Markets maintain an outperform rating and a price target of $154.

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Why Cigna Corporation Shares Soared Today

Anthem Inc. is reportedly interested in acquiring competitor Cigna Corporation.

Does Anthem Want Cigna For $175/Share? Some Investors Are Buying Into The Rumor

According to Dow Jones, Anthem Inc (NYSE: ANTM) has initiated a takeover bid for CIGNA Corporation (NYSE: CI) at $175 per share. That’s a premium of about 17 percent — Cigna shares are up a little over 13 percent on the report.

June 16 Stock Market Today: Map of the S&P 500

Day Trading Game Plan: The SPY

CI CIgna Takeover

SPY chart showing buyers stepped in after the gap lower. Prices held above the opening print most of the day.

CI CIgna Takeover

Stocks to Trade |Tuesday June 16, 2015

Pete’s Notes:

  • Lower open and more setups to the short side again.

Interesting Chart Lessons:

BA | Boeing is one of my stocks in play today. Recent news and two inside days. Looking for an increase in volatility to hold to the close. Looking for a trend day.

CI CIgna Takeover

Earnings in play today > 1M avg shares: ADBE

Bullish Ideas ATR/Volume/Price: SINA, YOKU, FEYE, CYBR, LLY, QIHU, FLX, GILD, GS,

Bearish Ideas ATR/Volume/Price: gmcr, ual, rrc, scty, mon, mmm,

Weak Stock Weak Close: kors, luv, yndx, urbn, x, twtr, ddd, hpq,

Strong Stock Weak Close: MBLY, JD, YOKU

Weak Stock Strong Close:  wmb, kmi, oke, adsk,

Strong Stock Strong Close: FEYE, CI, CIEN, CYBR, HLF, GILD, AET, SWKS, AIG, BBT, TASR, STI, UNH

20 day Breakdown: twtr, pep, utx, atvi

20 Day Breakout: CI, CYBR, AET, AIG

2x Normal Volume: bee, ci, lo, aet, aig, cybr, atvi, hlt

Watch List Longs: AET, BAC, MET, MS, COF, SBUX, PNC, JPM, WFC, M>70, C

Watch List Short: chk, swn, mo, wmt, cvx, cost, xom, ko, all, luv, ual, gg, ntap, vz, wynn, klac, qcom, sndk, glw, dd

Inside days: mo, pm, m, qihu, ba, ctrp, psx, gps


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Leave a Reply 2 comments

bob curran Reply

Pete $VIX slooooooooowly rising toward 17–which may be indicative of a falling spy ,(SDS)—–A hedge ,inverse s/p 500——or VXX—–2nd highest volume etf–2nd to SPY -itself

    Pete Renzulli Reply

    I agree Bob. $VIX is waking up

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