Chicago, IL – November 20, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Aetna Inc. (AET), UnitedHealth Group Inc. (UNH), WellPoint Inc. (WLP), Assurant Inc. (AIZ) and Cigna Corp. (CI).

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Here are highlights from Thursday’s Analyst Blog:

Aetna Axes Jobs

In a bid to become more efficient, the health insurer Aetna Inc. (AET) announced on Wednesday its intention to shed a total of 1,250 jobs or about 3.5% of its total workforce by the first quarter of 2010. Management intends to do so in two phases, by slashing 625 jobs now and the remaining early next year.

The company expects to record after-tax restructuring charges of $40 million in fourth quarter 2009. Last December, the company cut 1,000 jobs, which was 3% of its total workforce. The company plans to slash majority of the jobs at its headquarters in Connecticut.

Aetna with a total head count of 35,500 is eliminating jobs to cope with the difficult economic environment and potential impact that the health care reform might cast on its health insurance business. Elimination of excess workforce will help streamline the business by optimizing staffing level, thereby maintaining efficiency.

During the third quarter of 2009, Aetna earned $326.2 million, or 73 cents per share. That represents an increase from $277.3 million, or 58 cents per share, in the same quarter last year. Membership has slumped throughout the health insurance sector as employers have cut jobs, reducing the number of people covered by employer-sponsored plans.

Aetna rivals UnitedHealth Group Inc. (UNH) and WellPoint Inc. (WLP) both recently saw enrollment declines in the third quarter. Last week, Assurant Health, a division of Assurant Inc. (AIZ) announced that it has slashed 94 jobs. Earlier during the year, peers Cigna Corp. (CI) cut 1,100 jobs and Wellpoint Inc. eliminated nearly 1,500 jobs.

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On Thursday, the Dow Jones industrial average rose 80.26 points, or 0.8%, to 9,627.48, its highest close since October 6.  The broader S&P 500 index advanced 10.77 points, or 1%, to 1,044.14, its first five-day climb since November.  The Nasdaq composite index rose 23.63 points, or 1.2%, to 2,084.02.  With traders eschewing safe havens, yield on the benchmark 10-year Treasury note fell to 3.35%. The yield on the 30-year notes declined to 4.20%.

As the holiday-shortened week comes to an end today, investors would look toward extending gains into a sixth consecutive day, buoyed partly by strong reports from China.  This morning’s stock futures show shares opening with modest gains.  Dow Jones industrial average futures rose 9, or 0.1%, to 9,614.  Standard & Poor's 500 index futures rose 1.60, or 0.2%, to 1,039.00, while Nasdaq 100 index futures rose 3.00, or 0.2%, to 1,685.75.

Treasury Secretary Geithner was more forthcoming in a speech before Congress Thursday, as he noted the strategy has shifted to preparing for future growth, adding the economy is back from the brink.  Geithner advised, "We must continue reinforcing the recovery until it is self-supporting and led by private demand."
  
Thursday saw all ten S&P500 sectors moving higher, led by 2.2% gains in telecom shares, 1.7% in basic materials, 1.6% in oil and gas, 1.4% in tech, and 1.2% in consumer services.  On the New York Stock Exchange, volume picked up to 1.49 billion shares as advancing issues outpaced decliners by a 3-to-1 margin.

Among DJIA components, Procter & Gamble (NYSE:PG) shares jumped 4.2% after the company raised its 2010 profit outlook to $3.99 to $4.12.  Shares in Disney (NYSE:DIS) jumped 5.2% after the company reported strengthening ad markets, and hopes from improving consumer-spending trends.  Technology issues rose on increased estimates for top and bottom line results from Texas Instruments (NYSE:TXN) and ASML Holdings (NASDAQ:ASML); on the DJIA Cisco (NASDAQ:CSCO) shares advanced 3.5%. Cigna Corp (NYSE:CI) led healthcare issues higher even as President Obama's speech appeared to have garnered support for his much-talked healthcare initiative.

News from China indicated a V-shaped recovery underway in that country as the National Statistics Bureau reported investments, industrial output and credit expanded in August, alleviating to some extent fears that the government was clamping down on credit growth. Chinese Premier Wen Jiabao noted, "China's economic rebound is unstable, unbalanced and not yet solid," adding, "We cannot and will not change the direction of our policy when conditions aren't appropriate."  The Shanghai Composite closed up 2.2% Friday, with the Hang Seng at its highest in over a year.

The inquiry is in an effort to change the debate to focus on health insurers rather than focusing on the solutions to health care concerns. There was also dispute over the creation of a government-run health system along private insurers. The Democrats are trying to examine whether business practices of the industry oppose Obama’s proposal for a public health insurance plan.

The US House Energy and Commerce Committee chairman Henry Waxman sent letters to 52 insurance companies on Monday, asking them to provide details on CEO pay, profit and other data by next month. These include American International Group Inc. (AIG), Hartford Financial Services (HIG), Aetna Inc. (AET), Aflac Inc. (AFL), Humana Inc. (HUM) and Cigna Corp. (CI).

Banks and Wall Street investment firms have also faced criticism over executive pay and bonuses and corporate spending in the light of government bailouts. Even though some large financial firms have redeemed warrants issued under Troubled Asset Relief Program, most of them still have short-term debt guaranteed by the government. Thus, Bank of America (BAC), Goldman Sachs (GS) and JP Morgan Chase & Co. (JPM) were targeted by various political and media groups.

The insurer projects full-year earnings between $3.70 and $3.90 per share, down from its February forecast of $3.95 to $4.25. Analysts expect earnings of $3.89 per share.

Furthermore, Cigna expects health plan membership to decline between 3% and 4% in 2009.

For the first quarter, net income advanced year over year, but adjusted earnings per share fell short of the consensus.

This Zacks #3 Rank ("Hold") is moving on a lower-than-normal volume of 2.3 million shares, against the daily average of almost 4 million.

Cigna incurred huge losses from its runoff reinsurance businesses in 2008, which weakened its financial position.

A month earlier, Standard & Poor's Ratings Services had reduced its rating for similar reasons.

However, the agency raised Cigna's outlook to "Stable" from "Negative" and expects good earnings from the company this year.

Analysts are positive on the long-term prospects of the company as they have raised their 2010 earnings estimate in last week by 3 cents to $4.20 per share.

Cigna is a Zacks #3 Rank ("Hold") company.

Maverick Capital Management Holdings Analysis

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