Cigna Stock Surges in 2023 After Scrapping Humana Merger; Eli Lilly Shares Dip Post Weight-Loss Drug Study
Explore the latest U.S. stock market movements on December 11, 2023, as Cigna cancels its merger with Humana and announces a $10 billion buyback, while Eli Lilly's shares fall following new weight-loss drug findings.
Bill McColl brings over 25 years of expertise as a senior producer and writer across TV, radio, and digital platforms, leading teams in delivering impactful news coverage on major current events.
Main Highlights
- On December 11, 2023, U.S. stocks showed mixed performance ahead of crucial consumer price data and the Federal Reserve's final policy meeting of the year.
- Cigna's shares surged after cancelling its merger plans with Humana and unveiling a significant $10 billion stock repurchase program.
- Eli Lilly’s share prices declined following a study revealing weight regain in patients who discontinued its Mounjaro and Zepbound medications.
The U.S. equity markets experienced minimal changes at midday, with the Dow and S&P 500 inching higher while the Nasdaq slipped, as investors awaited upcoming inflation reports and the Federal Reserve’s year-end meeting.
Cigna (CI) experienced a notable rally after announcing the termination of its merger with Humana (HUM) and committing to a $10 billion stock buyback, whereas Humana’s shares declined.
Shares of Intel (INTC) and other semiconductor companies rose following the White House's announcement of the first grants under the CHIPS and Science Act of 2022, aimed at boosting domestic chip manufacturing.
Nike (NKE) stock climbed after Citigroup upgraded it and raised its price target, citing resilience in earnings despite economic volatility.
Eli Lilly (LLY) shares dropped as a study showed patients regained weight after stopping its weight-loss drugs Mounjaro and Zepbound.
Paramount Global (PARA) shares fell sharply after a recent surge fueled by speculation about a potential sale.
Nvidia (NVDA) shares declined following CEO Jensen Huang’s announcement of plans to expand partnerships in Vietnam.
Oil and gold futures decreased, the 10-year Treasury yield rose, and the U.S. dollar strengthened against the euro, pound, and yen. Most major cryptocurrencies traded lower.
Explore useful articles in Markets News as of 16-12-2023. The article titled " Cigna Stock Surges in 2023 After Scrapping Humana Merger; Eli Lilly Shares Dip Post Weight-Loss Drug Study " offers in-depth analysis and practical advice in the Markets News field. Each article is carefully crafted by experts to provide maximum value to readers.
The " Cigna Stock Surges in 2023 After Scrapping Humana Merger; Eli Lilly Shares Dip Post Weight-Loss Drug Study " article expands your knowledge in Markets News, keeps you informed about the latest developments, and helps you make well-informed decisions. Each article is based on unique content, ensuring originality and quality.