Aetna stock price declines following revised earnings forecast

NEWS IN BRIEF — Posted June 22, 2009

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In a June 2 announcement, Aetna adjusted its profit forecast for the year, down from a range of $3.85 to $3.95 per share to a range of $3.55 to $3.70 per share -- about a 6% adjustment.

Aetna's full-year earnings were down in 2008 to $2.83 per share from $3.47 in 2007. The company cited continued upticks in commercial medical costs and lower-than-expected Medicare revenue.

In a conference call with investment analysts, Aetna executives said the economy was prompting members to seek more care and more costly care, but that the company would adjust for those higher costs by raising prices for 2010, even at the risk of losing members.

Aetna's stock was trading at around $23 per share in mid-June, compared with about $45 per share a year earlier.

Note: This item originally appeared at

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