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Press Releases

UPDATE 1-Health insurer Cigna reports better-than-expected profit

Memberships in Cigna's government business, which sells Medicare and Medicaid plans, rose 10 percent in the first quarter. The company said shareholder's net income fell to $519 million, or $2 per share, from $533 million, or $2.04 per share. Cigna raised its full-year adjusted income from operations forecast to $8.95 to $9.35 per share from $8.85 to $9.25.

Source: Reuters

UPDATE 1-Cognizant posts slowest quarterly revenue growth in 14 years

The company said it expects second quarter revenue between $3.34 billion- $3.40 billion and adjusted earnings between $0.80- $0.82. Analysts on an average had expected a profit of 84 cents per share and revenue of $3.41 billion, according to Thomson Reuters I/B/E/S. The company's net income rose to $441.2 million, or 72 cents per share, in the first quarter ended...

Source: Reuters

Cognizant revenue rises 10 percent

May 6- IT services provider Cognizant Technology Solutions Corp reported a 10 percent rise in revenue, helped by higher demand for its digital services. The company's net income rose to $441.2 million, or 72 cents per share, in the first quarter ended March 31, from $382.9 million or 62 cents per share, a year earlier. Revenue rose to $3.20 billion from $2.91 billion.

Source: Reuters

PRECIOUS-Gold edges above $1,280 ahead of U.S. jobs data

LONDON, May 6- Gold edged higher on Friday as a retreat in the dollar helped the metal to snap four days of losses, though moves were muted as traders took to the sidelines ahead of U.S. non-farm payrolls data later in the day. Spot gold rose 0.3 percent to $1,281.20 an ounce by 0934 GMT, while U.S. gold futures for June delivery gained $10.80 to $1,283.10.

Source: Reuters

Western Europe car sales rose 8 percent in April - LMC Automotive

FRANKFURT, May 6- Western European car sales rose 8 percent year-on-year in April, although sales momentum has slowed, auto industry data provided by LMC Automotive showed on Friday. Monthly car sales rose to 1,213,990 vehicles, according to LMC Automotive estimates, which are based on national registration data and LMC's own forecasts. "Taking account of at...

Source: Reuters

Aquino's pick for Philippine president banks on clean image

MANILA, Philippines— A U.S.-educated investment banker and the richest Philippine presidential aspirant, Mar Roxas lacks the dramatic life stories of his rivals, including a tough-talking mayor with a public vow to dump criminals in Manila Bay and a foundling who made it big in politics. President Benigno Aquino III, who rose to power on a promise to fight...

Source: The Associated Press

WRAPUP 1-Good U.S. payrolls gains seen, but swelling labor force to cap wage growth

WASHINGTON, May 6- U.S. employment likely rose again in April, but a rush of job seekers into the labor market should keep wage gains moderate and buy a cautious Federal Reserve more time before raising interest rates again. Nonfarm payrolls probably increased by 202,000 last month in U.S. Labor Department data due for publication on Friday, after growing by...

Source: Reuters

GRAINS-Corn edges higher, but set for biggest weekly loss in 9 months

SYDNEY, May 6- U.S. corn rose for the first time in four sessions on Friday, but was still set to record its biggest one-week loss in nine months as dry weather forecasts for key U.S. producing regions is set to accelerate plantings. *The Wheat Quality Council estimated the average hard red winter wheat yield in Kansas, the top U.S. producer of the grain, at 48.6 bushels...

Source: Reuters

Macquarie posts best annual profit ever, lifts dividend by 21 pct

SYDNEY, May 6- Australia's top investment bank Macquarie Group on Friday posted a 29 percent jump in annual profit to a record, helped by growth in its annuity-style businesses such as wealth management, and lifted final dividends by 21 percent. Net profit rose to A $2.06 billion from A $1.6 billion a year ago, narrowly beating analysts' estimate of A $2.04 billion.

Source: Reuters

GLOBAL MARKETS-Stocks steady, U.S. Treasury yields fall ahead of jobs data

NEW YORK, May 5- U.S. stocks ended steady on Thursday as a mixed quarterly earnings season winds down, but Treasury yields fell to two week lows as investors hedged positions ahead of the monthly U.S. government employment report due on Friday. The U.S. Labor Department's jobs report is forecast to show nonfarm payrolls rose by 202,000 in April while the...

Source: Reuters