HCA Healthcare

Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Cigna (CI) announced that its Board of Directors has approved an aggregate increase of $10B in incremental share repurchase authorization, bringing the company’s total share repurchase authority to $11.3B. The company intends to use the majority of its discretionary cash flow for share repurchase in 2024. The company expects this to include repurchase of at least $5B of common stock between now and the end of the first half of 2024, with a portion of this repurchase to be executed via an accelerated share repurchase program conducted in the first quarter of 2024. In connection with today’s announcement, Cigna reaffirmed its previously provided outlook of full-year 2023 consolidated adjusted income from operations on a per share basis of at least $24.75 per share. The company continues to target consolidated adjusted income from operations on a per share basis of at least $28 for full-year 2024. Meanwhile, The Wall Street Journal’s Lauren Thomas reported that the company had abandoned its pursuit of a tie-up with Humana (HUM) that would have created a roughly $140B giant in the health-insurance industry. The companies couldn’t come to agreement on price and other financial terms, according to people familiar with the matter. 2. An investor group made up of a real-estate investing firm Arkhouse Management and a global asset manager Brigade Capital has presented Macy’s (M) with a proposal to acquire the company at $5.8B or $21 per share, The Wall Street Journal’s Lauren Thomas reports, citing people familiar with the matter. The offer was submitted on December 1st, the report indicates, further stating that the investors already have a big position in the company. 3. Demand for cybersecurity is booming as attacks proliferate and companies ramp up spending on software to comply with new disclosure rules. Many companies in the sector are up more than 50% this year and valuations are steep, but there is a bull case for three of the biggest names: Palo Alto Networks (PANW), CrowdStrike (CRWD), and Zscaler (ZS), Jack Denton writes in this week’s edition of Barron’s. Despite the big stock gains, the market may still not appreciate how much spending will rise to prevent security breaches and safeguard apps, data, and everyday business operations-including those at companies, hospitals, and government entities, the author adds. 4. Filmmaker Hayao Miyazaki’s Japanese film “The Boy and the Heron” won the weekend with a record-breaking $12.8M debut, making it the first original anime title in history to top the North American box office chart. The movie earned an A- CinemaScore from audiences. Moviegoers have the option to watch “The Boy and the Heron” with English subtitles or a dubbed version. 5. Vertex (VRTX) and HCA Healthcare (HCA) saw positive mentions in this week’s edition of Barron’s.