分组1 - Select Medical reported quarterly earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.23 per share, and down from $0.18 per share a year ago, representing an earnings surprise of -31.57% [1] - The company posted revenues of $1.4 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 2.60%, and up from $1.31 billion year-over-year [2] - Select Medical has surpassed consensus EPS estimates two times over the last four quarters and topped consensus revenue estimates three times during the same period [2] 分组2 - The stock has gained about 9.9% since the beginning of the year, compared to the S&P 500's gain of 0.5% [3] - The current consensus EPS estimate for the coming quarter is $0.42 on revenues of $1.42 billion, and for the current fiscal year, it is $1.34 on revenues of $5.64 billion [7] - The Zacks Industry Rank for Medical - HMOs is currently in the bottom 9% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8]

Core Insights - Humana reported quarterly earnings of $3.24 per share, exceeding the Zacks Consensus Estimate of $2.91 per share, but down from $4.16 per share a year ago, indicating an earnings surprise of +11.34% [1] - The company achieved revenues of $32.65 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.09% and up from $29.3 billion year-over-year [2] - Humana has outperformed consensus EPS estimates three times in the last four quarters and has also topped revenue estimates three times during the same period [2] Earnings Outlook - The future performance of Humana's stock will largely depend on management's commentary during the earnings call and the sustainability of the stock's immediate price movement based on the recently released numbers [3][4] - The current consensus EPS estimate for the upcoming quarter is -$3.70 on revenues of $31.77 billion, while for the current fiscal year, it is $17.05 on revenues of $128.21 billion [7] Industry Context - The Medical - HMOs industry, to which Humana belongs, is currently ranked in the bottom 26% of over 250 Zacks industries, suggesting that the overall industry outlook may negatively impact Humana's stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors or through tools like the Zacks Rank [5][6]

Group 1: Earnings Performance - Cigna reported quarterly earnings of $7.83 per share, exceeding the Zacks Consensus Estimate of $7.7 per share, and up from $7.51 per share a year ago, representing an earnings surprise of +1.69% [1] - The company posted revenues of $69.57 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 3.59%, compared to $63.7 billion in the same quarter last year [2] Group 2: Stock Performance and Outlook - Cigna shares have increased by approximately 8.3% since the beginning of the year, while the S&P 500 has gained 17.2% [3] - The current consensus EPS estimate for the upcoming quarter is $8.04 on revenues of $67.81 billion, and for the current fiscal year, it is $29.69 on revenues of $267.39 billion [7] Group 3: Industry Context - The Medical - HMOs industry, to which Cigna belongs, is currently ranked in the bottom 35% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - The Joint Corp., another company in the same industry, is expected to report a quarterly loss of $0.01 per share, reflecting a year-over-year change of -125%, with revenues anticipated to be $13.27 million, down 56.1% from the previous year [9]

Company Performance - Cigna reported quarterly earnings of $7.2 per share, exceeding the Zacks Consensus Estimate of $7.14 per share, and up from $6.72 per share a year ago, representing an earnings surprise of +0.84% [1] - The company posted revenues of $67.13 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 7.09%, compared to revenues of $60.47 billion in the same quarter last year [2] - Over the last four quarters, Cigna has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Stock Outlook - Cigna shares have increased approximately 7.9% since the beginning of the year, while the S&P 500 has gained 8.2% [3] - The company's earnings outlook, including current consensus earnings expectations for upcoming quarters, will be crucial for investors [4] - The current consensus EPS estimate for the coming quarter is $7.93 on revenues of $64.08 billion, and for the current fiscal year, it is $29.68 on revenues of $258.19 billion [7] Industry Context - The Medical - HMOs industry, to which Cigna belongs, is currently ranked in the bottom 5% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Cigna's stock performance [5][6]

Core Viewpoint - Molina's quarterly earnings of $5.48 per share missed the Zacks Consensus Estimate of $5.5 per share, representing a year-over-year decline from $5.86 per share [1] - The company reported revenues of $11.43 billion for the quarter, exceeding the Zacks Consensus Estimate by 5.43% and showing an increase from $9.88 billion a year ago [2] Financial Performance - The earnings surprise for the latest quarter was -0.36%, while the previous quarter saw a positive surprise of +3.75% with actual earnings of $6.08 against an expectation of $5.86 [1][2] - Over the last four quarters, Molina has surpassed consensus EPS estimates two times and revenue estimates three times [2] Stock Performance - Molina shares have declined approximately 37.9% since the beginning of the year, contrasting with the S&P 500's gain of 7.3% [3] - The current Zacks Rank for Molina is 5 (Strong Sell), indicating expectations of underperformance in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $5.93 on revenues of $10.9 billion, while the estimate for the current fiscal year is $22.08 on revenues of $44.06 billion [7] - The outlook for the Medical - HMOs industry is currently unfavorable, ranking in the bottom 4% of over 250 Zacks industries, which may impact Molina's stock performance [8]

Group 1: Earnings Performance - Cigna reported quarterly earnings of $6.74 per share, exceeding the Zacks Consensus Estimate of $6.39 per share, and showing an increase from $6.47 per share a year ago, representing an earnings surprise of 5.48% [1] - The company posted revenues of $65.45 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 7.66%, compared to year-ago revenues of $57.25 billion [2] - Over the last four quarters, Cigna has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Group 2: Stock Performance and Outlook - Cigna shares have increased approximately 21.4% since the beginning of the year, contrasting with the S&P 500's decline of -4.7% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is $7.17 on revenues of $61.56 billion, and for the current fiscal year, it is $29.61 on revenues of $252.36 billion [7] Group 3: Industry Context - The Medical - HMOs industry, to which Cigna belongs, is currently ranked in the top 17% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Cigna's stock performance [5] - The Zacks Rank for Cigna is currently 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [6]

Company Performance - Select Medical reported quarterly earnings of $0.44 per share, missing the Zacks Consensus Estimate of $0.45 per share, and down from $0.77 per share a year ago, representing an earnings surprise of -2.22% [1] - The company posted revenues of $1.35 billion for the quarter ended March 2025, missing the Zacks Consensus Estimate by 0.83%, and down from $1.79 billion year-over-year [2] - Over the last four quarters, Select Medical has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance - Select Medical shares have lost about 3.2% since the beginning of the year, compared to the S&P 500's decline of -5.3% [3] - The current consensus EPS estimate for the coming quarter is $0.25 on revenues of $1.33 billion, and for the current fiscal year, it is $1.14 on revenues of $5.39 billion [7] Industry Outlook - The Medical - HMOs industry, to which Select Medical belongs, is currently in the top 15% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Select Medical's stock performance [5][6]

分组1 - Humana reported quarterly earnings of $11.58 per share, exceeding the Zacks Consensus Estimate of $9.98 per share, and showing an increase from $7.23 per share a year ago, resulting in an earnings surprise of 16.03% [1] - The company posted revenues of $32.11 billion for the quarter ended March 2025, which was 0.33% below the Zacks Consensus Estimate, but an increase from $29.33 billion year-over-year [2] - Humana has surpassed consensus EPS estimates in all four of the last quarters and has topped consensus revenue estimates three times during the same period [2] 分组2 - The stock has increased by approximately 2.2% since the beginning of the year, contrasting with the S&P 500's decline of 5.5% [3] - The current consensus EPS estimate for the upcoming quarter is $5.84 on revenues of $31.77 billion, and for the current fiscal year, it is $16.36 on revenues of $126.55 billion [7] - The Medical - HMOs industry, to which Humana belongs, is currently ranked in the top 36% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Core Insights - True value in investments is derived from growth rather than short-term gains, emphasizing the importance of a long-term perspective [1] - Great businesses provide significant societal value and demonstrate durability, which is a key factor in their valuation [1] - Companies that offer products and services significantly superior to competitors are positioned for substantial growth [1] Business Characteristics - Selection, convenience, and value are critical attributes sought in businesses [1] - Durability acts as a multiplier for value, with a preference for non-cyclical businesses [1] - The ability to innovate and maintain competitive advantages through unique product features is essential [1] Revenue and Structure - Companies should aim to develop multiple revenue streams and possess anti-fragile business structures [1] - Complex operations can be advantageous, and resilience in the face of adversity is a valuable trait [1] - Uniqueness is identified as the primary driver of value [1] Cost and Investment Strategy - Low costs associated with maintaining existing business operations allow for high leverage in reinvestment and growth [1] - Minimal marketing expenditures are preferred, indicating a strong product-market fit [1] - Trust and network effects are important indicators of a company's durability [1] Management and Leadership - Effective management is crucial, with a preference for executives who have aligned interests and a strong focus on the business [1] - Companies led by seasoned CEOs, founders, or family businesses are favored [1] - A culture that empowers employees and attracts talent is indicative of a good business [1] Market Timing and Investment Philosophy - The best investment opportunities arise when negative news is already priced in, revealing true value [1] - Companies that can withstand layoffs and market downturns are seen as more valuable [1] - Price movements are influenced by expectations and surprises, with a focus on undervalued companies amidst negative sentiment [1]

Group 1 - Northwestern Health Sciences University (NWHSU) announced the creation of a major endowed scholarship by The Joint Corp., the largest franchisor of chiropractic care in the U.S. [1][6] - The scholarship aims to support chiropractic students and future healthcare leaders, with the first award expected in winter 2026 [4][2]. - The endowment will generate over $6,000 annually for scholarships, contributing to NWHSU's goal of increasing student affordability [4][3]. Group 2 - The Joint Corp. operates over 950 chiropractic clinics nationwide and has more than 14 million patient visits annually, positioning itself as a leader in the chiropractic industry [6][5]. - The company has been recognized in various rankings, including being named "No. 1 in Chiropractic Services" by Entrepreneur and listed among the "Top 50 Franchises" by SUCCESS [6][5]. - The Joint's business model focuses on making chiropractic care convenient and affordable, eliminating the need for insurance [6][7].