On Thursday, CIGNA Corporation (NYSE:CI)’s shares inclined 0.26% to $135.37.
Cigna (CI) has launched a collaborative care initiative with the University of California, San Francisco (UCSF) that aims to improve patient access to health care, enhance care coordination, and achieve the aim of improved health, affordability and patient experience. With the launch of this initiative, which becomes effective October 1, Cigna will have eight collaborative care arrangements throughout California.
Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. The company’s Commercial segment offers insured and self-insured customers medical, dental, behavioral health, and vision, in addition to prescription drug benefit plans, health advocacy programs, and other products and services.
Moody’s Corporation (NYSE:MCO)’s shares dropped -0.72% to $97.49.
Moody’s Corporation (MCO) has updated its methodology for the financial statement adjustments it uses in rating analysis for non-financial corporate globally. The main changes are revised standard adjustments for operating leases and refinement of the criteria for when adjustments are made for securitizations and factoring arrangements.
The updated methodology, “Financial Statement Adjustments in the Analysis of Non-Financial Corporations,” is now accessible on www.moodys.com and can be accessed via this link: http://www.moodys.com/viewresearchdoc.aspx?docid=PBC_181430. The update follows a market consultation initiated via a Request for Comment that was published in April 2015.
The most noteworthy changes relate to Moody’s approach to operating leases, placing greater emphasis on capitalizing the minimum legal obligation under lease commitments, which the rating agency estimates by a present value calculation. Moody’s previous approach to capitalizing operating leases derived a debt adjustment for most issuers from a multiple of annual rent. The multiples Moody’s used varied by sector and were established to align with a scenario in which a company borrows to buy assets rather than leasing them. The lower adjusted debt amounts that result in most cases under Moody’s updated approach align with a view that companies leasing assets have more flexibility in their legal and financial arrangements than when they incur debt to purchase the assets.
Under the updated methodology, Moody’s will continue adjusting debt by calculating a present value for each company. The rating agency will use this amount or the amount derived from the use of a sector multiple applied to annual rent. However, present value will be the basis for the capitalized debt amount for many more companies than before because the sector multiples will be lower than they were formerly in almost all cases. Ranging from 3x to 6x, rather than 5x to 8x, the new multiples will serve as a minimum floor to the present value calculation because Moody’s anticipates that companies with very short lease tenors will renew most leases.
Moody’s Corporation provides credit ratings; and credit, capital markets, and economic related research, data, and analytical tools worldwide. The company operates through Moody’s Investors Service and Moody’s Analytics segments. The Moody’s Investors Service segment publishes credit ratings on debt obligations and entities that issue such obligations comprising various corporate and governmental obligations, structured finance securities, and commercial paper programs. This segment provides ratings in about 120 countries.
At the end of Thursday’s trade, Support.com, Inc. (NASDAQ:SPRT)‘s shares dipped -5.36% to $1.06.
Support.com, Inc. (SPRT), makers of cloud-based Nexus® software for Support Interaction Optimization (SIO) and a leading provider of tech support and turnkey support center services, recently declared that TMC, a global, integrated media company, has named Nexus as a 2015 TMC Labs Innovation Award winner as presented by TMC’s CUSTOMER magazines.
The TMC Labs Innovation Award honors products that display innovation, unique features, and noteworthy contributions toward improving communications technology. The TMC Labs Innovation Award is granted to those companies demonstrating ground-breaking contributions to the industry. The 2015 CUSTOMER Magazine TMC Labs Innovation Award results are published in the current issue of CUSTOMER magazine.
Support.com, Inc. provides cloud-based software and services in North America. It offers Nexus, a cloud based software-as-a-service solution that provides automation and analytics for companies to resolve technology issues and optimize support interactions with their customers.
NCR Corporation (NYSE:NCR), ended its Thursday’s trading session with 1.23% gain, and closed at $23.03.
NCR Corporation (NCR), the global leader in consumer transaction technologies, declared recently that Nationwide Building Society has chosen NCR to assist transform its branch experience and banking services accessible on-line, on-mobile and via other digital channels for its members. After adopting NCR CxBanking software earlier this year to provide exceptional customer experience across digital and physical channels, Nationwide will now be adding the latest multifunction NCR SelfServ™ 91 ATM to the existing suite of devices across its retail estate. This is part of Nationwide’s 500 branch refurbishment program being carried out over the next 5 years.
Building on Nationwide’s heritage of innovation and strategy to implement convenient customer-centric technology at the heart of its retail banking strategy, the Society continues to invest significantly in connecting its branch and digital banking experiences. This comprises £500m invested in its branches over next five years, underlining Nationwide’s confidence in the future of the branch alongside its commitment to digital channels. By providing customers with a choice of how, where and when they can bank, Nationwide aims to provide the best customer service and maintain its reputation as a personable place to bank in recently’s digital society.
NCR Corporation, a technology company, provides solutions and services that enable businesses to connect, interact, and transact with their customers worldwide. The company operates through four segments: Financial Services, Retail Solutions, Hospitality, and Emerging Industries.
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