NEW YORK, NY / ACCESSWIRE / August 7, 2017 / Arista Networks' shares skyrocketed on Friday and hit a new high after smashing in its second quarter earnings report. The company also put out an outlook for the third quarter that would represent a 42.2% gain at the midpoint in year over year growth. Despite reporting a second quarter earnings report that beat in both revenue as well as earnings, Cigna Corporation closed in red.

RDI Initiates Coverage on:

Arista Networks, Inc.
https://ub.rdinvesting.com/news/?ticker=ANET

Cigna Corporation
https://ub.rdinvesting.com/news/?ticker=CI

Arista Networks, Inc.'s shares closed up 19.44% on Friday and hit a new high of $175.40. Trading volume was nearly 5 million shares after the company beat in its second quarter earnings report on both the top and bottom line. The California-based computer networking company reported revenue of $405.2 million which was about $45 million ahead of the Wall Street estimate. It was also a gain of 50.8% year over year. Non-GAAP EPS at $1.34 was way higher than the $0.39 expected by analysts and higher than the $0.74 from the year ago period. CEO Jayshree Ullal remarked, "As we complete our third anniversary of becoming a public company, I am pleased with our record results in Q2 2017. Our substantial financial performance, customer success and industry recognition has accelerated the migration to mainstream cloud networking." Looking ahead, the company sees revenue of $405 million and $420 million for the third quarter. This would be a year over year growth of 42.2% at the midpoint of that forecast.

Access RDI's Arista Networks, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=ANET

Cigna Corporation hit a new high of $178.50 on Friday but shares still closed in the red, down 1.99% after reporting its second quarter earnings report. The Connecticut-based company reported a profit of $3.15 per share. Adjusted for one-time gains and costs, EPS came out to $2.91 per share. This was higher than the $2.48 a share that analysts had expected. Revenue adjusted was $10.27 billion, also higher than the $9.98 billion that Wall Street expected. The health insurance company also forecast full year earnings in the range of $9.75 to $10.05 per share. According to Cigna, its participation "individual markets is contingent on market conditions and regulatory approval, which are not determined until the end of September." Currently, however, the company sells individual ACA-compliant business in seven states and hasn't announced if it plans to withdraw from these markets next year. The stock has soared over 29% since the start of 2017.

Access RDI's Cigna Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=CI

Our Actionable Research on Arista Networks, Inc. (NYSE: ANET) and Cigna Corporation (NYSE: CI) can be downloaded free of charge at Research Driven Investing.

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