Beacon Equity Research: Healtways Shares Plunge on Outlook (HWAY)
Shares of Healthways Inc. (NASDAQ: HWAY), a provider of solutions to help people to maintain or improve their health, are sinking in today’s trading after the company slashed the upper end of 2011 earnings forecast. The company also said that it expects a significant drop in revenue from its contract with Cigna Corp. (NYSE: CI). At last check, Healthways shares were trading 42.16% lower at $6.46, with volume up from daily average of 206,726 to 2.26 million. Healthways said that it expects a reduction in revenue from Cigna, its largest customer, in 2012 due to the winding down of the…