Matt Rourke/AP

Cigna still isn't profitable in the Obamacare exchanges, and CEO David Cordani told analysts and investors Thursday the marketplaces remain "fragile at best."

Cigna, which recorded almost $40 billion of revenue in 2016, expanded its exchange presence into three states for 2017, while also retreating from three others. The insurer will evaluate its Obamacare participation throughout the spring, Cordani said, echoing what other large insurers have said.

That Anthem deal isn't looking so hot: Cigna didn't mention Anthem at all in its earnings release, nor did Cordani talk about Anthem in his opening remarks. An analyst had to ask him about the pending merger. The two companies have had a contentious relationship, and most people expect the deal has too many antitrust hurdles to overcome. Josh Raskin, an analyst at Barclays, said in a note Thursday that "investors must view Cigna as a standalone company at this point (and we believe that most do)."

Go deeper

Media prepares to fact check debates in real time

Illustration: Annelise Capossela/Axios

From live blogs to video chyrons and tweets, media companies are introducing new ways to fact check the presidential debates in real time this year.

Between the lines: The debates themselves are likely to leave less room for live fact-checking from moderators than a traditional news interview would.

Life after Roe v. Wade

The future seems clear to both parties: The Supreme Court will overturn Roe v. Wade in the next few years, either gradually or in one fell swoop, and the abortion wars will move to a state-by-state battle over freedom and restrictions. 

What's new: Two of the leading activists on opposite sides of the abortion debate outlined for “Axios on HBO” the next frontiers in a post-Roe v. Wade world as the balance on the Supreme Court prepares to shift.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Jerome Powell, Trump's re-election MVP

Photo illustration: Annelise Capossela/Axios. Getty Images photos: Andrew Caballero-Reynolds/AFP and Lev Radin/Pacific Press/LightRocket

President Trump trails Joe Biden in most polls, has generally lower approval ratings and is behind in trust on most issues. Yet polls consistently give him an edge on the economy, which remains a top priority among voters.

Why it matters: If Trump wins re-election, it will largely be because Americans see him as the force rallying a still-strong U.S. economy, a narrative girded by skyrocketing stock prices and consistently climbing U.S. home values — but the man behind booming U.S. asset prices is really Federal Reserve chair Jerome Powell.