Shares of Aetna Inc. sank 10 percent Thursday after the health insurer reported a first quarter performance that missed Wall Street expectations, and it failed to raise its 2012 earnings forecast.

The third-largest U.S. commercial health insurer said earnings fell 13 percent and reaffirmed that it expects 2012 adjusted earnings, which exclude capital gains or losses, of about $5 per share. That falls about 15 cents below what analysts expectations.

On the news, Aetna's stock fell $5.03, to $44.33, while the Standard and Poor's 500 Index rose slightly.

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