These 15 CT-based companies made the 2024 Fortune 500 list of largest U.S. corporations [The Hour, Norwalk, Conn.]
Jun. 4—Fifteen Connecticut-headquartered companies made the 2024 Fortune 500 list of the largest corporations in the
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The 2024 Fortune 500 companies cumulatively account for two-thirds of the
The following is a rundown of recent developments at the
No. 16:
Cigna is perennially the highest-ranked
The company operates with more than 74,000 employees worldwide, including several thousand people based in
Last year, the company reportedly pursued a merger with another health care giant, Humana. But by last December, it had apparently ended talks for such a deal, which would have boosted its Medicare Advantage membership.
As one of the country's largest companies, Cigna's operations attract scrutiny. Last year, a Congressional committee announced that it was investigating the company, in response to a report by
Cigna said in a statement, "we welcome the opportunity to fully explain our (procedure-to-diagnosis) process to regulators and correct the many mischaracterizations and misleading perceptions ProPublica's article created."
Among other issues, the company was criticized last December by Sen.
No. 76:
As a sign of the growing importance of streaming services, Spectrum services provider Charter has been accelerating the roll-out of the Xumo Stream Box. Xumo provides access to many streaming video apps alongside the cable TV packages that many subscribers already have.
While Xumo is intended to help customers save on their bills, Charter told state regulators last December that it would raise the price of its Spectrum TV Select package and several others, while also increasing a "broadcast TV surcharge" by
Charter and other carriers have cited the escalating costs of new "carriage" deals with networks as a contributor to rising rates and fees.
Last year, Charter became briefly embroiled in a standoff with The
At the end of last year, Charter served about 32 million customers nationwide.
No. 121:
The tobacco producer has been headquartered in
As one of the world's largest tobacco companies, PMI ships hundreds of billions of cigarettes outside the
At the same time, PMI is aiming to significantly increase sales of "smoke-free" products in the next few years. Its smoke-free products available in this country include Zyn nicotine pouches, while it is planning the
PMI officials acknowledge tobacco's massive public health impact, but they argue that immediately shutting down cigarette production would be counter-productive. Many anti-smoking advocates remain unconvinced by the company's strategy.
No. 166:
The property-and-casualty insurer and provider of group benefits saw gains in a number of areas in 2023, including an 11 percent year-over-year increase in "core earnings."
The
No. 190:
After being acutely affected during the first year of the COVID-19 pandemic, the online travel-services provider has benefited in the past few years from the comeback in tourism and business travel.
In
No. 191: Synchrony,
In 2023, inflation continued to exert significant pressure on consumer spending — but the country's largest provider of store-brand and private-label credit cards still saw robust activity. Its average of about 71.5 million active customer accounts in the fourth quarter of last year was up 5 percent from the same period in 2022.
No. 263:
Through a program launched in the summer of 2022, the toolmaker is aiming to achieve about
Stanley officials have indicated they remain confident the cost-cutting will help the company reach its financial goals.
"As we report our first-quarter performance, we are energized by our transformation efforts," CEO and President
No. 298:
The world's largest equipment-rental company has a long history of acquisitions. It did not purchase any other companies in 2023, but it completed in
No. 301:
The manufacturer and servicer of elevators, escalators and moving walkways makes its fourth appearance in the Fortune 500, following its 2020 spin-off from
CEO
No. 324:
The provider of construction, infrastructure and building services, announced last year that it would acquire
No. 325:
The electronic-components manufacturer last year acquired
Among other developments in the past year,
No. 340:
Among initiatives launched last year, the property-and-casualty insurer announced the formation of Berkley Specialty Excess to offer excess liability coverage in certain markets, with an initial focus on the environmental and energy industries.
No. 402:
After being spun off from fellow Fortune 500 firm XPO in 2021, warehouse operator GXO makes its third appearance in the Fortune 500.
In April, it completed the nearly
GXO describes itself as the "largest pure play logistics operator," and it employs with more than 130,000 employees worldwide. Its operations include two facilities in its home state, in
The company is headquartered at
No. 473:
The ascension into the Fortune 500 of one of the world's largest electronic brokerages reflects a surge in trading since the beginning of the pandemic. In the fourth quarter of 2023,
As it has grown in the past few years,
The company has also faced regulatory pressure. Last year, it reached settlements totaling
No. 475: XPO,
XPO has undergone far-reaching changes in the past few years.
The company's transformation started in 2021, with the spin-off of GXO. In 2022, it spun off its truck-brokerage business, which is now known as RXO and headquartered in
XPO officials have said that they believe the company will be more effective as a "pure-play" specialist in less-than-truckload shipping, which allows multiple customers to ship goods in the same truck.
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