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Stock Market & Financial Investment News

News Breaks
June 3, 2014
10:09 EDTCNC, WCG, GILDCentene, WellCare decline after analyst rejects takeover speculation
Shares of Medicaid plan operators Centene (CNC) and WellCare (WCG) are declining after Citigroup wrote that Ascension Health is not buying a publicly traded Medicaid health plan, as was previously rumored. Ascension Health is a nonprofit healthcare provider. Citigroup cut its rating on Centene to Sell from Neutral in a note to investors earlier today. WHAT'S NEW: Ascension Health is not buying a publicly traded Medicaid plan, as some had speculated last week, Citigroup analyst Carl McDonald stated. Last week Ascension's CEO reportedly said that it was in talks to acquire an unnamed insurance company that operates in 18 states, leading research firm Leerink to speculate that Ascension was likely looking to buy WellCare or that it may be interested in buying Centene. But McDonald rejected both scenarios, as he reported that Ascension recently wrote that the purchase price of the insurer it was poised to buy would not be material. Meanwhile, after rising 6% over the last week, Centene's stock doesn't seem to be adequately reflecting the risk to the company's earnings over the near-term, contended McDonald. The cost of Gilead's (GILD) Sovaldi hepatitis C drug, along with the addition of new markets with low profit margins, are likely to weigh on Centene's earnings, the analyst wrote. The long-term outlook for Medicaid remains positive, but Centene's stock is likely to reach a more favorable entry point in the future, according to McDonald, who has a $65 price target on the stock. PRICE ACTION: In early trading, Centene fell 3.5% to $73 and WellCare gave back 2% to $76.
News For CNC;WCG;GILD From The Last 14 Days
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July 24, 2014
05:37 EDTGILDGilead announces new agreement with MPP
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July 23, 2014
16:13 EDTGILDGilead raises FY14 net product sales guidance to $21B-$23B from $11.3B-$11.5B
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16:09 EDTGILDGilead reports Q2 product revenue $6.41B vs. $2.66B last year
Reports Q2 Royalty, contract, and other revenues $122M vs. 110.1M last year. John C. Martin, PhD, Gilead’s chairman and CEO stated, “During Q2, Gilead continued to make significant progress led by strong Sovaldi sales. Since December’s launch, Sovaldi has been prescribed for more than 80,000 patients in the U.S. and Europe, underscoring the medical community’s recognition of the benefits of this product. We look forward to making Sovaldi available in additional countries.”
16:05 EDTGILDGilead reports Q2 EPS $2.36, consensus $1.79
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16:01 EDTGILDGilead trading halted, pending news
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16:00 EDTGILDOptions Update; July 23, 2014
iPath S&P 500 VIX Short-Term Futures up 23c to 28.17. Option volume leaders: AAPL FB C GILD MSFT PBR NFLX AMZN TWTR TSLA according to Track Data
15:43 EDTGILDGilead July weekly 90 straddle priced for 5.5% move into Q2
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15:30 EDTGILDNotable companies reporting after market close
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11:40 EDTGILDFDA approves Zydelig for three types of blood cancers
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July 22, 2014
13:46 EDTWCG, CNCCourt upholds Obamacare subsidies, NY Times says
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10:43 EDTCNC, WCGAppeals court bars subsidies in health care law
A three-judge panel of the D.C. Circuit Court of Appeals struck down part of President Obama's healthcare law by siding today with plaintiffs who argued that the law barred the government from giving subsidies to people in states that chose not to set up their own insurance marketplaces. The appeals court stated, "Because we conclude that the ACA unambiguously restricts the section 36B subsidy to insurance purchased on Exchanges 'established by the State,' we reverse the district court and vacate the IRS’s regulation." Twenty-seven states decided against setting up marketplaces, and another nine states partially opted out, according to the Washington Post.
06:47 EDTCNCCentene up 2.1% following Q2 earnings release
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06:14 EDTCNCCentene sees FY14 EPS $3.70-$3.90, consensus $3.73
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06:14 EDTGILDGilead July weekly volatility elevated into Q2
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06:12 EDTCNCCentene reports Q2 EPS ex-items 95c, consensus 72c
Reports Q2 revenue $4.02B, consensus $3.66B. Reports Q2 EPS 79c. Reports Q2 premium and service revenues $3.74B.
July 21, 2014
16:00 EDTGILDOptions Update; July 21, 2014
iPath S&P 500 VIX Short-Term Futures up 65c to 28.53. Option volume leaders: AAPL FB NFLX DG CMCSA GILD PBR TWTR TSLA according to Track Data.
09:38 EDTGILDActive equity options trading on open
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07:21 EDTGILDGilead could be hurt by new HCV drugs, says Wells Fargo
Noting that data on a new Merck (MRK) HCV treatment is expected in November, Wells Fargo thinks Merck's HCV drug could be combined with Gilead's (GILD) Sovaldi to shorten the duration of treatment to four weeks. Other companies could take similar actions, and Gilead's per patient revenues would be significantly reduced if this occurs, the firm warned. However, it continues to have an upbeat outlook on Gilead heading into what it sees as a strong quarter and is still upbeat on the company's long-term HCV opportunity. It keeps an Outperform rating on Gilead.
06:43 EDTGILDGrowing market for hepatitis-C treatment prompts legal scramble, WSJ says
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July 20, 2014
12:46 EDTGILDGilead drug cocktail helps treat HIV/HCV-coinfected patients, JAMA says
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