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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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October 28, 2014
06:19 EDTCNCCentene backs FY14 EPS view of $4.35-$4.50, consensus $3.83
Sees FY14 Premium and Service Revenues $15.3B-$15.8B.
06:16 EDTCNCCentene reports Q3 EPS $1.34, consensus 96c
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October 27, 2014
16:00 EDTGILDOptions Update; October 27, 2014
iPath S&P 500 VIX Short-Term Futures down 52c to 32.66. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX GILD CLF PBR according to Track Data.
09:37 EDTGILDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL PBR TWTR AMZN M NQ GILD C FB NFLX
08:27 EDTGILDGilead volatility elevated into Q3 and outlook
Gilead October weekly call option implied volatility is at 63, November is at 38, December and January is at 33; compared to its 26-week average of 33 according to Track Data, suggesting larger near term price movement into the expected release of Q3 results on October 28.
07:22 EDTGILDAmerican College of Chest Physicians to hold a conference
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06:14 EDTCNCCentene subsidiary recommended for contract award by Louisiana DHH
Centene announced that its wholly-owned Louisiana subsidiary, Louisiana Healthcare Connections, has been recommended for a contract award by the Louisiana Department of Health and Hospitals, or DHH, to serve its Bayou Health, or Medicaid, beneficiaries. A contract is contingent upon successful negotiations with DHH and approval by the Division of Administration and by the Centers for Medicare and Medicaid Services, or CMS, Regional Office. The new Bayou Health contract is expected to commence in early 1Q15. Under the new contract, Louisiana Healthcare Connections expects to serve 320,000-350,000 Medicaid beneficiaries on an at-risk basis via a network of 10,500 primary care providers and specialists. This expansion will more than double annual revenues for Louisiana Healthcare Connections.
October 26, 2014
12:49 EDTCNCCentene announces new claims processing facility
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October 24, 2014
16:02 EDTGILDOptions Update; October 24, 2014
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11:55 EDTGILDStocks with call strike movement; YHOO GILD
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October 23, 2014
08:35 EDTGILDGilead weekly volatility increases into Q3 and outlook
Gilead October weekly 31 call option implied volatility is at 43, December and January is at 33; compared to its 26-week average of 33 according to Track Data, suggesting larger near term price movement into the expected release of Q3 results on October 28.
October 22, 2014
09:38 EDTGILDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL PBR AMZN C TWTR YHOO BAC GILD FB THRX DOW CAR
07:35 EDTGILDCardiometabolic Health Congress to hold annual meeting
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October 21, 2014
09:37 EDTGILDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL PBR AMZN C TWTR CVX VZ MCD GILD TXN
08:45 EDTGILDGilead Hep C drug barely used in California prisons due to cost, SFGate reports
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October 20, 2014
09:36 EDTGILDActive equity options trading on open
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October 17, 2014
16:01 EDTGILDOptions Update; October 17, 2014
iPath S&P 500 VIX Short-Term Futures down 1.75 to 38.58 Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX GILD CLF PBR according to Track Data.
09:38 EDTGILDActive equity options trading on
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October 16, 2014
13:31 EDTGILDGilead announces Harvoni Notice of Compliance from Health Canada
Gilead Sciences announced that Health Canada has issued a Notice of Compliance for Harvoni. Harvoni combines the NS5A inhibitor ledipasvir with the nucleotide analog polymerase inhibitor sofosbuvir, granted marketing authorization under the tradename Sovaldi in December 2013. The efficacy of Harvoni has been established in patients with chronic hepatitis C virus genotype 1 infection, with a treatment duration of eight, 12 or 24 weeks depending on prior treatment history, cirrhosis status and baseline viral load. Eight weeks of treatment with Harvoni can be considered for treatment-naive patients without cirrhosis who have baseline HCV viral load below 6M IU/mL. New Drug Submission applications are pending in Australia and New Zealand.
08:37 EDTWCGWellCare receives NCQA quality accreditation for Medicaid, Medicare plans in KY
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