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Stock Market & Financial Investment News

News Breaks
June 3, 2014
10:09 EDTWCG, CNC, 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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April 23, 2015
07:59 EDTGILDMylan launches generic sofosbuvir tablets in India
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05:19 EDTGILDGilead Harvoni, Sovaldi demonstrate efficacy, safety
Gilead Sciences announced results from several Phase 2 clinical studies evaluating investigational uses of Harvoni and other Sovaldi-based regimens for the treatment of chronic hepatitis C virus, or HCV, infection in patients with advanced liver disease, including patients with decompensated cirrhosis, patients with fibrosing cholestatic hepatitis C and patients with portal hypertension. In SOLAR-2, 328 genotype 1 or 4 HCV patients with decompensated liver disease before liver transplantation or recurrent HCV infection following liver transplantation were randomized to receive either 12 or 24 weeks of Harvoni plus ribavirin. Ten patients were excluded from the analysis because of transplantation or because they were pre-transplantation, but not decompensated; an additional 27 of these patients have not yet reached post-treatment week 12. The most common adverse events were fatigue, anemia, nausea and headache. Overall, six patients discontinued treatment due to adverse events, five of whom had decompensated cirrhosis.
05:16 EDTGILDGilead data supports ongoing trials evaluating shortened course of therapy
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April 22, 2015
07:07 EDTGILDEuropean Association for the Study of the Liver to hold annual meeting
50th Annual Meeting of EASL will be held in Vienna, Austria on April 22-26.
April 21, 2015
16:00 EDTGILDOptions Update; April 21, 2015
iPath S&P 500 VIX Short-Term Futures down 1c to 21.53 Option volume leaders: AAPL TSLA TWTR GILD FB PBR AMZN C KMI KO VZ MCD according to Track Data.
13:34 EDTGILDGilead paying premium to buy Vertex not warranted right now, says Maxim
After Bernstein suggested in a note to investors earlier that Gilead (GILD) should buy Vertex (VRTX), Maxim responded in its own note that it does not believe paying a premium to buy Vertex makes sense before the company has data showing efficacy for Kalydeco in heterozygotes. Maxim keeps a Hold rating and $121 price target on Vertex shares.
12:33 EDTGILDOn The Fly: Top stock stories at midday
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12:21 EDTGILDVertex rises after Bernstein suggests Gilead should pursue takeover
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10:00 EDTGILDGilead spikes higher, levels to watch
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09:37 EDTGILDActive equity options trading on open
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08:14 EDTGILDGilead should buy Vertex, says Bernstein
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06:58 EDTGILDGilead May weekly volatility elevated into Q1 and outlook
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April 20, 2015
09:36 EDTGILDActive equity options trading on open
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07:20 EDTGILDAmerican Association for Cancer Research to hold annual meeting
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April 17, 2015
08:04 EDTCNCCentene's Nurtur receives full URAC accreditation
Centene announced that Nurtur, its health and wellness subsidiary, received full Disease Management Accreditation from URAC, a Washington, DC-based healthcare accrediting organization that establishes quality standards for the healthcare industry.
April 15, 2015
16:01 EDTGILDOptions Update; April 15, 2015
iPath S&P 500 VIX Short-Term Futures down 49c to 21.90. Option volume leaders: AAPL NFLX C PBR KMI RIG MCP TWTR GILD BAC according to Track Data.
April 13, 2015
16:01 EDTGILDOptions Update; April 13, 2015
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10:58 EDTWCG, CNCCigna, Humana seen as potential takeover targets in Managed Care space
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09:34 EDTGILDActive equity options trading on open
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07:33 EDTWCG, CNCJefferies sees low probability of WellCare, Centene buyouts
After running several acquisition scenarios for the Managed Care space, Jefferies says potential takeovers of WellCare (WCG) and Centene (CNC) are "hard to justify." The firm estimates acquirers will only be able to generate 1%-3% accretion from buying either company at a 20% premium to current share prices. The deal that makes the most financial sense is Aetna (AET) buying Cigna (CI), Jefferies says today in a note to investors. Also financially attractive would be a buyout of Humana (HUM) by either Anthem (ANTM) or Aetna, the firm adds. After analyzing the Managed Care space, it upgraded this morning shares of UnitedHealth (UNH) to Buy from Hold with a $141 price target. Jefferies also has Buy ratings on Aetna, Anthem, Health Net (HNT) and Molina Healthcare (MOH).
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