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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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December 16, 2014
08:13 EDTCNCCentene price target raised to $125 from $108 at Cantor
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07:57 EDTCNCCentene price target raised to $118 from $102 at Credit Suisse
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December 15, 2014
16:02 EDTWCGWellCare names current COO Kenneth Burdick as CEO
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08:41 EDTCNCCentene price target raised to $120 from $100 at Leerink
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December 12, 2014
09:35 EDTGILDActive equity options trading
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06:06 EDTCNCCentene sees FY15 EPS $5.05-$5.35, consensus $4.92
Sees FY15 premium and service revenues $20.3B-$20.8B.
06:05 EDTCNCCentene backs FY14 EPS view of $4.35-$4.50, consensus $4.28
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December 11, 2014
16:01 EDTGILDOptions Update; December 11, 2014
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11:55 EDTGILDGilead shares look cheap, poised for growth, Barron's says
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07:54 EDTGILDGilead shares poised to continue to advance, says RBC Capital
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December 10, 2014
15:59 EDTGILDGilead sued by SEPTA over price of Hep C drug Sovaldi, WSJ reports
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14:45 EDTCNC, WCGDeal would block payments to health insurance companies, The Hill says
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December 9, 2014
10:31 EDTCNCCentene to host investor meeting
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09:38 EDTGILDActive equity options trading
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08:38 EDTGILDGilead price target raised to $130 from $110 at Argus
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December 8, 2014
16:00 EDTGILDOptions Update; December 8, 2014
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10:02 EDTGILDGilead presents follow-up data from Zydelig registrational studies
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December 5, 2014
09:36 EDTGILDActive equity options trading
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07:37 EDTGILDGilead price target raised to $121 from $110 at JPMorgan
JPMorgan raised its price target for Gilead shares to $121 saying the company's potential cash flow generation is "immense" and provides "significant strategic flexibility." The firm estimates Gilead can generate more than $30B in cash in the next two years and $80B-plus over the next five years. It keeps an Overweight rating on the stock.
December 4, 2014
09:01 EDTGILDVA negotiated $594 per dose price for Gilead HCV treatment
A Veterans Health Administration official told a Senate committee yesterday that Veterans' Affairs has "moved rapidly to deploy new, more effective, less toxic HCV treatments and has been able to negotiate significant discounts for these newer therapies." The agency negotiated a price of $594 per dose for Gilead's (GILD) Hepatitis C virus drug Sofosbuvir, below the commercial price of $1,000 per dose, VHA Chief Consultant for Pharmacy Benefits Management Michael Valentino told the Senate's Committee on Veterans' Affairs. The agency also received a $413 per dose price for Johnson & Johnson's (JNJ) Simeprevir, below the commerical price of $790. The VA has approximately 174,000 veterans in care with HCV, making it the largest single HCV provider in the U.S., Valentino pointed out. He added, "Like the rest of the country, VA has treated only a portion of Veterans for HCV because treatment and cures have been difficult to achieve due to low efficacy and high toxicity of standard drug therapies." Reference Link
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