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Stock Market & Financial Investment News

News Breaks
June 3, 2014
06:36 EDTWCG, CNCCentene downgraded to Sell from Neutral at Citigroup
Citigroup downgraded Centene (CNC) to Sell saying that Ascension Health is not buying a publicly traded health plan, as has been speculated. Citi notes that in a recent bond document, Ascension stated that it has entered into a non-binding letter of intent to buy an insurance company, saying the purchase price "would not be material." Shares of Centene (CNC) and WellCare (WCG) rallied last week on the speculation, the firm points out. Citi sees near-term earnings risk for Centene and keeps a $65 price target for shares.
News For CNC;WCG From The Last 14 Days
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July 22, 2014
13:46 EDTWCG, CNCCourt upholds Obamacare subsidies, NY Times says
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10:43 EDTWCG, CNCAppeals 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 IRSís 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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06:12 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 14, 2014
09:28 EDTCNCCentene best positioned Medicaid pure play to post Q2 EPS beat, says Sterne Agee
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July 10, 2014
07:11 EDTWCG, CNCAetna, WellPoint top large-cap Managed Care picks at Jefferies
Jefferies calls Aetna (AET) and WellPoint (WLP) its favorite large-cap picks in the Managed Care space, with Health Net (HNT) its favored name in the small to mid-cap space. The firm believes the market is already expecting strong Q2 results from the sector, and it downgraded UnitedHealth (UNH) to Hold from Buy on valuation and below-peer earnings growth. Jefferies has Buy ratings on Aetna, Health Net, Molina Healthcare (MOH) and WellPoint.
06:23 EDTWCG, CNCHealth insurers moving away from fee for service model, NY Times reports
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