New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 28, 2013
08:33 EDTHNTHealth Net awarded Medi-Cal dental contracts in California
The California Department of Health Care Services has awarded Health Net of California, a subsidiary of Health Net, five-year contracts to continue providing Medi-Cal managed care dental benefits in Los Angeles and Sacramento counties. Health Net began providing services under the Sacramento contract on January 1 and is scheduled to begin providing services under the Los Angeles contract by July 1, subject to the parties agreeing to final terms and conditions.
News For HNT From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 2, 2015
13:09 EDTHNTOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory but have moved into negative ground in early afternoon trading. The nonfarm payrolls report showed that job growth slowed in June and the unemployment rate ticked down as many left the labor force. The news flow is expected to slow with investors preparing for the Independence Day weekend and the trading has been listless as is typical in the trading session prior to a long leave. However, U.S. investors will be returning to big news, either positive or negative, on Monday following the Greek referendum that is scheduled to occur on July 5. ECONOMIC EVENTS: In the U.S., the monthly nonfarm payrolls report showed the addition of 223,000 jobs, versus expectations for 233,000 jobs to have been added last month. The unemployment rate fell to 5.3% from the prior month’s 5.5% rate. Initial jobless claims rose 10,000 to 281,000 in the week ended June 27, versus expectations for 270,000 first-time claims. Factory orders fell 1.0% in May, which was larger than the expected 0.5% decline. In Europe, Greek finance minister Yanis Varoufakis said he would resign from his post if the nation's referendum on bailout terms results in a "Yes" vote. COMPANY NEWS: Shares of BP (BP) trading in New York rose more than 5% after the oil major announced it has reached agreements in principle to settle all U.S. federal and state claims arising from the Deepwater Horizon accident and spill in 2010. BP said it will pay up to $18.7B to settle the claims and that the expected impact of its agreements would be to increase the cumulative pre-tax charge associated with the accident and spill by around $10B from $43.8B at the end of the first quarter... Managed healthcare company Centene (CNC) announced a definitive agreement to acquire managed health care services rival Health Net (HNT) in a cash and stock deal valued at approximately $6.8B, including the assumption of approximately $500M of debt. Under the terms of the deal, Health Net shareholders would receive 0.622 shares of Centene common stock and $28.25 in cash for each share of Health Net common stock, which is equal to implied consideration of $78.57 per share based on Centene’s closing stock price on July 1. MAJOR MOVERS: Among the notable gainers was Intel (INTC), which was 1.5% higher in afternoon trading after the company announced this morning that President Renee James informed the board that she will be stepping down to pursue an external CEO role. Also higher was Xoom (XOOM), which gained 22% after eBay's (EBAY) soon-to-be split PayPal (PYPL) unit announced last night that it has agreed to acquire the digital money transfer provider for $25 per share in cash. Among the noteworthy losers was Western Union (WU), which slipped about 6% after Evercore ISI downgraded the stock to Hold and JMP Securities said that PayPal's deal for Xoom will negatively affect Western Union's prices over the longer term. Also lower were shares of Triple-S Management (GTS), which fell xxx% after Wells Fargo downgraded the stock to Underperform, the firm's equivalent to a "sell" rating, saying Puerto Rico's "crumbling" economy puts the company's earnings at risk. INDEXES: Near midday, the Dow was down 54.98, or 0.31%, to 17,702.93, the Nasdaq was down 20.30, or 0.4%, to 4,992.83, and the S&P 500 was down 5.11, or 0.25%, to 2,072.31.
12:00 EDTHNTCognizant ability to offset Health Net loss a positive, says Wells Fargo
Wells Fargo notes that despite the loss of $100M in revenue in the second half of 2015 from the Health Net (HNT) master services agreement being put on hold during the Centene (CNC) merger review process, Cognizant (CTSH) reaffirmed its outlook today for 2015. Wells views the company's ability to offset the contract loss as a positive and says it remains comfortable with an Outperform rating on the stock.
09:36 EDTHNTCognizant backs FY15 EPS view of at least $2.93, consensus $2.97
Subscribe for More Information
09:33 EDTHNTCognizant reaffirms 2015 view after Health Net agrees to be bought by Centene
Subscribe for More Information
09:15 EDTHNTOn The Fly: Pre-market Movers
Subscribe for More Information
08:35 EDTHNTLeerink says UnitedHealth may counter bid for Health Net
Subscribe for More Information
08:04 EDTHNTHealth Net volatility low into Centene acquiring in deal valued at about $6.8B
Subscribe for More Information
07:58 EDTHNTCentene volatility low into acquiring Health Net in deal valued at about $6.8B
Subscribe for More Information
07:32 EDTHNTCentene & Health Net to host joint conference call
Subscribe for More Information
07:05 EDTHNTCentene to acquire Health Net in deal valued at about $6.8B
Subscribe for More Information
07:02 EDTHNTCentene to acquire Health Net for implied consideration of $78.57 per share
Subscribe for More Information
07:01 EDTHNTCentene, Health Net to combine in transaction valued at about $6.8B
June 25, 2015
11:06 EDTHNTHospitals, insurers climb after Supreme Court rules on ACA subsidies
Subscribe for More Information
10:11 EDTHNTACA tax subsidies upheld by Supreme Court
The decision of the Fourth Circuit was affirmed in King v. Burwell by a vote of 6 to 3, according to multiple media reports. The Supreme Court upholding the lower court ruling means that individuals who get health insurance through an exchange established by the federal government will be eligible for tax subsidies in all 50 states. Publicly traded companies in the health insurance space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). Publicly traded companies in the hospital space include Community Health (CYH), HCA Holdings (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS).
June 22, 2015
06:37 EDTHNTHealth insurers may change policies based on King v. Burwell ruling, NYT says
Subscribe for More Information
June 19, 2015
10:09 EDTHNTFly Watch: Supreme Court may release key ACA decision soon
Subscribe for More Information
June 18, 2015
07:51 EDTHNTIncrease in 3R backstop most positive for Humana, says Leerink
Subscribe for More Information
07:38 EDTHNTLeerink to hold a roundtable
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use