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Stock Market & Financial Investment News

News Breaks
April 9, 2012
10:42 EDTMOH, AGP, CNC, WCG, UNH, AETMedicaid pure-plays decline after losing Ohio Medicaid contracts
Ohio said on Friday that it had selected Aetna (AET) and United Healthcare (UNH) to provide service to Ohioans enrolled in Medicaid beginning on January 1, 2013. The state decided not to renew the contracts of Medicaid pure-plays Amerigroup (AGP), Centene (CNC), Molina Healthcare (MOH), and WellCare (WCG). In a note to investors today, Deutsche Bank wrote that Ohio's decision is disappointing for the pure-plays, especially given the large, mature and profitable nature of the Ohio Medicaid market. However, Deutsche believes that Ohio's decision will likely have the most negative impact on Molina, but be more manageable for the other three companies. The firm notes that Ohio was Molina's largest single health plan market in 2011 and accounted for nearly 22% of its premium revenue. Deutsche adds that Ohio accounted for 7% of the total 2011 enrollment of Centene and WellCare, and less than 3% of Amerigroup's Q4 enrollment. Centene said that it would "formally protest" the state's decision, while Molina stated in an SEC filing that it's "evaluating whether to pursue" an appeal. In mid-morning trading, Molina plunged 24.36% to $26.48, Amerigroup slid 4.63% to $64.33, Centene lost 13.25% to $44.08, and WellCare sank 6.32% to $69.55.
News For MOH;AGP;CNC;WCG;UNH;AET From The Last 14 Days
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July 25, 2014
06:40 EDTWCGWellCare downgraded to Market Perform from Outperform at Wells Fargo
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06:40 EDTCNCCentene downgraded to Market Perform from Outperform at Wells Fargo
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July 24, 2014
18:15 EDTWCGWellCare down 20% after Q2 earnings and lowering FY14 guidance
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18:13 EDTWCGWellCare lowers FY14 EPS guidance to $2.20-$2.50 from $4.40-$4.75
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18:09 EDTWCGWellCare reports Q2 adjusted EPS (7c), may not compare to consensus 90c
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06:50 EDTAGP, AET, WCG, UNH, MOH, CNCConsumers received $9B in refunds from health insurers, The Hill says
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July 22, 2014
13:46 EDTAET, AGP, WCG, MOH, UNH, CNCCourt upholds Obamacare subsidies, NY Times says
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10:43 EDTCNC, AET, AGP, MOH, WCG, UNHAppeals 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 21, 2014
11:02 EDTUNHUnitedHealth, Banner Health Network announce collaboration
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July 18, 2014
16:47 EDTUNHMarket ends week higher as earnings, M&A offset geopolitical tensions
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08:45 EDTUNHUnitedHealth price target raised to $94 from $84 at Oppenheimer
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July 17, 2014
16:52 EDTUNHOn The Fly: Closing Wrap
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13:18 EDTUNHOn The Fly: Midday Wrap
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09:13 EDTUNHUnitedHealth expects improving environment in 2016 and beyond
Expects to expand up to two dozen state exchanges in 2014. Project 6% commercial medical cost trend for 2016, with costs in line with company's plan and remains moderate. Expects margins to reach 7% this year, in line with original forecast. Expects Optum revenue to accelerate in 2H14, and particularly in Q4. Comments taken from Q2 earnings conference call.
06:18 EDTUNHUnitedHealth reports Q2 Optum revenue $11.7B
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06:18 EDTUNHUnitedHealth raises low end of FY14 EPS to $5.50-$5.60 from $5.40-$5.60
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06:18 EDTUNHUnitedHealth reports Q2 EPS $1.42, consensus $1.26
Reports Q2 revenue $32.57B, consensus $32B
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