New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For CI;AET From The Last 14 Days
Check below for free stories on CI;AET the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 24, 2014
12:50 EDTAETOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday following reports from some of the biggest names in technology and ahead of reports tonight from several other tech giants. The averages opened in positive territory, with the tech-heavy Nasdaq up more than 1% soon after the opening bell. The index was unable to hold its early gains and moved into negative territory, taking the other major averages with it. The indexes were able to keep their losses to a minimum and eventually regrouped and made it back onto positive ground, where they stood near noon. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 24K from the prior week to 329K in the week ended April 19, which was above the 315K consensus forecast of analysts, though there may have been some impact from Easter as the Bureau of Labor Statistics noted difficulty adjusting the data around the holiday. Durable goods orders rose 2.6% in March, beating the 2.0% increase that was forecast. Outside the U.S., Russia said it launched military exercises along the Ukrainian border after Ukrainian forces killed pro-Russian militants. COMPANY NEWS: Shares of Apple (AAPL) advanced more than 8% after the company reported significantly better than expected quarterly earnings and sales, particularly sales of its iPhone. Apple also announced a 7-for-1 stock split that will take effect in June, along with an 8% increase in its quarterly dividend and a $30B increase in its share repurchase authorization. Following last night's report, CLSA upgraded its rating on Apple shares to Buy from Outperform and raised its price target for the stock to $695 from $610, while Jefferies recommended "aggressively" buying shares following the Q2 results and outlook for Q3... Another tech giant, Facebook (FB), also reported earning and revenue that topped expectations last night, sending its shares higher in after-hours trading and prompting a number of price target hikes among Street analysts. However, Facebook also announced that its CFO David Ebersman will step down, to be succeeded by David Wehner, who is currently the company's Vice President of Corporate Finance and Business Planning. The social network operator traded on both sides of the flat-line this morning, but was up a bit over 1% at midday... Shares of General Motors (GM) fell about 2% after the company reported profits that narrowly edged out expectations but revenues that fell short of expectations. GM said its core operating performance has been on plan for the year CEO Mary Barra said the company has seen "no meaningful slowdown" in its U.S. sales despite the negative publicity related to its ongoing ignition switch recall and associated legal matters. MAJOR MOVERS: Among the notable gainers was orthopedic device maker Zimmer Holdings (ZMH), which climbed 11% after it agreed to merge with privately held Biomet in a cash and stock transaction valued at about $13.35B, including the assumption of net debt. Also higher following their earnings reports were Citrix Systems (CTXS), which rose 10%, D.R. Horton (DHI), which gained more than 7%, and Aetna (AET), which advanced 6%. Among the noteworthy losers was chip making giant Qualcomm (QCOM), which slid 3.5% despite reporting profits that beat expectations and raising its yearly EPS outlook, as the company also disclosed the receipt of a notice from the SEC about a potential filing of an enforcement action against the company related to anti-bribery violations. Also lower following their earnings reports were Xilinx (XLNX), which fell about 9%, Raytheon (RTN), which dropped 4%, and Hershey (HSY), which also declined about 4%. INDEXES: Near midday, the Dow was up 19.49, or 0.12%, to 16,521.14, the Nasdaq was up 25.91, or 0.63%, to 4,152.87, and the S&P 500 was up 5.35, or 0.29%, to 1,880.74.
11:31 EDTCI, AETAetna rises after topping expectations, raising guidance
Shares of healthcare insurer Aetna (AET) are advancing after its first quarter results topped analysts' consensus estimates and it raised its fiscal 2014 outlook. WHAT'S NEW: This morning, Aetna reported Q1 adjusted earnings per share of $1.98 and revenue of $13.99B, topping expectations of $1.56 and $13.72B, respectively. Medical membership in Q1 increased to over 22.7M, a sequential increase of 529,000 members. Aetna is targeting year-end medical membership of more than 23M, an increase of 800,000-1M members for the year. “Aetna posted higher operating earnings, operating revenues and medical membership in the first quarter, each representing historic highs for our company...This performance is once again a testament to the strength of our diversified portfolio, continued progress in integrating the Coventry acquisition, pricing discipline and solid execution. Our strong membership growth in the quarter came from both our commercial and government businesses, and we project this momentum will continue,” said Mark Bertolini, Aetna chairman, CEO and president. WHAT'S NOTABLE: The company raised its FY14 EPS view to $6.35-$6.55 from at least $6.25, versus consensus of $6.38. It also raised its FY14 revenue outlook to $56B-$57B from at least $54B, compared to consensus of $54.89B. PRICE ACTION: In late morning trading, Aetna rose $3.61, or 5.2%, to $72.52 on heavy trading volume. Including today's advance, the stock up about 27% over the past twelve months. OTHERS TO WATCH: Other companies in the healthcare benefits space include UnitedHealth Group (UNH), Cigna (CI), WellPoint (WLP) and Humana (HUM), all of which are higher on the session.
08:59 EDTAETOn The Fly: Pre-Market Movers
Subscribe for More Information
06:34 EDTAETAetna reports Q1 Health Care revenue $13.2B
Subscribe for More Information
06:33 EDTAETAetna sees FY14-end membership of at least 23M
06:33 EDTAETAetna raises FY14revenue to $56B-$57B from at least $54B, consensus $54.89B
Subscribe for More Information
06:03 EDTAETAetna raises FY14 EPS to $6.35-$6.55 from at least $6.25, consensus $6.38
06:03 EDTAETAetna reports medical membership totaled over 22.7M at March 31
Subscribe for More Information
06:02 EDTAETAetna reports Q1 adjusted EPS $1.98, consensus $1.56
Subscribe for More Information
April 23, 2014
15:35 EDTAETNotable companies reporting before tomorrow's open
Subscribe for More Information
14:36 EDTAETEarnings Preview: Aetna shares relatively flat since last earnings report
Aetna (AET) is scheduled to report first quarter earnings before the market open on Thursday, April 24 with a conference call scheduled for 8:30 am ET. Aetna operates as a diversified health care benefits company in the United States. EXPECTATIONS: Analysts are looking for earnings per share of $1.56 on revenue of $13.72B, according to First Call. The consensus range for EPS is $1.44-$1.63 on revenue of $13.31B-$14.28B. LAST QUARTER:On February 6, Aetna reported fourth quarter EPS of $1.34 against estimates of $1.36 on revenue of $13.1B against estimates of $13.14B. In its Q4 report, Aetna said it sees medical membership rising by 50,000 at end of Q1. On April 17, Aetna and other health insurers fell after UnitedHealth (UNH) reported lower than expected Q1 revenue and cited taxes levied by the Affordable Care Act and weak funding of Medicare Advantage by the government weighed on results. STREET RESEARCH: On March 25, FBR Capital removed Aetna from its Top Picks List due to share performance. PRICE ACTION: Shares of Aetna are up approximately 1.5% to $68.99 since its last earnings report. Shares are fractionally higher today in afternoon trading.
07:00 EDTAETTerrapinn to hold a conference
Subscribe for More Information
April 17, 2014
12:53 EDTAETOn The Fly: Midday Wrap
Subscribe for More Information
10:51 EDTAETHealth insurers slide after UnitedHealth results, cautious comments
Shares of a number of health insurers are falling after the largest company in the sector, UnitedHealth (UNH), reported slightly higher than expected first quarter profit but lower than expected revenue. WHAT'S NEW: UnitedHealth's first quarter earnings per share came in at $1.10, versus the consensus outlook of $1.09. The insurer reported revenue of $31.71B, compared with the consensus outlook of $31.99B. Taxes levied by the Affordable Care Act and weak funding of Medicare Advantage by the government weighed on UnitedHealth's earnings, the company stated. Also pushing down the company's earnings was "a very expensive," new Hepatitis C therapy, UnitedHealth stated on its earnings conference call. Hepatitis C treatments cost UnitedHealth hundreds of millions of dollars in the first quarter, the company stated, though it also noted that demand for the treatments should drop going forward as initial pent-up demand for them starts to decline. The company indicated that it was looking to be reimbursed by states for the money it is spending on hepatitis vaccines for Medicaid patients. Meanwhile, UnitedHealth reiterated its fiscal 2014 EPS guidance of $5.40-$5.60 and its fiscal 2014 revenue guidance of $128B-$129B. PRICE ACTION: In mid-morning trading, UnitedHealth sank 3.7% to $75.31. Other health insurers also declined, with WellPoint (WLP) dropping 4% to $91.89, Aetna (AET) falling 3.3% to $67.54, Humana (HUM) declining 2.25% to $106.35, and Health Net (HNT) sliding 1% to $31.74.
April 16, 2014
10:08 EDTAETUnitedHealth retreats after Citi cuts rating on shares
Subscribe for More Information
April 15, 2014
06:32 EDTCI, AETPatients paying much more for specialty drugs, NY Times says
The amount that patients with certain diseases must pay for specialty drugs has increased significantly, a research firm reported, according to The New York Times. Meanwhile, consumers' use of health care increased in 2013 for the firm time in three years, the newspaper quoted the firm, the IMS Institute for Healthcare Informatics, as saying. Publicly traded drug makers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Publicly traded health insurers include AMERIGROUP (AGP), Aetna (AET), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH), WellCare (WCG) and WellPoint (WLP).Reference Link
April 11, 2014
10:05 EDTAETAetna, Tenet form accountable care collaboration in San Antonio
Aetna (AET), Tenet’s (THC) Baptist Health System and HealthTexas Medical Group announced an accountable care collaboration and the introduction of the Aetna Whole Health product in the San Antonio area. The health plans, designed for fully insured customers with employees who live or work in Bexar, Guadalupe, Comal and Kendall counties, will be available on July 1.

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