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Stock Market & Financial Investment News

News Breaks
March 20, 2014
10:00 EDTAET, WCG, CIWellCare climbs after analyst says takeover probable
Shares of health insurer WellCare (WCG) are advancing after research firm Leerink wrote that the company is likely to be acquired and upgraded the stock. WHAT'S NEW: WellCare will probably be acquired in the next 18-24 months, Leerink analyst Ana Gupte wrote in a note to investors earlier today. The companies most likely to buy WellCare are Aetna (AET) and Cigna (CI), forecast Gupte after meeting with WellCare's management. The possibility of a takeover will keep WellCare from dropping significantly, while its medium-term outlook is "compelling," the analyst believes. Meanwhile, in 2015, the insurer should benefit from positive Medicare Advantage enrollment trends, wrote Gupte, who finds the stock's valuation compelling. The analyst upgraded the stock to Outperform from Market Perform and has a $74 price target on the shares. WHAT'S NOTABLE: On February 27, Credit Suisse upgraded WellCare to Outperform from Neutral, citing what it saw as the stock's favorable risk/reward ratio, along with favorable Medicaid and Medicare growth trends. The stock will be supported by a potential acquisition, the firm added. PRICE ACTION: In early trading, WellCare climbed $1.57, or 2.4%, to $66.90.
News For WCG;AET;CI From The Last 14 Days
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January 27, 2015
18:05 EDTAETAetna in three-year reinsurance arrangement with Vitality Re VI Limited
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January 26, 2015
12:39 EDTAET, CI, WCGHHS Secretary orders Medicare to change payment method, WSJ says
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09:16 EDTCICigna to acquire QualAlliance Networks, terms not disclosed
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January 20, 2015
14:06 EDTCICitizens, Keysight identified as long positions by Einhorn
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13:24 EDTCIGreenlight has new long positions in Citizens, Time Warner, Bloomberg says
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January 18, 2015
17:40 EDTAETAetna customers can switch coverage after mistake, Bloomberg says
Aetna is being investigated by the U.S. for misleading elderly and disabled people about which pharmacies would fill prescriptions in Medicare drug plans the health insurer sold them, says Bloomberg. According to the Bloomberg report, customers will be able to quit their coverage and choose a new plan this year as a result. Raymond Thorn, a spokesman for the Centers for Medicare and Medicaid Services said Aetna may be fined or prohibited from enrolling new Medicare customers if the agency determines it intentionally misled Medicare patients, added Bloomberg. Reference Link

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