New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 1, 2014
16:37 EDTWCGWellCare announces Florida MMA rate decrease
In a regulatory filing, WellCare disclosed that on June 25, WellCare received from the State of Florida’s Agency for Health Care Administration, AHCA, executed Amendment No. 1 to Contract No. FP020, the Florida MMA Contract, between AHCA and WellCare of Florida, a wholly-owned subsidiary of the company which governs the services WellCare of Florida provides under the Managed Medical Assistance component, the MMA program, of Florida’s Statewide Medicaid Managed Care program. Amendment No. 1, which is effective as of June 1, amends and restates Attachments I and II of the Florida MMA Contract to, among other things, reflect an estimated overall 2.2% decrease in the rates payable to WellCare of Florida under the Florida MMA Contract. The rates were amended to reflect changes in the MMA implementation schedule and certain other factors. The company noted, "We estimate that the rate changes will not have a significant impact on our gross margin. The amended rates were reflected in the company’s financial outlook for the year ended December 31 as updated on May 6."
News For WCG From The Last 14 Days
Check below for free stories on WCG the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 25, 2014
10:52 EDTWCGWellCare issues largely company-specific, says UBS
UBS notes that aside from WellCare (WCG), which attributed its lowered guidance to the start-up of its Florida MMA program and other issues, that Centene (CNC), WellPoint (WLP), UnitedHealth (UNH) and Humana (HUM) are the leaders in Medicaid in the state. However, the firm believes a majority of WellCare's issues appear company specific and UBS views any weakness in UnitedHealth, WellPoint, Aetna (AET), or Cigna (CI) as opportunity to buy those four stocks, on all of which it has Buy ratings.
10:02 EDTWCGOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
09:25 EDTWCGOn The Fly: Pre-market Movers
Subscribe for More Information
07:24 EDTWCGWellCare downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded WellCare to Market Perform citing less confidence in management and weaker than expected performance in the new Florida Medicaid business following the company's Q2 results. Wells lowered its price target range for shares to $54-$58 from $83-$89.
07:22 EDTWCGCentene downgraded to Market Perform from Outperform at Wells Fargo
Subscribe for More Information
07:00 EDTWCGWellCare downgraded to Market Perform from Outperform at Raymond James
Subscribe for More Information
06:40 EDTWCGWellCare downgraded to Market Perform from Outperform at Wells Fargo
Subscribe for More Information
July 24, 2014
18:15 EDTWCGWellCare down 20% after Q2 earnings and lowering FY14 guidance
Subscribe for More Information
18:13 EDTWCGWellCare lowers FY14 EPS guidance to $2.20-$2.50 from $4.40-$4.75
Subscribe for More Information
18:09 EDTWCGWellCare reports Q2 adjusted EPS (7c), may not compare to consensus 90c
Subscribe for More Information
06:50 EDTWCGConsumers received $9B in refunds from health insurers, The Hill says
Subscribe for More Information
July 22, 2014
13:46 EDTWCGCourt upholds Obamacare subsidies, NY Times says
Subscribe for More Information
10:43 EDTWCGAppeals 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 IRS’s regulation." Twenty-seven states decided against setting up marketplaces, and another nine states partially opted out, according to the Washington Post.

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