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Stock Market & Financial Investment News

News Breaks
November 28, 2012
14:00 EDTWLP, AGPAmerigroup sale of subsidiary addresses DOJ concerns over WellPoint acquisition
The Department of Justice announced that Amerigroup's (AGP) sale of its subsidiary, Amerigroup Virginia, addresses the department’s concerns with WellPoint's (WLP) proposed acquisition of Amerigroup. The department said that the merger, as originally proposed, would have substantially lessened competition in the provision of Medicaid managed care plans in Northern Virginia. Amerigroup has agreed to sell Amerigroup Virginia to the Inova Health System Foundation. The department closed its investigation of the sale of Amerigroup Virginia to the Inova Health System Foundation, allowing the parties to proceed to consummate their transaction. Without the divestiture, WellPoint’s proposed acquisition of Amerigroup would result in a merger to monopoly in Medicaid managed care in Arlington, Culpeper, Fairfax, Fauquier, Frederick, Loudon, Prince William, Rappahannock and Warren counties, plus the cities of Alexandria, Falls Church, Fairfax and Manassas Park. Reference Link
News For WLP;AGP From The Last 14 Days
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August 13, 2014
06:02 EDTWLPWellPoint changing corporate name to Anthem Inc.
WellPoint announced plans to change its corporate name to Anthem, Inc. The change is expected to take place by the end of 2014.
August 12, 2014
06:35 EDTWLPManged Care recent pullback a buying opportunity, says Leerink
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August 7, 2014
13:23 EDTWLPLeerink healthcare services analyst holds an analyst/industry conference call
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12:29 EDTWLPHealth insurers fall after two downgrades from Goldman
Shares of a number of health insurers are falling after Goldman Sachs downgraded its rating on one stock in the sector and removed another from its Conviction List. WHAT'S NEW: Goldman analyst Matthew Borsch downgraded his rating on Aetna (AET) to Neutral from Buy and removed UnitedHealth (UNH) from the firm's Conviction List, as he believes that other stocks in the healthcare sector are more attractive. Utilization of healthcare services by individuals who don't have the Affordable Care Act is likely to show signs of increasing by 2015, posing a "manageable" challenge to health insurers, Borsch wrote. However, the increase in the utilization of these services is likely to be "relatively gradual" compared with similar trends in the past, the analyst contended. Borsch based his forecast on healthcare spending trends during previous economic recoveries. He reduced his 2015 earnings estimate for Aetna to $7 from $7.10 and for United Health to $5.95 from $6. He reduced his 2015 EPS estimates for other companies in the sector, as his earnings outlook for WellPoint (WLP) declined to $9.20 from $9.35, while his estimate for Cigna (CI) for next year dropped to $7.90 from $8. The analyst kept Neutral ratings on both WellPoint and Cigna. Meanwhile, Borsch cut his price target on Aetna to $88 from $91 and on UnitedHealth to $91 from $96. PRICE ACTION: In early afternoon trading, Aetna fell 3% to $76, UnitedHealth slumped 2.5% to $79.50, WellPoint declined 2.5% to $108, and Cigna retreated 2.5% to $89.

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