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Stock Market & Financial Investment News

News Breaks
February 20, 2014
06:42 EDTWLP, HNT, MOHMore than 700,000 enrolled in California Obamacare plans
Covered California and the California Department of Health Care Services announced yesterday that as of Jan. 31, more than 1.6M Californians had signed up for either Covered California health insurance plans or for low-cost or no-cost Medi-Cal. Nearly half of those covered — 728,410 Californians — selected a Covered California health insurance plan, the agencies added. This strong enrollment trend is extending into February, where in the first two weeks more than 100,000 individuals enrolled in Covered California, increasing the cumulative total enrollment in Covered California to 828,638, they stated. Companies providing plans under the auspices of Covered California, which operates California's Obamacare exchange, include Wellpoint (WLP), HealthNet (HNT), and Molina Healthcare (MOH).
News For WLP;HNT;MOH From The Last 14 Days
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August 20, 2014
08:31 EDTHNTCognizant deal with Health Net has encouraging read through, says Cowen
Cowen noted Cognizant (CTSH) shareholders were concerned over its deal with Health Net (HNT) but noted management feels the deal is a true partnership. The firm feels management's positive comments are encouraging and address the execution and profitability concerns of shareholders. Shares of Cognizant are Outperform rated with a $50 price target.
August 19, 2014
08:32 EDTHNTHealth Net says CFO Joseph Capezza to retire
Health Net announced that James Woys has been named executive vice president, chief financial and operating officer, and interim treasurer, effective September 2. This is a new position. Woys has been executive vice president and COO since November 2007. Previously Woys served as acting CFO from November 2006 through October 2007. The company announced that Joseph C. Capezza, currently executive vice president, CFO and treasurer, will retire as CFO. He will have a consulting contract with the company through year end to assist with transition issues. Capezza has been Health Net’s CFO since November 2007.
August 18, 2014
09:00 EDTHNTHealth Net fundamentals remain favorable, says Susquehanna
Susquehanna said Health Net (HNT) fundamentals remain favorable following meetings with management. The firm cited the company's conservative outlook and the benefit of its back office contract with Cognizant (CTSH) which positions the company well for sustainable earnings growth through 2016. Shares of Health Net remain Positive rated with a $55 price target on the shares.
August 13, 2014
18:24 EDTHNTDepartment of Veterans Affairs expands contract with Health Net Federal Services
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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 EDTHNT, MOH, WLPManged Care recent pullback a buying opportunity, says Leerink
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August 8, 2014
17:25 EDTMOHMolina Healthcare subsidiary acquires First Coast Florida Medicaid assets
Molina Healthcare announced that its wholly owned subsidiary Molina Healthcare of Florida has entered into a definitive agreement with First Coast Advantage to acquire certain assets related to First Coast Advantage’s Medicaid business. As a part of the transaction, Molina Healthcare of Florida will assume First Coast Advantage’s Medicaid contract and certain provider agreements for Region 4 of the Statewide Medicaid Managed Care Managed Medical Assistance Program in the State of Florida. The closing of the transaction is subject to the satisfaction of customary closing conditions, including obtaining approval for the transaction from the Florida Agency for Health Care Administration.
09:12 EDTHNTHealth Net price target raised to $68 from $60 at Sterne Agee
Sterne Agee increased its price target on Health Net as the firm expects the company to perform well regardless of challenges in its sector. The firm keeps a Buy rating on the shares.
August 7, 2014
13:23 EDTWLP, MOH, HNTLeerink 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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