Health insurers that easily outpaced the broader market in trading last year nosedived this week after UnitedHealth released shaky first-quarter earnings. Earnings at UnitedHealth slumped 8 percent in the most recent quarter as it juggled funding cuts to Medicare Advantage plans and new costs from the health care overhaul.» Read More
Operating earnings at Warren Buffett's Berkshire Hathaway fell slightly in the third quarter, with a big drop in profits for its insurance-underwriting operations.But the company posted a big increase in net earnings due to a $2 billion dollar one-time gain from sales of investments (PetroChina!)
Yet another chapter in the unfolding saga of Genentech's Avastin being used instead of Lucentis to treat age-related macular degeneration (AMD). The other day I blogged about the new "Open Letter" on the company's homepage announcing that it's delaying the implementation of its attempted crackdown on the cheaper, similar cancer drug being used...
Prudential Financial, one of the largest U.S. life insurers, said on Wednesday that third-quarter net income fell 25 percent, hurt by investment losses, but operating earnings beat analysts' expectations.
MetLife, the largest U.S. life insurer, said on Wednesday that net earnings per share were barely changed for the third quarter, as it suffered investment losses, but operating net beatanalysts' estimates.
Today's the day Eli Lilly was expected to get a Food and Drug Administration decision on the first-ever one-a-day impotence drug. Right now, the company sells Cialis for use as needed. But men could pop this one every day--like an aspirin or multi-vitamin--so the drug would always be "on boa
In a remarkably candid "Open Letter" on the homepage of its web site Genentech is taking a step back from implementing its new restrictive policy over the use of the cancer drug Avastin in lieu of Lucentis for age-related macular degeneration (AMD), the leading cause of adult blindness. I had recently blogged about the company's action and angry reader response to it.
CNBC's Becky Quick traveled exclusively with Warren Buffett on a whirlwind tour of China and South Korea. All this morning on Squawk Box, she is reporting in-depth on the trip and what it tells us about Buffett's investment philosophy. In this excerpt from an interview with Buffett while he and Becky were flying to China, he talks about the prospects for his investment in that country and why the Chinese people should be petitioning to get one particular Berkshire Hathaway product.
Humana posted a sharply higher quarterly profit on Monday, above Wall Street's target, on continued strength in its Medicare health plans for the elderly and its plans for employers.
British insurer Resolution said on Monday it was dropping its recommendation of a 4.9 billion pound ($10.1 billion) bid from Standard Life, but taking a neutral stance on a rival bid from Pearl.
British insurer Resolution recommended shareholders accept a $10 billion offer from rival Standard Life on Friday and backed away from its proposed takeover of Friends Provident.
Insured losses from California wildfires could exceed $1.6 billion if the fires continued tospread, a risk modeling firm said Thursday.
Rumors that American International Group will take a large writedown were disputed Thursday in a report from CNBC's David Faber.
Aetna on Thursday posted a better-than-expected third-quarter profit as membership increased, and the health insurer raised its full-year forecast.
British insurer Aviva said Thursday that sales rose 24 percent in the first nine months of the year as the company won new business and benefited from a U.S. acquisition.
Firefighters battling 15 fires across Southern California got a break from slowing winds Wednesday, but major blazes burned unchecked for a fourth day.
Health insurer WellPoint said on Wednesday that third-quarter profit rose 7 percent, helped by higher membership and improved control of operating costs.
Wildfires continued to burn out of control across Southern California for a third day on Tuesday as 500,000 people fled the San Diego area, and firefighters made a desperate stand to save a mountain town ringed by flames.
The corporate headquarters of Sony Electronics has been closed Tuesday for the second day due to the wildfires ravaging Southern California.
Britain's Prudential reported a 15 percent rise in nine-month insurance sales on Tuesday, at the high end of forecasts, as strong growth in Asia and the United States offset a shrinking business at home.
Shares in British insurer Resolution climbed more than 3 percent in early trade on Monday on hopes of a 5 billion pound ($10.2 billion) bid from rival Standard Life, backed by Swiss Re.
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