BETHESDA, Md.-- Coventry Health Care Inc.' s third-quarter net income dropped 14 percent, as the health insurer's medical costs and other expenses outweighed revenue gains from an expansion of its Medicaid business.
Aetna said that next year it will shift even more of its commercial and Medicare business to these groups, known as accountable care organizations, which are offered incentives to improve the quality of care while lowering costs. Medicare is the government health plan for older Americans.
A couple large employers, Sears Holding Corp. and Darden Restaurants Inc., are switching to this approach, and benefits experts say many others are considering it. On Thursday, Credit Suisse analyst Ralph Giacobbe asked Aetna officials during a conference call to discuss third-quarter earnings what they thought of it.
NEW YORK-- A weak showing in home sales and a mixed batch of earnings reports kept the stock market flipping between minor gains and losses on Wall Street.
Mark Bertolini, chairman & CEO of Aetna, explains why he thinks the Simpson-Bowles commission approach is an "effective framework."
WASHINGTON-- CEOs from more than 80 major U.S. companies are pressing Congress to reduce the federal deficit by raising taxes and cutting spending. The CEOs head a diverse array of corporations, including Aetna Inc., Microsoft Corp., JPMorgan Chase& Co., General Electric Co. and Dow Chemical Co..
*Outlook for 2012 now $5.10 per share. Oct 25- Aetna Inc reported a higher-than-expected quarterly profit on Thursday, saying it had reached its 2012 membership goal ahead of schedule, held down costs with doctors and benefited from higher medical insurance premiums.
NEW YORK, Oct 25- U.S. stock index futures rose on Thursday, indicating the S&P 500 may rebound from its worst five-day slide in five months, on optimism China's economy may be recovering and ahead of a flurry of economic data and corporate earnings.
*Earnings of $1.55 per share beat analysts' estimate of $1.34. The third-largest U.S. health insurer also boosted its 2012 outlook on Thursday to the top end of its previous forecast range of $5.00 to $5.10 a share.
THIRD QUARTER: Health insurer Aetna Inc. said its third-quarter earnings rose 2 percent as lower-than-expected health care use and revenue gains helped the insurer trump Wall Street expectations. Aetna earned $499.2 million, or $1.47 per share.
The company also raised its 2012 outlook on Thursday to the top end of its previous forecast of $5.00 to $5.10 a share. The company said third-quarter earnings had risen to $499.2 million, or $1.47 per share, from $490.4 million, or $1.30 per share, a year earlier.
Oct 25- Aetna Inc., the third-largest U.S. health insurer, reported a higher quarterly profit on Thursday as it reached its 2012 goal of 18.2 million members ahead of schedule and kept costs down. It previously had forecast $5.00 to $5.10.
NEW YORK-- Stocks climbed Thursday on Wall Street, aiming for their first significant advance in more than a week, on the busiest day for quarterly corporate earnings reports. Eight of the 10 industry groups in the S&P 500 index rose. Online game maker Zynga jumped 26 cents to $2.39 after the company reported revenue that was stronger than analysts had anticipated.
Aetna Inc.' s third-quarter earnings rose 2 percent as lower-than-expected health care use and revenue gains helped the insurer trump Wall Street expectations.
UnitedHealth said its results were helped, in part, by a $390 million benefit it recorded because claims left over from earlier periods came in lower than expected, which freed up money held in reserve.
Caterpillar Inc. reports quarterly financial results. Hasbro Inc. reports quarterly financial results. Peabody Energy Corp. reports quarterly financial results.
NEW YORK-- Share of Questcor Pharmaceuticals Inc. climbed Tuesday after the hedge fund Deerfield Management Co. disclosed a stake in the beleaguered company. THE SPARK: Deerfield President James Flynn disclosed ownership of 3.5 million Questcor shares, or a 5.8 percent stake in the Anaheim, Calif., drugmaker.
UnitedHealth's third-quarter net income jumped 23 percent to trump expectations, as preparations for retiring baby boomers started to pay off for the nation's largest health insurer. UnitedHealth also raised its 2012 earnings forecast.
UnitedHealth Group's third-quarter net income jumped 23 percent, and the nation's largest health insurer raised its 2012 earnings forecast for the third time this year.
UnitedHealth Group Inc. has spoiled the surprise for investors by already stating that its third-quarter net income will top Wall Street expectations, but the nation's largest health insurer will release more details on Tuesday.