Shares of WellCare Health Plans and Centene surged Tuesday on speculation that one of the two Medicaid insurance providers could be acquired.» Read More
WellCare Health Plans, a managed care provider undergoing a federal probe, on Friday replaced Chief Executive Todd S. Farha, announced the resignations of other top executives and said its latest annual report and other filings will likely be late.
Shares of WellCare Health Plans jumped more than 40 percent Monday after a news report implied less harm could come from a probe hovering over the health insurer than had previously been expected.
Stocks could be setting up for a bit of a bounce back but first investors need to decide just how radioactive the financial sector has become. Heading into the weekend, market rumors of lurking credit issues plagued bank and brokerage stocks.
Stocks closed lower amid fresh signs of weakness in the economy and uncertainty about whether the Federal Reserve will cut interest rates.
As investors wait with bated breath about whether the fed will cut rates, soaring oil prices were the week’s topic du jour.
US stocks followed technology shares to push higher Friday after a week of uncertainty, shaking off record-high oil, a federal probe into the nation's largest mortgage lender and another batch of disappointing earnings reports.
The news of the day was oil reaching a new record closing the U.S. session at more than $90 a barrel. And then, just a couple of hours later in Asia's Friday morning session, oil pushed past $91 a barrel. Some analysts are wondering how long before we see triple digits on oil and what is driving the prices sky high.
Shares of WellCare Health Plans plunged as much as 61 percent Thursday, a day after federal and state government agents searched its headquarters in Tampa, Florida.
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