Shares of some top managed care companies were mixed at the close of trading:

Shares of some top managed care companies are down at noon:

Shares of some top managed care companies are down at 10 a.m.:

Shares of some of the nation's largest health insurers fell Tuesday after California lawmakers passed legislation that analysts said would hurt company profits.

America's Health Insurance Plans, the trade group that represents the health insurance industry, spent nearly $1.9 million lobbying the federal government in the second quarter.

Aetna shares dropped 5 percent and Health Net tumbled 10 percent after a Goldman Sachs analyst slapped "sell" ratings on the two health insurers' stocks Thursday.

The Dow Jones Industrial Average shed 1.5 percent, ending the day firmly in bear-market territory. GM took a hit as one analyst raised the prospect of bankruptcy. Lehman Brothers rose.

UnitedHealth Group on Wednesday slashed its full-year earnings outlook because of tough competition in the health benefits business and said it would pay more than $900 million to settle lawsuits related to past stock options practices.

Peter Klein of Fifth Third Asset Management sees investors running away from a lot of stocks, when they should be running toward them. Click to see his picks.

A profit warning from WellPoint suggests that U.S. health insurers may not be a safe bet for investors to put their money in a troubled economy.

Insurer UnitedHealth Group won U.S. antitrust approval on Monday to buy Sierra Health Services, despite criticism of the deal.