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Jun.18
10:38 PM ET
Wednesday, 18 Jun 2008
Healthcare in Need of Life Support
Posted By:Robert Hum
Topics:Stock Market
Companies:Cigna Corp | Wellpoint Inc | Humana Inc | Coventry Health Care Inc | Unitedhealth Group Inc | Aetna Inc
After the close today, Coventry Health Care [CVH
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()
] slashed its Q2 and full-year earnings guidance due to increasing cost pressures. Coventry’s stock was halted after hours before starting again. Meanwhile, other healthcare stocks are trading sharply lower in after hours trading following the news.
In after hour trading today...
Aetna - 8%
Humana -7%
Wellpoint - 5%
United Health -5%
Cigna -4%
 |
AP |
] is one of the worst-performing sectors on the year (-32% YTD). As a comparison, airlines [.XAL
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()
] are down 49% YTD and banks [.BKX
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()
] are down 29%.Here is how some of the major healthcare stocks have performed this year (not taking into account the declines after the bell today):
United Health -48%
Humana -41%
Wellpoint -41%
Coventry Health -32%
Aetna -26%
Cigna -26%
Should be an interesting day tomorrow for these stocks…
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