Aug 22 (Reuters) – California said on Thursday it would
consider a soft launch of its Obamacare online health insurance
exchange if tests of the new system next month show it isn’t
ready to accommodate wide public access.
If the system is not ready, the exchange would at first use
an “aided enrollment” in which counselors help California
residents sign up over the phone or in person.
(Reuters) – Emerson Electric Co (EMR.N: Quote, Profile, Research, Stock Buzz) reported a 75 percent drop in quarterly earnings on Tuesday, hurt by an impairment charge for its embedded computing and power business, and said it was selling a majority stake in the unit for about $300 million.
Profit and sales missed Wall Street targets. The diversified U.S. manufacturer of industrial controls, power supplies and home-storage equipment said earnings were trending toward the low end of its forecast, which it had cut in May.
Aug 2 (Reuters) – Diversified manufacturer Eaton Corp
reported a lower-than-expected quarterly profit on
Friday and cut the top end of its full-year earnings outlook,
citing slower market growth.
Shares of the maker of electrical and hydraulic systems fell
more than 4 percent. Eaton said quarterly sales would have
declined 2 percent without the help of acquisitions.
(Reuters) – A disconcerting trend lurks beneath the recent round of solid profit forecasts announced by companies ranging from United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) to Wendy’s Co WEN.N: More than three years into the recovery, CEOs are still relying on cost cuts to prop up earnings.
While the cuts are not as severe as those that followed the 2008 financial crisis, companies remain cautious, mindful that revenue growth is still tepid. As a result, many appear to be more comfortable wringing efficiencies out of their businesses than gearing up for accelerated production.
July 26 (Reuters) – Mylan Inc posted second-quarter
profit well above Wall Street estimates, while rival Watson
Pharmaceuticals Inc raised its full-year forecast after
reporting strong quarterly results, and shares of the two
generic drugmakers rose.
Mylan posted strong sales increases for its North American
generic drugs and its EpiPen product for severe allergic
reactions, while some analysts said Mylan’s struggling European
business showed signs of improving. Shares of the drugmaker,
which also backed its 2012 and 2013 profit forecasts, were up
4.6 percent in late morning trading.
July 25 (Reuters) – State expansions of the Medicaid health
insurance program for poor Americans reduced adult mortality
rates by more than 6 percent compared to states that did not
broaden eligibility for their plans, according to a study
released on Wednesday.
The findings published in the New England Journal of
Medicine could fuel a political furor over new plans for a
nationwide expansion of Medicaid that erupted after the U.S.
Supreme Court’s ruling to uphold President Barack Obama’s
healthcare law in late June.
July 25 (Reuters) – Health insurer WellPoint Inc
posted a lower-than-expected quarterly profit on Wednesday and
cut its full-year earnings forecast, citing lower enrollment and
higher medical cost trends, sending its shares down 8 percent in
The second-largest health insurer by market value said its
medical cost trends would likely come in at the high end of its
forecast, while intense competition among health plans was
pressuring its enrollment.
(Reuters) – Walgreen Co will soon be able to fill prescriptions for Express Scripts Holding Co patients after the two corporate giants settled their long-running dispute, removing a concern that has weighed on the drugstore chain’s shares for a year.
Walgreen, the largest U.S. drugstore chain, will be part of the broadest network of drugstores available to clients of pharmacy benefit manager Express Scripts, as of September 15, the companies said on Thursday.
July 19 (Reuters) – UnitedHealth Group Inc reported
an increase of about 6 percent in quarterly profit on Thursday,
beating analysts’ estimates, as most of its insurance plans grew
and medical claim costs remained stable.
The biggest U.S. health insurer by market value also
slightly raised its forecast for full-year earnings, and was the
first insurer to report results since the Supreme Court upheld
President Barack Obama’s healthcare law late last month.
July 16 (Reuters) – Private equity firm TPG said on Monday
it would acquire U.S.-based Par Pharmaceutical Cos Inc
for $1.9 billion, the latest acquisition in the generic drug
The $50-a-share deal represents a nearly 37 percent premium
over Par’s closing price on Friday.