NEW YORK (Reuters) – Investors in U.S. hospital companies are counting on the Obama administration to pull off its national healthcare reform for 2014 to drive earnings growth, but a series of delays to the program has some questioning how strong the launch will be at its start.
The stakes are particularly high for hospital operators, whose financial performance has been weighed down by poor and uninsured patients being unable to pay their bills. The healthcare law aims to expand health coverage to millions more Americans, who will be able to sign up beginning on October 1.
NEW YORK, Sept 9 (Reuters) – Investors in U.S. hospital
companies are counting on the Obama administration to pull off
its national healthcare reform for 2014 to drive earnings
growth, but a series of delays to the program has some
questioning how strong the launch will be at its start.
The stakes are particularly high for hospital operators,
whose financial performance has been weighed down by poor and
uninsured patients being unable to pay their bills. The
healthcare law aims to expand health coverage to millions more
Americans, who will be able to sign up beginning on Oct. 1.
NEW YORK (Reuters) – As the clock ticks down to the launch of President Barack Obama’s healthcare reform, hundreds of businesses, unions and advocacy groups are still pushing to win concessions on the far-reaching law.
Restaurants want to increase the number of hours that define a full-time worker. Unionized electrical workers are seeking to change the treatment of health plans offered by multiple employers. Medical device companies hope to end a tax against them even though they are already paying that tax.
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.