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CNC

Centene

$52.11

-5.61 (-9.72%)

12:20
06/03/19
06/03
12:20
06/03/19
12:20

Flurry of activity in Centene far upside calls as shares shed 9.4%

Flurry of activity in Centene far upside calls as shares shed 9.4%. The stock off $5.43 to $52.32 after Humana (HUM) said it wasn't interested in acquiring Centene. July 70 calls trade across the exchanges in small lots at a dime per contract and the biggest trade is a 2.5K lot at 8c on CBOE. The flow appears to include a mix of buying and selling, some opening and others closing, with volume approaching 11K against 8.5K open interest. The contract is now struck 34% above spot, expiring in 46 days.

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CNC Centene
$52.11

-5.61 (-9.72%)

05/10/19
05/10/19
UPGRADE

Citi upgrades Anthem, Centene, UnitedHealth to Buy after 'extreme' selloff
Citi analyst Ralph Giacobbe upgraded Anthem (ANTM), Centene (CNC), and UnitedHealth (UNH) to Buy from Neutral while maintaining Buy ratings on Cigna (CI) and Humana (HUM). The magnitude of the selloff in managed care stocks on fears of Medicare for All has been "extreme and overdone," Giacobbe tells investors in a research note. The analyst sees favorable risk/rewards in the sector and does not subscribe to the view of a continued "overhang" and "uncertainty." Instead, Giacobbe expects a share recovery as "more realistic views prevail and investors become more numb to the low-likelihood headlines and political rhetoric of single payor."
05/10/19
05/10/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. 3D Systems (DDD) upgraded to Neutral from Underweight at JPMorgan with analyst Paul Coster noting the stock is down 25% this week after posting "lackluster" Q1 results. 2. Jones Lang LaSalle (JLL) upgraded to Buy from Neutral at Goldman Sachs with analyst Andrew Rosivach saying the company's earnings declined in Q1 due to tough comps, but this should reverse quickly. 3. Ford (F) upgraded to Buy from Neutral at BofA/Merrill with analyst John Murphy stating the company's earnings are starting to hit a "sustainable inflection" due to favorable product cadence in the North America market and its restructuring efforts. 4. Whirlpool (WHR) upgraded to Buy from Neutral at Longbow with analyst David MacGregor seeing earnings upside from better than expected North American margin performance, a "gradually improving" environment in the EMEA and a favorable cyclical turn in Latin America. 5. Anthem (ANTM), Centene (CNC), and UnitedHealth (UNH) upgraded to Buy from Neutral at Citi with analyst Ralph Giacobbe the magnitude of the selloff in managed care stocks on fears of Medicare for All has been "extreme and overdone". This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/16/19
COWN
05/16/19
NO CHANGE
COWN
Move lower in managed care stocks appears overdone, says Cowen
Cowen analyst Charles Rhyee lowered his target multiple for the managed care group slightly from recent historical levels, but said he believes the recent weakness in the space on concerns around "Medicare for All," the rebate rule and the Texas ACA decision appears overdone. The discount for managed care stocks relative to the broader market has risen to a multi-year high, but he argues that underlying market fundamentals are stronger than in the pre-ACA era and Rhyee contends that there is "still plenty of growth left" in the managed care space, particularly in government-sponsored business. Stocks in the group include Anthem (ANTM), Cigna (CI), Centene (CNC), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG).
06/03/19
BMOC
06/03/19
DOWNGRADE
Target $304
BMOC
Market Perform
WellCare downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst Matt Borsch downgraded WellCare Health Plans (WCG) to Market Perform from Outperform with an unchanged price target of $304. The analyst sees Centene (CNC) as the better stock to own ahead of the pending merger. There is also the possibility of deal failure, which would leave a standalone investment in WellCare that would probably include less takeout premium than prevailed pre-merger, Borsch tells investors in a research note.

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TECK

Teck Resources

$16.48

0.11 (0.67%)

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OSK

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$77.22

0.46 (0.60%)

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OVLY

Oak Valley Bancorp

$16.40

-0.16 (-0.97%)

17:35
10/18/19
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Earnings
Oak Valley Bancorp reports Q3 EPS 40c vs. 37c last year »

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FTNW

FTE Networks

$0.79

-0.0185 (-2.29%)

17:21
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TNXP

Tonix Pharmaceuticals

$0.45

0.0048 (1.07%)

17:12
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RLMD

Relmada Therapeutics

$20.18

1.07 (5.60%)

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NWSA

News Corp.

$13.48

-0.19 (-1.39%)

, NWS

News Corp

$13.79

-0.11 (-0.79%)

16:51
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16:51
Periodicals
Facebook reaches pact with News Corp., others for news section, WSJ says »

News Corp. (NWSA) has…

NWSA

News Corp.

$13.48

-0.19 (-1.39%)

NWS

News Corp

$13.79

-0.11 (-0.79%)

FB

Facebook

$185.96

-4.435 (-2.33%)

NYT

New York Times

$29.76

0.21 (0.71%)

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WAIR

Wesco Aircraft

$11.01

0.01 (0.09%)

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  • 24

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FOMX

Foamix

$3.15

-0.09 (-2.78%)

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POAI

Predictive Oncology

$0.44

0.0101 (2.35%)

16:40
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BK

BNY Mellon

$45.34

0.975 (2.20%)

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FOMX

Foamix

$3.15

-0.09 (-2.78%)

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BAC

Bank of America

$30.37

0.1 (0.33%)

16:35
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LGC

Legacy Acquisition Corp

$10.24

0.02 (0.20%)

16:34
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Conference/Events
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MFGP

Micro Focus

$15.13

0.56 (3.84%)

, OTEX

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$39.30

-1.545 (-3.78%)

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Options
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BA

Boeing

$344.01

-25.12 (-6.81%)

, ORCL

Oracle

$54.55

-0.52 (-0.94%)

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ORCL

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KO

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AXP

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JNJ

Johnson & Johnson

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M

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L Brands

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LEVI

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DERM

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ETFC

E-Trade

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GIL

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TEAM

Atlassian

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EYEG

EyeGate

$3.40

(0.00%)

16:20
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Syndicate
Breaking Syndicate news story on EyeGate »

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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
10/18/19
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Options
Closing CBOE SPX and VIX Index summary for October 18th »

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