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Fly News Breaks for September 9, 2019
CNC, WCG
Sep 9, 2019 | 06:15 EDT
Stephens analyst Scott Fidel downgraded WellCare Health Plans (WCG) to Equal Weight from Overweight and lowered his price target for the shares to $317 from $330. The analyst sees limited incremental opportunity to capture value from the pending takeover by Centene (CNC). He still expects the deal to close in the first half of 2020.
News For WCG;CNC From the Last 2 Days
CNC
Feb 27, 2020 | 12:25 EST
Bullish option flow detected in Centene with 8,157 calls trading, 4x expected, and implied vol increasing almost 2 points to 52.35%. Apr-20 55 calls and Jun-20 55 calls are the most active options, with total volume in those strikes near 6,400 contracts. The Put/Call Ratio is 0.46. Earnings are expected on April 21st.