real-time news and commentary for investors
Tuesday, Oct 23
2012, 2:05 PM
Centene (CNC +0.6%) holds up today in spite of posting a mixed Q3 report that missed on the top...
Centene (CNC +0.6%) holds up today in spite of posting a mixed Q3 report that missed on the top line. Net earnings fell 87% Y/Y as higher medical costs masked better-than-expected revenue growth. Last week, the medicaid insurer said it planned to exit the Kentucky market because it couldn't resolve differences with the state over high-cost issues, but today investors appear to be more focused on the company's cost-cutting efforts going forward than the earnings-squeezing mess the high cost environment created in 3Q.