UnitedHealth, Cigna and Aetna Rise

Mayank Mehta
07 Jul, 2009
New York City

Discover Financial Services led the decliners in the S&P 500 index with a loss of 10.4%. International Speedway Corp swings to second quarter loss on charges. Vimicro International Corp slips to loss in first quarter.

[R]11:00AM New York – Discover Financial Services led the decliners in the S&P 500 index with a loss of 10.4%. International Speedway Corp swings to second quarter loss on charges. Vimicro International Corp slips to loss in first quarter.[/R]

Of the stocks in S&P 500 index, 101 increased, 395 declined and 4 were unchanged.

Discover Financial Services led the decliners in the S&P 500 index with a loss of 10.4% followed by losses in American International Group, Inc of 8.5%, in Intuitive Surgical, Inc of 4.5%, in Dynegy Inc of 4.0% and in Weyerhaeuser Company of 3.9%.

Cigna Corporation led gainers in the S&P 500 index with a rise of 6.5% followed by gains in Aetna Inc 6.0%, in Humana Inc of 4.8% and UnitedHealth Group Incorporated of 4.5%.

Healthcare insurance companies and banks were among the leading gainers in the morning after the Wall Street Journal reported that President Obama is willing delay the government owned and run insurance program.

Other Movers

Discover Financial Services ((DFS)) slumped 10.4% or $1.02 to $9.50 after the credit card company said it has commenced an underwritten public offering of $500 million of its common stock.

Hansen Medical, Inc ((HNSN)) declined 33.6% or $1.63 to $3.10 after the medical company said it expects second quarter revenues to be in the range of $3.1 million to $3.3 million.

Hess Corporation ((HES)) climbed 1.0% or 34 cents to $48.96 after the New York based oil producer and refiner was upgraded to “overweight” from “equal weight” at Barclays Plc.

Intel Corporation ((INTC)) gained 1.5% or 24 cents to $16.78 after the world’s largest chipmaker was upgraded to “buy” from “neutral” at Bank of America.

International Speedway Corporation ((ISCA)) rose 10.5% or $2.67 to $27.96 after the promoter of motorsports activities reported second quarter sales fell 12.9% to $152.4 million from $174.9 million a year ago. Net loss in the quarter was $31.7 million or 65 cents per diluted share compared to net income of $26.0 million or 52 cents per share a year ago.

Kohl’s Corporation ((KSS)) rose 1.0% or 32 cents to $43.00 after the department store company was upgraded to “buy” from “neutral” at Goldman Sachs and stock price increased to $50 from $44.

McMoRan Exploration Co ((MMR)) rose 3.0% or 16 cents to $5.20 after deep driller of oil indicated positive results at a well in Louisiana.

Moody’s Corporation ((MCO)) advanced 1.0% or 21 cents to $26.65 after the credit rating company was upgraded to “overweight” from “neutral” at Piper Jaffray & Co.

Nucor Corporation ((NUE)) the steelmaker climbed 0.6% or 27 cents to $41.06.

Tellabs, Inc ((TLAB)), the digital network equipment maker retreated 4.3% or 24 cents to $5.28.

Vimicro International Corporation ((VIMC)) added 3.0% or 6 cents to $2.25 after the multimedia semiconductor and solution provider said first quarter revenues fell 38.3% to $10.0 million from $16.2 million a year ago. Net loss in the quarter was $6.6 million or 19 cents per ADS compared to net loss of $3.2 million or 9 cents per ADS a year ago.