WellPoint Health Networks (WLP) NewsBite - WLP Falls on Aetna (AET) Guidance
Posted: Thursday, March 18, 2010 9:54 AM EDT
By: Market Intelligence Center Staff
WellPoint Health Networks (NYSE: WLP) opened at $61.69. So far today, the stock has hit a low of $60.82 and a high of $61.69. WLP is now trading at $61.17, down $0.77 (-1.24%). Over the last 52 weeks the stock has ranged from a low of $35.00 to a high of $70.00. WLP shares are falling with other health insurers this morning after competitor Aetna (AET) reaffirmed its 2010 EPS forecast of $2.55 to $2.65, below analysts' EPS forecasts of $2.69. This could be a bad sign for WLP. Technical indicators for the stock are bullish and S&P gives WLP a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on WLP the stock seems like it could be a candidate for a June out-of-the-money bear-call credit spread above the 75 range. [ABR-Seven Summits Strategic Investments NewsBite]
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