Large Cap Stocks

Aetna Sells Standalone Medicare Part D Prescription Business to WellCare Health as Part of CVS Acquisition

Aetna Sells Standalone Medicare Part D Prescription Business to WellCare Health as Part of CVS Acquisition

Aetna (AET) will sell its entire standalone Medicare Part D prescription drug plan business to WellCare Health Plans, subject to closing of CVS’s (CVS) proposed acquisition of Aetna, according to a regulatory filing. CVS said in the 8K filing with the Securities & Exchange Commission that it believes the divestiture is a “significant step” in completing the Department of Justice’s […]

WellCare Health Rises Pre-Bell After Disclosing Plans to Purchase Aetna’s Medicare Part D Prescription Business

WellCare Health Plans (WCG) said in a Form 8-K filing that it has signed an asset purchase agreement with Aetna, Inc. (AET) to acquire the latter’s entire standalone Medicare Part D prescription drug plan business, effective Dec. 31. Shares of WellCare climbed almost 2% in the pre-market. The unit had about 2.2 million members as of June 30, the filing […]

Salesforce Doesn’t Offer New Guidance at Investor Day, Benioff Speaks From the Heart

Salesforce Doesn’t Offer New Guidance at Investor Day, Benioff Speaks From the Heart

Salesforce (CRM) didn’t provide new guidance during its investor day, where the theme was “durable growth powered by competitive advantage,” but said it plans to provide guidance for calendar 2019 and fiscal 2020 in recent weeks, Wedbush analysts said in a note to clients Thursday morning. The new guidance likely will be during the company’s November third-quarter call and is […]

Indivior Shares Lower After Cutting Opioid Drug Sales Forecast

Indivior Shares Lower After Cutting Opioid Drug Sales Forecast

Shares of Indivior (INDV.L) traded sharply lower early Thursday as the British drugmaker cut the sales outlook for Sublocade, a treatment for opioid use disorder, saying it “substantially underestimated” the lag time associated with the approval of medical benefits coverage of individual patients. Net sales from Sublocade in the fiscal third quarter are likely to be $3 to $4 million, […]

Bond Prices Edge Higher After FOMC Ahead of Data-Run — 10-Year 3.048%

US Treasury prices backed off the overnight highs early Thursday, edging off the week-ago low yield levels on the back of Wednesday’s Federal Open Market Committee (FOMC) rally. The two-year note was near 2.82% versus 2.027% Wednesday, with the 10-year near 3.048% from 3.025%. Trade may be weighed on by the $31 billion seven-year note auction results. Core European yields […]

Newmark Group and BGC Partners to Monetize Nasdaq Share Positions

Newmark Group (NMRK), a commercial property services business, and its parent BGC Partners (BGCP) a brokerage and fintech company, Thursday reported that Newmark has entered into transactions related to the monetization of the shares of Nasdaq (NDAQ) it expects to receive in 2021 and 2022. Newmark said it expects cash proceeds of $113.2 million in Q3, due to its transaction […]