markets

J. Edward Moreno7/25/25

Centene bounces back after surprise quarterly loss sent it plunging in pre-market trading

Centene, the largest seller of Affordable Care Act plans, dropped 12% in premarket trading before recovering those losses and then some after posting an unexpected loss in its second-quarter earnings.

The company reported an adjusted loss per share of $0.16, compared to the earnings per share of $0.13 analysts polled by FactSet were expecting. The insurer attributed the miss to lower enrollment in Medicaid and Medicare, two government healthcare programs for the poor and elderly, as well as higher-than-expected costs from medical expenses.

“We are disappointed by our second quarter results, but we have a clear understanding of the trends that have impacted our performance, and are working with urgency and focus to restore our earnings trajectory,” Centene CEO Sarah M. London said in a statement.

Centene withdrew its 2025 guidance earlier this month on the back of new data that showed its ACA enrollees using their benefits significantly more than expected, which threatens to eat into profits. The company also faces headwinds from major cuts to Medicaid recently passed into law.

Centene’s stock rose about 7% after initially dipping on the news in premarket trading. Still, it’s down more than 50% since the start of the year, as of yesterday’s close.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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