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Centene rises after affirming full-year guidance

Centene soared in early trading after affirming its full-year guidance ahead of the Deutsche Bank 2025 Healthcare Summit on Thursday.

The company reiterated its expectation for adjusted diluted earnings per share to be approximately $1.75. At the conference, Centene executives also said they expect a higher percentage of its Medicare enrollees to be on more lucrative, top-rated plans next year, according to Bloomberg.

Earlier this week, UnitedHealth also reiterated its guidance and said it expects to have more top-rated plans in the coming year. The government rates insurance companies offering Medicare Advantage plans, and higher-rated plans are eligible for bonuses that can significantly increase a plan’s revenue.

Insurance companies that sell government-sponsored plans took a dive earlier this year amid unexpected rising costs. The recent announcements from both Centene and UnitedHealth may be a sign that the worst is behind them.

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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.

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