markets

Matt Phillips7/1/25

Government-related insurance provider Centene plunges after it says new data shows its guidance was all wrong

Centene, a health insurer that specializes in offering Medicare- and Medicaid-related coverage, plunged 23% in the aftermarket session Tuesday after it withdrew its 2025 guidance.

The $27 billion market cap company said it had gotten actuarial data that showed slower growth and more illness in 22 of the 29 states where it offers plans for health insurance marketplaces established by the Affordable Care Act.

“Aggregate market morbidity in those states is significantly higher than, and materially inconsistent with, the Company’s assumptions,” it said in a statement.

Oscar Health, another company that specializes in selling health insurance on the ACA marketplaces, also dropped 13% in the after-hours session.

CENTENE CORPORATION WITHDRAWS 2025 GUIDANCE

CENTENE CORPORATION WITHDRAWS 2025 GUIDANCE

“Aggregate market morbidity in those states is significantly higher than, and materially inconsistent with, the Company’s assumptions,” it said in a statement.

Oscar Health, another company that specializes in selling health insurance on the ACA marketplaces, also dropped 13% in the after-hours session.

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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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