Gapping down
In reaction to disappointing earnings/guidance:
- WCG mixed FY19 guidance; reaffirms FY18
Health insurers/hospitals showing weakness after District Court rules ACA unconstitutional:
- HCA -6.2%, THC -5.8% Baird downgrades to Neutral CYH -3.3% CNC -2.8% MOH -2.1% UHS -1.5% CVS -1.2% CI -1.2% HUM -0.9% District Court rules ACA unconstitutional ANTM -0.9% UNH -0.8% WCG -0.7% guides FY19 mixed, reaffirms FY18.
Other news:
- PCG -4.4% California regulators open case over safety violations
- TDOC -4% COO/CFO resign; reaffirms guidance
- GS -1.8% Criminal charges from Malaysia over 1MDB scandal
- SHPG -1.5% FDA approval of Motegrity
- JNJ -0.8% continued weakness (-10% on Friday) following baby powder accusations
Analyst comments:
- BBY -7.2% (downgraded to Underperform at BAML)
