INDIANAPOLIS (AP) — WellPoint Inc., the nation's second-largest health insurer, surprised Wall Street on Wednesday by cutting its 2012 forecast and reporting second-quarter earnings that both fell and missed expectations.
Investors then sent the Indianapolis company's stock price on its biggest one-day plunge in more than three years.
The insurer said it lowered earnings expectations after enduring a rough month of May and seeing enrollment slip. That fall was largely due to job cuts, which reduce the number of people covered by employer-sponsored health insurance.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
