Healthcare Stock Index Has Topped Out

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City of Industry, CA --(www.USEquityNews.com)-- 01/26/2010 - Health Care Plans industry alert provided by U.S. Equity News. At this point, everyone should be used to looking at charts of stocks and indices that look like they are topping out, many in climactic fashion (click here for a review of Caterpillar (CAT); click here for a review of Intel (INTC)). Add healthcare stocks to the growing list. Specifically, the Health Care Select Sector SPDR ETF, XLV, looks like it has topped out in climactic fashion. XLV is experiencing classic "sell the news" action as the consensus seems to herald the end to healthcare reform as a result of the election of Republican Scott Brown to the senate. However, it was the dramatic options action in XLV combined with the high-volume in trading that really caught my interest. As I posted on Twitter Wednesday, XLV's heavy call volume and insignificant put volume thrown in with a high-volume fade in the stock, all summed to toppy action. [Read the full article]


ST. LOUIS, Jan. 22 /PRNewswire-FirstCall/ -- Centene Corporation (NYSE: CNC) today announced the pricing of its previously announced follow-on public offering of 5,000,000 shares of its common stock at a public offering price of $19.25 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares at the public offering price to cover any over-allotments.  The offering is scheduled to close on January 27, 2010.

Centene intends to use the net proceeds of the offering to repay the outstanding indebtedness under its $300,000,000 revolving credit facility and for general corporate purposes, which may include acquisitions, capital expenditures and additions to working capital.

The shares are being offered through underwriters led by BofA Merrill Lynch, Goldman, Sachs & Co., J. P. Morgan Securities Inc., and Credit Suisse Securities (USA) LLC. [Read the full article]

ST. LOUIS (AP) -- Health insurer Centene Corp. said Friday it is selling 5 million shares of common stock for just under $96.3 million.

Centene is offering the stock at $19.25 apiece, a discount to the closing price of $19.41 Thursday.

The company is also offering underwriters a 30-day option to buy up to an additional 750,000 shares to cover any over-allotments. The offering is scheduled to close on Jan. 27.

Centene said it will use proceeds from the offering to repay debt and for general corporate purposes.

Underwriters for the offering include BofA Merrill Lynch, Goldman, Sachs & Co., J. P. Morgan Securities Inc., and Credit Suisse Securities.

Copyright © 2009 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press. [Read the full article]

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