During Thursday’s afternoon trade, Shares of UnitedHealth Group Incorporated (NYSE:UNH), lost -5.47% to $110.85.
UnitedHealth Group Incorporated, stated revised expectations for 2015, reflecting a ongoing deterioration in individual exchange-compliant product performance, and offered an initial outlook for 2016.
“In recent weeks, growth expectations for individual exchange participation have tempered industrywide, co-operatives have failed, and market data has signaled higher risks and more difficulties while our own claims experience has deteriorated, so we are taking this proactive step,�? said Stephen J. Hemsley, chief executive officer of UnitedHealth Group. “We continue to be happy with the growth and overall performance of our Company outside of the individual exchange products and look forward to strong, positive and broad based earnings growth across our enterprise in 2016.�?
The Company’s revised 2015 net earnings outlook of about $6.00 per share reflects predictable pre-tax earnings pressure of $425 million or $0.26 per share, counting $275 million related to the advance recognition of 2016 losses. The earnings pressure is driven by projected losses on individual exchange-compliant products related to the 2015 and 2016 policy years.
The remainder of the business continues to perform in line with expectations. The Company noted strong growth momentum and performance in all other benefit market segments and distinguished performance in its services businesses.
UnitedHealth Group Incorporated operates as a diversified health and well-being company in the United States. The company’s UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; and health care coverage, and health and well-being services to individuals aged 50 and older addressing their needs for preventive and acute health care services.
Shares of Pepsico, Inc. (NYSE:PEP), inclined 0.80% to $101.07, during its current trading session.
PepsiCo Four delicious potato chip flavours, inspired by the Tastes of Canada, took the chip aisle by storm this summer hoping to be named the next great Lays potato chip flavour. After almost two months of winning over the taste buds (and votes!) of Canadians, P.E.I. Scalloped Potatoes on Lays Original chips has been selected as this years flavourite. It will be available again in stores across Canada next week.
Jordan Cairns was inspired by Atlantic Canadas reputation for potato cultivation to create his P.E.I. Scalloped Potatoes flavour. One of Jordans fondest memories of growing up was when he sat down to big family dinners on Friday nights and holidays. His favourite side dish at these meals was always the freshly baked, rich and cheesy scalloped potatoes. In addition to chip aisle fame, Jordan will receive $50,000 plus one per cent of his flavours future sales.
Im excited to be named this years winner, says Jordan. Its incredible to think that a flavour inspired by a childhood memory will join the Lays lineup in stores across Canada.
PepsiCo, Inc. operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay’s potato chips, Doritos tortilla chips, Cheetos cheese-flavored snacks, Tostitos tortilla chips, branded dips, Ruffles potato chips, Fritos corn chips, and Santitas tortilla chips.
Finally, Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), lost -2%, and is now trading at $1.96.
Arena Pharmaceuticals, declared that the company will host an Analyst & Investor Day on Thursday, December 3, 2015, from 12:00 p.m. to 3:00 p.m. Eastern Time (9:00 a.m. to 12:00 p.m. Pacific Time) in New York City.
Arena Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes novel drugs that target G protein-coupled receptors. The company offers BELVIQ, a drug used to treat chronic weight administration in adults. It is also developing a portfolio of programs in various therapeutic areas, counting cardiovascular, central nervous system, and metabolic diseases.
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