Just saw the MOH miss and the drop in PPS. The article points to margin compression, which was the opposite for CNC. Gives new meaning to me regarding the drop on Friday, which I had ascribed again to the highly skilled big boys who have been trading this thing down and up, sometimes as much as 7% over a day or two for some time now. I am still optimistic about the mid to longer term, due to CNC's strategic direction, revenue mix and new synergies, although I do suspect that the PPS will have this saw tooth profile for the forseeable future.
Webush also upgrade MOH to 82 yesterday and look at it today. Has dropped to 53 with a big miss. They are definitely on top of things. Actually maybe they are. Get others to buy and they short.
Agreed goose. I think shares may be a little overheated today but longer term we're looking very good. Wouldn't surprise me to see an opportunity to accumulate in the next few days between $63-$65 on the eventual ride to $80.
Cheers to you and fellow Longs,
Revenues way up by virtue of the acquisition. Gross Margin up.
We may have finally established a base from which to launch a renewed upward climb in the PPS.
2016 ought to be a stellar year for CNC ... the jump this morning suggests to me they're expecting another positive earnings surprise for 1QTR and a possible upgrade in their earnings forecast. We'll see before too long.
Cheers to fellow Longs - and Holding,
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Same pattern, over and over. Doesn't take but two or three hedge fund traders to have coffee in the morning and agree to "paint the tape" by putting in sell orders early mid morning at low prices as usual. Only question becomes at what point to start buying, slowly and steadily enough to produce a "U" shape recovery, sometimes in one day, often in two. Rinse and repeat. Just my supposition, in the absence of any negative news, and in light of S&P 500 funds' need to hold the stock. Why not buy low?
Thought the reaction Monday morning would be more robust to the positive. Oh well. The future's still so bright that we gotta wear shades.
Cheers to fellow Longs,
In the end I was correct. As recently released. Centene ended up paying $800 Millions less for this acquisition.....Excellent!!!
Sentiment: Strong Buy