Humana misses, buys 3 rivals

Investor's Business Daily

The managed health care giant topped lowered Q3 earnings forecasts, but reported revenue below views. Humana (HUM) tried to position itself for higher revenue in '13 with 3 acquisitions, including the proposed $500 mil purchase of Metropolitan Health Networks. Humana's EPS slid 2% to $2.62, trouncing estimates by 57 cents on cost cuts. Sales rose 3.8% to $9.65 bil vs. views of $9.86 bil. Shares rose 0.4% to 75.52. Rival WellPoint (WLP) will announce Q3 earnings early Wed. WellPoint fell 0.5% to 60.85.

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