PREMARKET ALERT: Wellcare Health Plans (WCG)

Posted in General 
July 29th, 2009

Wellcare Health Plans Inc. (NYSE: WCG) stock rose 23 percent to $23.99 as one of the most actively traded after-hours issues, with more than 441,000 shares changing hands. The health insurance provider posted EPS of $1.42 a share, or $1.02 etter than analyst expectations. Revenue rose 8.9 percent to $1.79 billion, above expectations of $1.77 billion. The company guided higher for fiscal 2009. It reported growth in membership and premium revenue in several Medicare and Medicaid plans, and risk adjustment payments that exceeded previous estimates. — Mike Tarsala

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