On Tuesday, Centene Corp (NYSE:CNC)’s shares inclined 0.82% to $69.67.
Centene Corporation (CNC) declared its financial results for the quarter ended June 30, 2015. The following talk about, with the exception of cash flow information, are in the context of ongoing operations.
Second Quarter Highlights
- June 30, 2015 managed care membership of 4.6 million, an enhance of 1.3 million members, or 38% contrast to the second quarter of 2014.
- Premium and service revenues for the second quarter of $5.2 billion, representing 39% growth contrast to the second quarter of 2014.
- Health Benefits Ratio of 89.1% for the second quarter of 2015, contrast to 88.9% in the second quarter of 2014 and 89.8% in the first quarter of 2015.
- General and Administrative expense ratio of 8.5% for the second quarter of 2015, contrast to 8.6% in the second quarter of 2014 and 8.5% in the first quarter of 2015.
- Operating cash flow of $350 million for the second quarter of 2015.
- Diluted EPS for the second quarter of 2015 of $0.72, counting $0.01 of diluted EPS associated with Health Net, Inc. (Health Net) merger related expenses, contrast to $0.39 in 2014.
Centene Corporation operates as a diversified, multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. It operates in two segments, Managed Care and Specialty Services. The Managed Care segment offers Medicaid and Medicaid-related health plan coverage to individuals through government subsidized programs, counting Medicaid, the State childrens health insurance program, long-term care, foster care, and dual-eligible individuals, in addition to aged, blind, or disabled programs.
Keryx Biopharmaceuticals (NASDAQ:KERX)’s shares gained 5.61% to $8.09.
Keryx Biopharmaceuticals, Inc. (KERX) declared the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion for the marketing authorization of ferric citrate coordination complex (EU approved brand name Fexeric(R)) recommending approval for the treatment of elevated serum phosphorus levels, or hyperphosphatemia, in adults with chronic kidney disease (CKD). Fexeric was approved under the brand name Auryxia(TM) by the U.S. Food and Drug Administration in September 2014, and is indicated in the U.S. for the control of serum phosphorus levels in patients with chronic kidney disease on dialysis.
Keryx Biopharmaceuticals, Inc., a biopharmaceutical company, focuses on providing therapies for patients with renal disease in the United States. Its lead product Auryxia (ferric citrate), an oral, ferric iron-based compound that has the capacity to bind to phosphate in the gastrointestinal tract and form non-absorbable complexes, in addition to treats iron deficiency anemia. Auryxia is also used to control serum phosphorus levels in patients with chronic kidney disease on dialysis.
At the end of Tuesday’s trade, SunPower Corporation (NASDAQ:SPWR)‘s shares surged 2.19% to $25.66.
SunPower Corp. ( SPWR) declared that on July 31, 2015, it will redeem the entire $79,000 outstanding principal amount of its 0.75% Senior Convertible Debentures due in 2027 (CUSIP No. 867652 AB 5). SunPower intends to use accessible funds to redeem the debentures.
SunPower Corporation designs, manufactures, and delivers solar systems to residential, commercial, and utility-scale power plant customers worldwide. The company offers solar power components, counting panels, balance of system components, and inverters. It also offers rooftop and ground-mounted solar power systems, counting residential systems, commercial roof and ground mounted systems, utility and power plant systems, and utility-scale photovoltaic power plants.
PPG Industries, Inc. (NYSE:PPG), ended its Tuesdays trading session with 4.42% gain, and closed at $106.92.
PPG Industries (PPG) held a meeting for securities analysts in Cabo San Lucas, Mexico. The meeting comprised of presentations by Michael McGarry, PPG president and chief operating officer; and Marcos Achar Levy, PPG vice president, architectural coatings, Latin America, and chief executive officer, PPG-Comex.
During the meeting, PPG reviewed details of PPG-Comex Mexican operations, offered information about the growth of the Mexican economy and PPG-Comex, and toured PPG-Comex concessionaire locations. The company indicated during the meeting it anticipates cost synergies associated with the Comex acquisition to be $45 million to $50 million by the end of 2016, up from the company’s previous guidance of $30 million to $40 million.
PPG also issued new acquisition-related revenue synergy targets for the PPG-Comex acquisition. The company anticipates to generate $40 million to $50 million in revenue within two years from sales of legacy PPG products through the PPG-Comex distribution network. PPG set a separate revenue target of $60 million to $70 million within five years for incremental coatings sales in Central America. PPG had formerly issued no incremental revenue guidance regarding Comex.
PPG Industries, Inc. manufactures and distributes coatings, specialty materials, and glass products. The company’s Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; sealants, coatings, maintenance cleaners, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor for specialty applications; and chemical administration services.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
