ANALYSTS FORECAST 50% RISE AT FHS.Byline: Chris Sieroty Staff Writer Despite massive lawsuits that threaten the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. financial stability of the managed-care industry, Foundation Health Systems Inc. is expected to report third-quarter earnings nearly 50 percent higher than the year-ago period. A poll of 16 analysts by First Call predicts the Woodland Hills-based managed care company today will report earnings of 31 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for the 1999 third-quarter, compared with 21 cents for the same period a year ago. ``We have only begun to see these lawsuits being filed,'' said Todd Todd , Sir Alexander Robertus 1907-1997. British chemist. He won a 1957 Nobel Prize for his study of nucleic acids and nucleotide structures. Richter, an analyst with Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Securities in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . ``Both large and small managed-care companies will have legal action brought against them.'' ``These lawsuits have more merit than those in the health care industry would have you believe . . . and will be a cloud hanging over the industry for the next five to 10 years,'' added Richter. Earlier this year, several of the country's most powerful attorneys turned their attention from suing tobacco companies to filing class-action lawsuits on behalf of clients claiming health maintenance organizations had denied patient benefits. Richter describes Foundation Health as a company that has done a ``very solid job building a core group of assets they can control. It's hard to see how they are going to grow their business without a unique position in any product or market.'' In a printed statement, Foundation Health Systems said it offers HMOs, administration of government health contracts, life insurance and specialty plans such as dental and vision care services. Formed in April 1997 from the merger of Health Systems International and Foundation Health Corp., Foundation Health is the nation's fourth-largest publicly traded managed-care company. FHS FHS - Filesystem Hierarchy Standard serves 6 million members in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , Arizona, Florida and the Northeast. Shares of Foundation Health Systems Inc. closed up 25 cents, or 2.7 percent, Wednesday at $9.4375. |
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