WELLPOINT SAYS PROFITS ROSE 20%.Byline: Jim Finkle Bloomberg Bloomberg A major global provider of 24-hour financial news and information including real-time and historic price data, financials data, trading news and analyst coverage, as well as general news and sports. News WellPoint Health Networks Inc. said third-quarter profit rose 20 percent, excluding the effect of a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. tax ruling, as the managed-care company kept costs under control at a time when rising medical expenses are hurting competitors. Profit excluding the tax benefit for California's No. 2 health insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. , rose to $66.7 million, or 95 cents a share, from $55.6 million, or 79 cents, a year earlier. The results matched the average estimate of analysts polled by First Call Corp. WellPoint's shares have gained 47 percent this year, while shares of competitors like United HealthCare Corp. and Foundation Health Systems Inc. have tumbled as rising health care costs and problems with Medicare caused them to report losses. WellPoint has avoided such difficulties by instituting tight cost controls and avoiding business with Medicare, the federal government's health insurance program for the elderly. ``They're executing well in a tough environment,'' said Todd Richter, a Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Dean Witter Dean Witter may refer to:
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion