Posts Tagged ‘Wellpoint’
Bowing to Investor Pressure, WellPoint CEO Quits
Wellpoint announced that Angela Braly, 51, had stepped down effective immediately. Braly had been dogged by criticism over WellPoint's slumping stock, managerial blunders and disappointing earnings. She also caught the ire of consumers and even President Obama in 2010 for trying to raise rates by up to 39% in California. The Indianapolis company [...]
WellPoint Disappoints; Sector Gets Pummeled
Lower-than-expected earnings and a reduced outlook for WellPoint Inc. took a big bite out of the health insurance giant’s shares Wednesday and the company’s forecast sent a shiver up the spine of the managed-care sector. WellPoint said net income was $643.6 million, or $1.94 a share, and 8.3% drop from the $701.6 million, or $1.89 reported a [...]
Wellpoint to Buy 1-800 Contacts
WellPoint Inc. plans to buy contact lens retailer 1-800-Contacts Inc. in a deal that would give the insurer its first direct-to-consumer business outside selling individual health coverage. The eyewear company will help diversify its revenue sources with a high-margin business. WellPoint is the second-largest U.S. health insurer based on both [...]
Wellpoint Profit Falls 8 Percent
WellPoint says lower enrollment and rising medical costs have hurt its bottom line. Revenue grew 4% to $15.42 billion in the quarter. The company reported net income of $856.5 million, or $2.53 a share, for the three months ended March 31, compared to net income of $926.6 million or $2.44 a share, a year ago. In recent quarters, most health [...]
