WellPoint (NYSE:WLP): American healthcare stocks dropped in up and down trading following the Supreme Court’s upholding of Barack Obama’s healthcare law as constitutional. Included in major healthcare insurance company news: United Healthcare shares went down 1 percent to $58.68, Aetna stock dropped 0.8 percent to $40.62, and WellPoint is down 3.35 percent at $67.16. All fell much further at first, with WellPoint down over 7 percent right after the ruling’s announcement.
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Regions Financial (NYSE:RF): A lawsuit in Florida against Regions Bank going after class-action status regarding the company’s deal with an unregistered investment firm is being allowed to move ahead after a judge’s ruling that the statute of limitation has not been activated. A judge in the Miami U.S. District Court decided this month that the suit can move forward on behalf of 14,000 investors who supplied around $250M through a company called U.S. Pension Trust Corp. that was in a deal with Birmingham-based Regions.
Johnson & Johnson (NYSE:JNJ) has seen hard times of late, but might know how to recover. The company recently finished its potentially lucrative takeover of Synthes, which might assist the company’s turnaround in the long view but probably will provide neutral reactions for the stock at present.
Alcoa (NYSE:AA) is pressuring the Baillieu government for further financial assistance in addition to a $42M rescue package for its problematic Point Henry aluminum smelter in Geelong. Prior to the smelter rescue deal, which might be announced today, Alcoa wants a share in hundreds of millions of dollars in federal tax compensation that the government wants to benefit state reserves.
Oracle (NASDAQ:ORCL) and Hewlett Packard are in a nasty fight over the latter’s lawsuit against the former for breach of contract. Oracle denies any such contract. Both requested a pre-trial ruling on the existence of the contract in question.