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Amerigroup Shares Plunged: What You Need to Know

By Cindy Johnson | More Articles
August 1, 2011 | Comments (0)

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Managed health care provider Amerigroup (NYSE: AGP  ) had an unhealthy day today, dropping 12% in intraday trading today after Medicare cuts were announced late Friday.

So what: Medicare announced an 11% reduction in rates for its skilled nursing facilities, effective next fiscal year. The Centers for Medicare & Medicaid Services also said there was an unexpected increase in nursing home payments this fiscal year.

Now what: A hoped-for 1.5% funding increase for skilled nursing facilities is now off the table. Stocks of Humana (NYSE: HUM  ) , WellCare Health Plans (NYSE: WCG  ) , UnitedHealth Group (NYSE: UNH  ) , WellPoint (NYSE: WLP  ) , Aetna (NYSE: AET  ) , and Cigna (NYSE: CI  ) are also ailing today. The sell-off follows on the heels of another big plunge last Friday, after Amerigroup reported disappointing earnings.

Interested in more info on Amerigroup? Add it to your watchlist by clicking here.

The Steve Jobs Betrayal
You may already know that in the final year of his life, Jobs revealed a stunning betrayal — and told his biographer, "I will spend my last dying breath... and every penny of Apple's $40 billion in the bank to right this wrong." What was it that made Jobs so irate — and why could it make a few in-the-know investors some major profits over the coming months and years?

Enter your email address below to find out what made Jobs so enraged!

Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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Related Tickers

5/25/2012 4:02 PM
AGP $61.81 Down -0.20 -0.32%
Amerigroup CAPS Rating: ***
UNH $56.12 Down -0.10 -0.18%
UnitedHealth Group CAPS Rating: *****
WCG $57.61 Up +0.89 +1.57%
WellCare Health Pl… CAPS Rating: **
CI $44.50 Up +0.41 +0.93%
Cigna Corporation CAPS Rating: ***
HUM $77.28 Down -0.03 -0.04%
Humana, Inc. CAPS Rating: ****

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