Health care stocks rose in Wednesday morning trading, with insurers rising after UnitedHealth Group Inc. reduced its full-year profit and revenue forecasts as Wall Street expected.
UnitedHealth said high Medicare-related costs, lower commercial business and price pressure will hurt its results, but analysts said the announcement was widely anticipated.
Here are early results for a few key stocks in the sector:
UnitedHealth Group rose 57 cents, or 2.2 percent, to $26.20.
Coventry Health Care Inc. rose $1.53, or 5.1 percent, to $31.83.
McKesson Corp. rose 74 cents to $55.59.
Tenet Healthcare Corp. rose 29 cents, or 5.1 percent, to $5.94.
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