NEW YORK - Analysts cut their estimates on WellPoint Inc. Tuesday after the health insurer reduced its 2008 profit forecast, with at least two analysts downgrading the stock.
WellPoint shares fell 22 percent to $51.50 in premarket trading, having closed Monday at $65.92.
The news did not help shares of rival managed care provider Aetna Inc., which said earlier Monday it still anticipates 2008 profit below Wall Street's forecast.
Aetna shares fell $4.51, or 9.6 percent, in premarket trade, having closed Monday's regular session at $46.51.
Cosmetics company Physicians Formula Holdings Inc. said Monday it swung to a fourth-quarter profit on a combination of sales growth and lower costs.
Shares added 60 cents, or 7 percent, to $8.50 in premarket trading, having closed Monday at $7.90.
Supply chain and inventory management software provider CMGI Inc. said late Monday its fiscal second-quarter profit fell 23 percent, but reaffirmed its outlook for revenue between $1.1 billion and $1.15 billion in fiscal 2008.
The stock rose 38 cents, or 3.5 percent, to $11 in premarket trading, having closed Monday at $10.62.

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