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Premarket Mover: Wellpoint Falls



By AP
11 March 2008 @ 07:51 am EST

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.

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WLP 41.19 -0.82
AET 32.21 -1.41
FACE 5.31 -0.03
CMGI 8.89 -1.47

SYMBOL LOOKUP

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.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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