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Opening Glance: Health care shares gain ground



By AP
02 July 2008 @ 10:49 am EST

NEW YORK - 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.

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Quotes
UNH 22.09 -2.02
CVH 29.8 -1.75
MCK 46.17 -2.69
THC 4.5 -0.51
ABC 34.86 -2.14
AET 33.06 -3.34
CAH 47.56 -2.51
CI 30.83 -2.57
DGX 47.7 -2.5
ESRX 65.8 -4.04
HUM 36.78 -2.53
LH 63.01 -3.32
MHS 42.51 -2.49
PDCO 27.77 -1.1
WCG 27.67 -3.49
WLP 42.52 -1.94

SYMBOL LOOKUP

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.

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 This material may not be published, broadcast, rewritten or redistributed.

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