were among the worst-performing health-related stocks Tuesday, falling 6% after the company warned that second-quarter earnings would fall short of Wall Street expectations.
The managed health care provider expects second-quarter earnings of 42 cents to 43 cents a share. Analysts polled by Thomson First Call had been expecting earnings of 48 cents a share. Among other things, the company blamed cost pressure in New Jersey and Florida for the shortfall. Amerigroup also suffered from increased medical utilization in Fort Worth, Texas.
Looking ahead, Amerigroup now expects 2005 earnings of $1.73 to $1.78 a share, down from previous guidance of $1.90 to $1.98 a share. Analysts had been expecting earnings of $1.94 a share. Shares were trading down $2.84 to $41.68.
traded actively after the company reported a second-quarter loss that was narrower than expected. The pharmaceutical company posted a loss of $7.4 million, or 7 cents a share, on sales of $185.1 million. Analysts were expecting a much larger loss of 68 cents a share on lower sales of $118.6 million. A year ago, the company reported a loss of $81.1 million, or 93 cents a share, on sales of $70 million. Shares were trading down 63 cents to $58.99 on volume of 4.6 million shares, or nearly three times its normal daily average.
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rose 7% after the medical device maker posted second-quarter earnings that were better than expected. The company earned $4.7 million, or 31 cents a share, on sales of $40.7 million. Analysts were expecting earnings of 22 cents a share. A year ago, the company earned $3.4 million, or 23 cents a share, on sales of $21.7 million. Second-quarter results were fueled by the company's CLAVE product line and by strong sales of safe medical connectors and custom intravenous systems to
and other sales channels, it said. Looking ahead, the company now expects 2005 earnings of $1.06 to $1.08 a share on sales of $140 million. Analysts had been expecting earnings of 98 cents a share. Shares were trading up $2.26 to $34.15.