This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

HMOs Spike ... This Time for Good?

(Updated for closing prices)

NEW YORK ( TheStreet) -- Shares of the U.S. health insurers got off to a quick start on Wednesday when news of the demise of the public option in the congressional healthcare overhaul and comments made by Aetna's (AET - Get Report) CEO buoyed the sector.

However, those quick gains were muted by the end of Wednesday, as still new concerns about revenue spending requirements surfaced.

Thursday was a different story, though, as the gains in the sector from early in the trading day remained at the market close, with some HMOs, like Health Net (HNT - Get Report), achieving 52-week high levels. Health Net closed up 4.5% on Thursday to $23.76, 3 cents below the 52-week high it reached earlier in the trading session.

The biggest gainers overall on Thursday were UnitedHealth Group (UNH - Get Report), which was up 6.4%; Cigna (CI - Get Report), up 6.1%; WellCare Health Plans (WCG - Get Report), up 5.5%; and Aetna, up 5.2%.

Coventry Health Care (CVH) was up 4%; while Humana (HUM - Get Report) was up 2.8%.

WellPoint (WLP), the laggard of the group, was up 1.8% at mid-day.

-- Reported by Eric Rosenbaum in New York.

>>See our new stock quote page.

Follow TheStreet.com on Twitter and become a fan on Facebook.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
WLP $136.01 1.43%
AET $108.82 0.00%
CI $130.66 0.00%
HNT $58.28 0.00%
HUM $182.35 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs