Republican Scott Brown Wins Senate Seat
Updated from Tuesday, Jan. 19
BOSTON ( TheStreet) -- Republican Scott Brown won a special election Tuesday to fill the U.S. Senate seat long held by the late Ted Kennedy, complicating the Obama administration's efforts to pass a health care reform bill.
Brown was leading Democrat Martha Coakley 52% to 47% with 98% of precincts reporting, according to results compiled by the Associated Press. Coakley conceded defeat shortly before 10 p.m. EST. Independent candidate Joseph Kennedy, who isn't related to the late senator, had 1%.
Brown, a state senator, campaigned against the health care legislation. Both the House and Senate already have passed different versions of a health care bill that must be reconciled in a bicameral conference committee. Without the Massachusetts seat, Democrats don't have the 60-vote majority in the Senate that allows them to avoid a Republican filibuster.On Tuesday, health insurer stocks like Humana (HUM), UnitedHealth Group (UNH) and Aetna (AET) all traded higher as it appeared Brown would win the election. Follow TheStreet.com on Twitter and become a fan on Facebook.
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