Centene's Financial Performance and Forecast - Centene's stock plunged over 40%, marking its worst single-day performance, after withdrawing its full-year forecast [1] - The company expects a $18 billion (18,000 million) reduction in expected risk adjustment revenue transfers from the federal government [4] - Management anticipates a 275% hit to earnings per share (EPS) this year, a significant downturn from the initial expectation of earning more than $725% per share for 2025 [5] - The assessment is based on data from a firm that only covered 22 of the 29 states where they offer exchange plans, and they're assuming that those states will be just as bad [6] Healthcare Exchange and Medicaid Challenges - Overall market growth in the 22 states is lower than expected, indicating fewer people signed up for plans from the state healthcare exchanges [3] - Individuals who enrolled in Obamacare exchange plans are less healthy than anticipated, leading to higher costs for Centene [4] - Centene's Medicaid business has experienced a step up in medical cost trend, particularly in behavioral health, home health, and high-cost drugs, especially in New York and Florida [7][8] - The second quarter Medicaid health benefits ratio should be higher than it was in the first quarter [8] Industry-Wide Concerns and Potential Impacts - The government is cracking down on inappropriate or fraudulent enrollments in healthcare plans sold on exchanges [10] - The population remaining in Obamacare exchanges is less healthy, requiring more healthcare and making them less lucrative customers [12] - Analysts suggest that Centene will likely have to raise its premiums, potentially leading to fewer people enrolling, creating an "insurance spiral" [14] - Negative trends in Obamacare exchanges and higher costs for Medicaid plans are hurting the managed care industry [17]

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Meanwhile, Intel shares 4% lower after Reuters report that the chipmaker is considering a major change to its foundry business. CEO Lift Boutan reportedly exploring a shift away from the company's 18A manufacturing process due to fears that it cannot compete with Taiwan Semi's offering. Intel would instead focus on its 14A process, which it hopes will be more competitive in luring new customers.Stacey Rasen is managing director, senior semiconductor analyst at Bernstein. He's got a market perform rating and ...

Phil, how are you, how are analysts, how are Tesla watchers thinking about um sort of the chess pieces moving on the board, so to speak, with Elon Musk now being in charge of European sales on top of being CEO, Tom J of China, taking over global operations. I mean, this all at a time when when Tesla really has to execute in the back half of the year. I know a lot of people have said and and I've read a lot of the commentary today and they've said, "Look, it's not good for a CEO and a founder to have to step ...

Final trade time, Tim. Yeah. How about this resurgence in the E in bicep.I realize I'm like 15 months too late, but um I'm going to stay long. Better late than never. Yeah, great.Um letter C, City Bank. It is It's not an alltime high cuz remember there was that 10 for one reverse split, but it is in the modern era high and uh still less than one time left. Dan, yeah, send me equipment names.Uh Amount breaking out. We see Bonoin. Yeah, I'm not sure if we get to three times, but it's really not that far off, ...

Let's turn now to Apple rising another 2% for its fourth straight day in the green. Jeffre upgrading the stock to a hold with analysts writing that the company could top June quarter estimates thanks to better China a iPhone sales. Still, they site long-term risks with investors underpricing the impact of tariffs.Their updated price target of $188 a share implying 12% downside from today's close. Of course, this is a move from sell so it's not exactly a pound the table upgrade here, but it is interesting. i ...

Stocks mostly higher today with the S&P 500 and NASDAQ closing at records as President Trump announced the framework of a trade deal with Vietnam. The gains coming despite some weak jobs data. ADP private payrolls unexpectedly fell by 13,000 in June.The labor department jobs report comes out tomorrow morning. For more on what it all means for markets and the Fed, let's bring in Jack Jennis, lead portfolio strategist at Natixus. Jack, great to see you.Thanks for having me back. Where do you stand on on where ...

on Microsoft. What do we make of of this news. Well, I think more importantly than the layoffs because they've been laying folks off and this is what you would expect to do, especially as you're maybe getting better productivity from some of these um applications, you know, I think that the pushing out the chip designs, right.And so we know that again like all of Nvidia's major customers which are meaning to be their major competitors at some point. The fact that they are doing that just tells you that the ...

Consumer Spending & Demand - The company is seeing good demand and strength in consumer spending, with growth in the high 30s percentage year-over-year [1][2] - Consumers' shopping patterns, borrowing, and ability to pay back loans remain strong [2] - The company is witnessing a shift from revolving credit to responsible payment options [7][9] BNPL & Credit Scoring - FICO's move to reflect buy now pay later (BNPL) data in credit scores is considered beneficial [3][4] - A significant percentage of people who haven't tried BNPL services feel it doesn't reflect their repayment history or help build their credit score [3] - The company has been reporting transactions to credit bureaus since 2017, demonstrating responsible repayment behavior by customers [4] - The company encourages the rest of the BNPL industry to participate in reporting to credit bureaus [5] Business & Industry Trends - Elective medical services are becoming a component of the company's volume, indicating a shift in BNPL usage [8] - The company expects continued strength and is optimistic about the second half of the year [10] - Consumers are apportioning their money and seeking fixed payment timelines for a sense of control and confidence [10]

And another stock closing in the red is Microsoft after announcing or word of its plans to lay off more than 9,000 employees came today. This comes after 6,000 people were let go back in May. Largest number of layoffs in technology so far this year.And joining us now to discuss is Alex Canowitz, big technology founder and a CNBC contributor. Alex, welcome. Uh it's tempting to say this is about AI taking jobs, but for Microsoft, I'm not sure that's the case.I do see a movement across tech. We've talked about ...