NEW YORK, July 28, 2025 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that a shareholder has filed a securities class action lawsuit on behalf of investors (the "Class") who purchased or acquired the securities of Centene Corporation ("Centene" or the "Company") (NYSE: CNC) between December 12, 2024 and June 30, 2025, inclusive. Should You Join This Class Action Lawsuit? If you purchased or acquired Centene securities, and/or would like to discuss your legal rights and options please visit Centene Co ...

Group 1: Hong Kong Stock Market Highlights - New China Life Insurance (01336) rose over 5%, reaching a historical high, while China Life (2628.HK) increased by 4.4%, AIA (1299.HK) by 3.5%, and China Pacific Insurance (2601.HK) by nearly 2% following the release of the 2Q25 predetermined interest rate of 1.99% by the insurance industry association [1] - Heng Rui Pharmaceutical (1276.HK) opened up 10.65% after announcing a global exclusive licensing agreement with GSK for the HRS-9821 project, excluding mainland China and certain regions [1] - Guangshen Railway (00525.HK) saw a peak increase of over 9% after signing a cooperation agreement for the Guangzhou East Station renovation project, with a total investment of approximately 16.66 billion yuan [1] Group 2: Other Notable Stock Movements - MicroPort Medical (00853.HK) surged over 8% as major shareholders agreed to sell a total of 291 million shares to various buyers, including funds under Shanghai Industrial Capital [2] - China Tobacco Hong Kong (06055.HK) rose over 5% following the release of a draft management regulation for domestic duty-free tobacco products by the National Tobacco Monopoly Administration [2] - Shenghua Land (08106) saw its stock price soar over 200% after a share acquisition agreement was reached [2] - Jiufang Zhitu Holdings (09636) increased over 10% after announcing a profit forecast for the first half of the year, expecting a net profit of 830 to 870 million yuan, a turnaround from a net loss of 174 million yuan in the same period last year [2] - Lianlian Digital (02598) rose over 7% as a report highlighted the significant role of third-party payment institutions in cross-border and multi-currency settlement services [2] Group 3: Macau Gaming Sector Performance - Gaming stocks saw a general increase, with Amax Holdings (00880) up 10.39%, Melco International Development (00200) up 5.64%, and Sands China (01928) up 3.25%. UBS reported that the average daily gaming revenue in Macau for the past week was 657 million patacas, a slight decline due to typhoon impacts, but still showing a year-on-year growth of approximately 14% [3] Group 4: US Stock Market Highlights - AMD (AMD.US) rose 2.68% as it achieved a 50% market share in the server CPU market, matching Intel for the first time [4] - Newmont Corporation (NEM.US) increased by 6.89%, reporting a second-quarter earnings per share of $1.85, up from 73 cents year-on-year [5] - Berkshire Hathaway's holding Verisign (VRSN.US) rose 6.67% despite Q2 revenue falling short of market expectations, as the company raised its full-year revenue guidance [5] - Tesla (TSLA.US) increased by 3.52% with plans to launch Robotaxi services in San Francisco [6]

Core Viewpoint - Rosen Law Firm has announced a class action lawsuit on behalf of purchasers of Centene Corporation securities between December 12, 2024, and June 30, 2025, due to alleged misleading statements regarding the company's financial performance and enrollment rates [1][5]. Group 1: Lawsuit Details - The class action lawsuit claims that Centene's management provided investors with overly positive information regarding expected revenue guidance and adjusted diluted earnings per share (EPS) for the 2025 fiscal year [5]. - Defendants allegedly made confident statements about Centene's enrollment and morbidity rates, while concealing material adverse facts about the true state of these metrics [5]. Group 2: Participation Information - Investors who purchased Centene common stock during the class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - To join the class action, interested parties can visit the provided link or contact the law firm directly for more information [3][6]. Group 3: Law Firm Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has consistently ranked highly in terms of the number of securities class action settlements and has recovered hundreds of millions of dollars for investors [4].

Core Viewpoint - The Centene class action lawsuit alleges that Centene Corporation and its executives misled investors regarding the company's revenue outlook and growth potential, leading to significant financial losses for shareholders [1][4][5]. Group 1: Lawsuit Details - The lawsuit is titled Lunstrum v. Centene Corporation and is filed in the Southern District of New York, seeking to represent purchasers of Centene securities [1]. - Allegations include that Centene provided false information about its projected revenue and growth, while actual enrollment rates and market morbidity were worse than reported [4]. - On July 1, 2025, Centene withdrew its 2025 guidance, revealing that its market growth across 22 states was lower than expected, resulting in a significant stock price drop of over 40% [5]. Group 2: Company Background - Centene Corporation is a healthcare enterprise that offers integrated services to government-sponsored and commercial healthcare programs, focusing on underinsured and uninsured individuals [3]. - The company has faced scrutiny for its optimistic reports that did not align with actual market performance, raising concerns about its financial health and transparency [4][5]. Group 3: Legal Process - The Private Securities Litigation Reform Act of 1995 allows investors who purchased Centene securities during the class period to seek appointment as lead plaintiff in the lawsuit [6]. - The lead plaintiff represents the interests of all class members and can choose a law firm to litigate the case [6]. Group 4: Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [7]. - The firm has a strong track record in obtaining significant recoveries in securities class action cases, including the largest recovery in history of $7.2 billion in the Enron case [7].

Core Viewpoint - A lawsuit has been filed against Centene Corporation and its senior executives for potential violations of federal securities laws, with claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [1][2]. Group 1: Company Overview - Centene Corporation is a healthcare company that provides services to consumers enrolled in government-sponsored healthcare programs such as Medicaid and Medicare, as well as those purchasing insurance under the Affordable Care Act [3]. Group 2: Financial Guidance and Performance - On December 12, 2024, Centene announced financial guidance for fiscal year 2025, claiming stability in earnings despite challenges [4]. - The company increased its 2025 guidance on February 4, 2025, citing enrollment overperformance, and again on April 25, 2025, due to strong growth in enrollment and retention [4]. - Contrary to these claims, the majority of the market served by Centene was experiencing lower than expected enrollment growth and increased morbidity rates [4]. Group 3: Stock Performance and Market Reaction - On July 1, 2025, Centene withdrew its previous guidance after an independent actuarial report revealed lower than expected market growth and higher morbidity rates in 22 of the 29 states it serves [5]. - Following this news, Centene's stock price fell by $22.87 per share, a decline of over 40%, from $56.65 on July 1, 2025, to $33.78 on July 2, 2025 [5].

NEW YORK, July 25, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Centene Corporation ("Centene" or the "Company") (NYSE: CNC) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Centene investors who were adversely affected by alleged securities fraud between December 12, 2024 and June 30, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/centene-corporation-lawsuit ...

Core Insights - Centene Corporation (CNC) reported a second-quarter 2025 adjusted loss per share of 16 cents, missing the Zacks Consensus Estimate of earnings of 68 cents, and a significant decline from the year-ago profit of $2.42 per share [1][11] Financial Performance - The company's revenues increased by 22.4% year over year to $48.7 billion, surpassing the consensus mark by 10.9% [2][11] - Medicaid revenues grew 7% year over year to $21.7 billion, while Medicare revenues surged 58% year over year to $9.5 billion [3] - Commercial revenues improved 18% year over year to $10.1 billion [3] - Total premiums reached $41.7 billion, an 18.8% year-over-year increase, driven by higher premiums and an expanding membership base [4] Membership and Operational Metrics - Total membership (excluding TRICARE) was 28 million as of June 30, 2025, reflecting an 8.9% year-over-year growth, although there were declines in Medicaid and Medicare memberships [6] - The health benefits ratio deteriorated to 93%, a 540 basis point decline year over year, exceeding the consensus mark of 90.82% [7] Expenses and Losses - Operating expenses totaled $49.2 billion, a 27.4% year-over-year increase, attributed to rising medical costs, premium tax expenses, and administrative costs [7] - Adjusted net loss was recorded at $79 million, contrasting with year-ago earnings of $1.3 billion [8] Cash and Equity Position - As of June 30, 2025, Centene had cash and cash equivalents of $14.5 billion, up from $14.1 billion at the end of 2024 [9] - Total assets increased to $86.4 billion from $82.4 billion at the end of 2024, while long-term debt decreased to $17.6 billion from $18.4 billion [9] Share Repurchase Activity - Centene repurchased common shares worth approximately $432 million in the second quarter of 2025 [12] Peer Comparison - Elevance Health, Inc. reported second-quarter 2025 adjusted EPS of $8.84, missing estimates and showing a 12.6% year-over-year decline [13] - UnitedHealth Group is expected to report a significant year-over-year decline in profits despite a projected 12.8% revenue increase [14]

Core Viewpoint - Class action lawsuits have been filed against several publicly-traded companies, alleging misleading statements and failure to disclose critical information that may have impacted shareholders' investments [1]. Group 1: Hims & Hers Health, Inc. (NYSE: HIMS) - The class period for Hims & Hers Health, Inc. is from April 29, 2025, to June 23, 2025, with a lead plaintiff deadline of August 25, 2025 [2]. - Allegations include deceptive promotion and selling of illegitimate versions of Wegovy, risking patient safety, and potential termination of collaboration with Novo Nordisk [2]. Group 2: iRobot Corporation (NASDAQ: IRBT) - The class period for iRobot Corporation is from January 29, 2024, to March 11, 2025, with a lead plaintiff deadline of September 5, 2025 [3]. - Allegations state that iRobot overstated the effectiveness of its Restructuring Plan post-Amazon Acquisition, raising doubts about its ability to operate profitably as a standalone company [3]. Group 3: Centene Corporation (NYSE: CNC) - The class period for Centene Corporation is from December 12, 2024, to June 30, 2025, with a lead plaintiff deadline of September 8, 2025 [4]. - Allegations include lower-than-expected enrollment and increased market morbidity affecting over two-thirds of Centene's marketplace share, leading to misleading statements about the company's prospects [4]. Group 4: Biohaven Ltd. (NYSE: BHVN) - The class period for Biohaven Ltd. is from March 24, 2023, to May 14, 2025, with a lead plaintiff deadline of September 12, 2025 [5]. - Allegations involve overstated regulatory prospects for treatments and potential negative impacts on Biohaven's business and financial condition once the truth is revealed [5].

Core Insights - Centene Corp (NYSE:CNC) stock increased by 3.9% to $27.75 despite reporting an adjusted second-quarter loss of 16 cents per share, which was worse than the projected loss of 11 cents per share. However, revenue exceeded estimates, leading to a recovery in stock price after significant premarket gains [1] - The stock has been recovering from a 55% year-to-date deficit, primarily due to a 40% drop on July 1 when the company withdrew its 2025 forecast. The shares reached an eight-year low of $26.66 but are now testing the 10-day moving average [2] - Options trading activity has shown a strong preference for calls, with 83,508 calls purchased compared to 12,760 puts over the past two weeks, resulting in a call/put volume ratio of 6.53, indicating high call buying activity [3] - Recently, there has been a shift towards puts, with 58,000 puts traded, which is 26 times the average intraday volume and more than double the number of calls. The September 22.50 put is particularly popular, suggesting some traders may be hedging against potential declines [4] - Short interest has increased by 26% in the last two reporting periods, indicating growing bearish sentiment amidst the stock's technical challenges [4]

Financial Data and Key Metrics Changes - The company reported an adjusted per share loss of $0.16 for Q2 2025, which was below the financial goals set at the beginning of the year [7][33] - Premium and service revenue for Q2 2025 was $42.5 billion, reflecting challenges in the Marketplace and Medicaid segments [33][41] - The adjusted diluted EPS guidance for the full year 2025 has been revised down to approximately $1.75, significantly lower than the previous guidance of $7.25 [24][40] Business Line Data and Key Metrics Changes - Marketplace membership reached 5.9 million, generating over $10 billion in commercial premium and service revenue, but faced a $1.2 billion pretax drag due to risk adjustment transfer revenue shortfalls [8][10] - The Medicaid portfolio reported a health benefits ratio (HBR) of 94.9%, driven by increased medical costs in behavioral health, home health, and high-cost drugs [15][19] - Medicare Advantage is on track for breakeven in 2027, with PDP membership stable at 7.8 million and showing improved performance [21][23] Market Data and Key Metrics Changes - The company anticipates a $2.4 billion headwind to Marketplace earnings in 2025 due to a significant morbidity shift, with some states experiencing a 16% to 17% year-over-year change [10][11] - Medicaid rate adjustments are expected to be around 5% for 2025, an increase from the previous expectation of 4% [19][24] - The overall market is expected to contract further, with the company projecting a decrease in Marketplace membership to 5.4 million by year-end 2025 [69][70] Company Strategy and Development Direction - The company is focused on restoring profitability in the Marketplace by repricing 100% of the book for 2026, addressing the morbidity shifts observed in 2025 [12][29] - In Medicaid, the strategy includes advocating for rate adjustments and managing costs through clinical interventions and fraud prevention [18][19] - The company aims to leverage its size and scale to create transparency in market dynamics and improve pricing strategies [76][78] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment with Q2 performance but emphasized a unified focus on restoring earnings trajectory and improving performance across the portfolio [7][24] - The company is actively engaging with state partners to address Medicaid cost trends and secure necessary rate adjustments [19][60] - Future earnings potential is seen in the ability to manage costs effectively and secure favorable rates, with confidence in the long-term viability of its business segments [41][42] Other Important Information - The company has filed 2026 pricing in 17 states and expects to submit additional filings soon, aiming for state certification of rates [12][36] - Cash flow from operations was $1.8 billion for Q2, with unregulated cash on hand at $234 million [39] - The company does not anticipate further share buybacks in 2025 but remains open to opportunistic actions based on market conditions [39][40] Q&A Session Summary Question: Capital position and potential needs for additional capital - The company plans to inject a net $300 million into subsidiaries in the second half of the year, with a renewed $4 billion credit facility available [44][46] Question: Risk adjustment true-up and market impacts - Management acknowledged that program integrity measures led to a significant morbidity shift, affecting expectations for 2026 pricing [48][51] Question: Medicaid guidance and HBR expectations - The company expects a 140 basis point improvement in HBR for the second half of the year, focusing on specific states that contributed to Q2 underperformance [56][59] Question: Weekly data membership trends and market size - The overall market is expected to contract, with the company projecting further membership attrition due to program integrity measures [67][70] Question: Strategy for risk adjustment payables - The company is considering adjustments to product and benefit structures to optimize for lower payables while maintaining profitability [74][76]