Magellan shares fall with loss of major contract
By The Associated Press | |
Associated Press |
Shares of
THE SPARK: The
Magellan said the end of the contract will not affect its forecast for 2013. The company said
Analysts expected earnings of
THE BIG PICTURE: Magellan manages behavioral health, radiology, specialty pharmaceutical and public sector pharmacy benefits programs. It works for health plans, employers and government agencies.
The company also said
THE ANALYSIS: Citi analyst
Magellan representatives did not return a phone call or respond to an email request seeking comment.
McDonald estimates about
"There's enough business out to bid, particularly in the
SHARE ACTION: Down 4.4 percent, or
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Wordcount: | 351 |
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