Health Stocks Surge On News That GOP Pull Health Bill
A look at how the markets are reacting to the defeat of the American Health Care Act.
Hospitals Gain As Republican Health Repeal Bill Is Pulled
Health stocks surged late in the trading session Friday after Republicans pulled their bill to repeal and replace Obamacare, lacking the votes to pass it in the House. Hospitals led the advance, with the BI North America Hospitals Competitive Peer Group Index up 5.4 percent at the close in New York. Centene Corp., an insurer that focuses on Medicaid plans, rose 5.2 percent to $68.73. Hospitals and insurers like Centene would have been hurt by the GOP bill, which would cut millions of people from health insurance and roll back an expansion of the Medicaid program for the poor. (Tracer and Greifeld, 3/24)
Winners And Losers After Friday's Pulled Health-Care Bill
Health-care stock performance diverged Friday after the controversial GOP health care bill was pulled from the floor of the House of Representatives. UnitedHealth, Anthem and Cigna closed lower. The three stocks would have been among the top winners if the bill had passed, Leerink Partners analyst Ana Gupte said on CNBC's "Squawk Box." Cigna fell 2.25 percent in its worst day of the year so far. The stock was also the worst performer in the S&P 500's health care sector. The second worst performer was Anthem, which fell more than 1.5 percent in its worst day since Feb. 17. (Cheng, 3/24)