Stocks Jump On The News Of Higher Health Insurance Enrollment
After the government announced that 6 million people have signed up on the federal exchanges for coverage next year, shares of the three biggest publicly traded hospitals rose, staving off concerns that the benefits to the industry from the health law are plateauing.
Obamacare, Tech Stocks Boost Wall Street
U.S. stocks ended stronger on Monday, helped by bounces in Apple and Microsoft as well as a rally in hospital stocks after more Americans signed up for subsidized health insurance. ... About 6 million people have signed up for subsidized health insurance, including 2.4 million new customers, the U.S. government said on Friday. Tenet Healthcare Corp jumped 11.6 percent, its best day since June. Universal Health Services Inc rose 3.64 percent. (Randewich, 12/21)
Obamacare Heals Hospital Stocks As 6 Million Signs Up For Plans
Shares of the three biggest publicly traded hospital companies rose Monday after the government said that about 6 million people have signed up for Obamacare coverage for next year on U.S.-run markets, a good sign after concerns that the industry’s benefit from the program was shrinking. Tenet Healthcare Corp. gained 8.9 percent to $29.86 at 11:57 a.m. in New York, after earlier rising 10 percent in the biggest intraday gain since June 25. Community Health Systems Inc. rose 5.6 percent to $26.60. HCA Holdings Inc. shares rose 4 percent to $67.05. Obamacare, also known as the Patient Protection and Affordable Care Act, is in its third year of offering coverage. (Lauerman, 12/21)