Humana Earnings Up on Government Segment
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Third-quarter profit nearly doubled from a year ago as income from its government segment surged and the insurer reported a one-time gain.
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Health insurers WellPoint Inc. WLP.N  and Humana Inc. HUM.N both posted lower quarter net profit on  Monday, though results slightly topped Wall Street  expectations.
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WASHINGTON -- The company that provided private interrogators at Abu Ghraib prison and elsewhere in Iraq yesterday reported a large jump in its earnings for the past year.
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Humana Inc.  said on Monday that quarterly net profit more than doubled on strong Medicare membership growth, which prompted the health insurer to raise its 2007 earnings forecast.
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The health insurer Aetna posted a better-than-expected third-quarter profit yesterday as membership increased, and it projected that next yearâs earnings would grow faster than Wall Street expected.
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Humana, the health insurer, said yesterday that profit more than doubled as enrollment increased in the companyâs Medicare plans for older Americans.
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The prescription-benefit manager said earnings soared on higher overall revenue and improved results in its specialty pharmacy business.
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INDIANAPOLIS  Â The quarterly profit at WellPoint, the largest United States health insurer, rose 7 percent, but an unexpected rise in the percentage of revenue used to cover medical costs helped push down its shares.
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The health insurer said its fourth-quarter profit rose 13 percent on higher premiums and fees from specialty insurance and Medicare Part D.
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CIGNA Corp. said net income rose sharply in the third quarter, reflecting increased earnings in its health care segment and a gain from the sale of a retirement benefits business.
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WASHINGTON : Healthy wage growth boosted US personal incomes by 0.4 percent in August, but consumer spending was flat for the month, the Commerce Department said.
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Managed care provider Humana Inc. said Monday its fourth-quarter earnings surged 57 percent due to a lower-than-expected income tax rate and a gain on the sale of a venture capital investment, and the company raised its profit outlook for 2008.
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Stocks rose at the open on Monday, boosted by takeover news and stronger-than-expected earnings in the pharmaceutical sector.
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ConAgra Foods Inc  said on Tuesday that earnings in its third quarter, ending February 24, would come in higher than expected, thanks to strong performance of its trading and merchandise segment and its food and ingredients unit.
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Safeway posted a 77 percent rise in quarterly profit, helped by a tax benefit in the latest quarter.
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Allstate Corp. , the largest publicly traded home insurer in the United States, said on Tuesday that fourth quarter earnings rose 16.5 percent, helped by low catastrophe losses, but missed analysts' estimates.
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Hilton Hotels Corp HLT.N posted a  strong rise in third-quarter earnings on Monday as business and  leisure travel turned up, filling its big urban hotels.