Bond Giant Pimco Dismisses Trump's Threats to Fed's Powell
Bond powerhouse Pimco hasn't adjusted its positions in light of Trump's threats to push Powell out, even with the potential for dramatic moves in Treasurys if it were to happen, according to people close to the situation.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
Centene's First Quarterly Loss In 13 Years Sends Shares Crashing
Healthcare insurance giant Centene Corporation (NYSE:CNC) saw its stock tumble significantly on Friday after reporting a surprising second-quarter 2025 adjusted loss of 16 cents per share. This stark reversal from an adjusted income of $2.42 per share in the prior year quarter sharply contrasted with analyst expectations of a $1.26 per share profit, marking the company's first quarterly loss since the second quarter of 2012, according to data from Benzinga Pro. Despite the earnings shortfall, Centene demonstrated strong top-line growth, with sales surging 22% year-over-year to $48.74 billion, comfortably exceeding the consensus estimate of $44.48 billion. However, this revenue performance was overshadowed by substantial increases in medical costs.'We are disappointed by our second-quarter results, but we have a clear understanding of the trends that have impacted our performance, and are working with urgency and focus to restore our earnings trajectory,' stated Sarah London, Chief Executive Officer of Centene, acknowledging the challenging quarter. The company's premium and service revenues climbed 18% to $42.5 billion from $36.0 billion a year ago. This growth was primarily fueled by expanding premium and membership in the Prescription Drug Plan (PDP) business, overall market growth in the Marketplace business, and rate increases within the Medicaid segment. These gains, however, were partially offset by a decline in Medicaid membership due due to ongoing redeterminations and reduced net risk adjustment revenue in the Marketplace. View more earnings on CNC A critical factor in the earnings miss was the deterioration of Centene's Health Benefits Ratio (HBR), which climbed to 93.0% in the second quarter of 2025, up from 87.6% in the corresponding period last year. This increase primarily stemmed from a reduction in the company's estimated net 2025 Marketplace risk adjustment revenue transfer, escalating medical costs within the Marketplace, higher Medicaid medical costs driven by behavioral health services, home health, and high-cost drugs, and an increase in the 2025 Medicare Advantage premium deficiency reserve as earnings progressed through the year. Total membership across Centene's diverse portfolio declined to 28 million from 28.48 million a year ago, predominantly due to a reduction in Medicaid membership from 13.14 million to 12.82 million. Conversely, the company experienced strong membership growth in other key areas, with Marketplace enrollment increasing 33% to 5.86 million and Medicare PDP expanding 19% to 7.85 million compared to the second quarter of 2024. Earlier in July, Centene had already signaled potential headwinds by withdrawing its 2025 GAAP and adjusted diluted EPS guidance, following an initial review of 2025 industry data from Wakely, an independent actuarial firm. The company announced that it would provide updated guidance during its earnings conference call. Centene's stock performance this quarter mirrors a broader trend within the healthcare insurance sector, as evidenced by the recent decline in shares of competitors like Elevance Health Inc. (NYSE:ELV) and Cigna following their own earnings reports. Elevance Health notably saw its stock plummet after missing analyst expectations for its second-quarter 2025 adjusted earnings and significantly lowering its full-year guidance, despite strong revenue growth. In premarket trading on Friday, Centene's stock plummeted 14.5% to $22.89, falling below its previous 52-week low of $26.66. The continued downward pressure underscores significant investor concern over the unexpected quarterly loss and the challenging operational environment impacting the healthcare insurance industry. Read Next:Image via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? CENTENE (CNC): Free Stock Analysis Report This article Centene's First Quarterly Loss In 13 Years Sends Shares Crashing originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
20 minutes ago
- Yahoo
Decorated Veteran and Top-Producing Loan Officer Brian Bloete Joins Rate
Brian Bloete MONTVILLE, N.J., July 25, 2025 (GLOBE NEWSWIRE) -- Rate, a leading fintech company, proudly announces the addition of Brian Bloete, a decorated U.S. Marine Corps veteran and top-producing loan officer, to its team in Montville, NJ. Bloete joins Rate as part of the company's continued commitment to attracting elite originators who prioritize service, integrity, and performance. Shop Top Mortgage Rates Personalized rates in minutes Your Path to Homeownership A quicker path to financial freedom Since joining the mortgage industry in 2016, Bloete has closed more than $250 million in loans, earning recognition as a Scotsman Guide Top 1% Originator every year from 2020 through 2025. Known for delivering tailored financing solutions and guiding clients through complex lending decisions with confidence, Bloete brings a customer-first mindset and proven production to Rate's expanding Northeast footprint. 'I moved to Rate to join a winning team, one with cutting-edge technology and product offerings that allow me to better serve every client,' said Bloete. 'This platform empowers me to provide personalized mortgage solutions that make a real difference for borrowers.' 'We're very excited to welcome Brian, a proud U.S. Marine Corps veteran and top-producing loan officer, to Rate,' said Jeff Nelson, Chief Production Officer, East at Rate. 'His success stems from ensuring borrowers receive tailored mortgage options that are specific to their home needs while always prioritizing the customer-first philosophy. Welcome to Rate, Brian!' Rate continues to attract elite producers looking to grow their businesses while delivering exceptional borrower outcomes. The addition of Brian Bloete reinforces Rate's strong presence in the Montville area and its appeal to highly accomplished, service-driven professionals. About Rate Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate has over 850 branches across all 50 states and Washington, D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans, refinances, and home equity loans. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Recent honors and awards include: a Best Mortgage Lender of 2025 by Fortune; Best Mortgage Lender of 2025 for First-Time Homebuyers by Forbes; a Best Mortgage Lender of 2025 for FHA Loans, Home Equity Loans, and Lower Credit Scores by NerdWallet; Best Mortgage Lender of 2025 for Digital Experience and Down Payment Assistance by Motley Fool; Chicago Agent Magazine's Lender of the Year for seven consecutive years. Visit for more information. Media Contact:press@ A photo accompanying this announcement is available at l'accesso per consultare il tuo portafoglio
Yahoo
20 minutes ago
- Yahoo
Trump suggests Fed Chair may cut interest rates
WASHINGTON (Reuters) -President Donald Trump said on Friday he had a good meeting with Federal Reserve Chair Jerome Powell and got the impression Powell might be ready to lower interest rates. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
