Centene Reports Loss, Citing Rising Medical Costs
The managed-care company, which focuses on Medicaid, Affordable Care Act plans and Medicare, withdrew its earnings guidance for 2025 earlier this month, citing rising costs in Medicaid and problems in the ACA business, but analysts had still expected lowered profits for the second quarter.
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NBC News
6 hours ago
- NBC News
Trump strikes a deal with the E.U., and a bipartisan duo wants the Epstein files: Weekend Rundown
President Donald Trump on Sunday announced a trade agreement with the European Union that would set tariffs at 15%, ending what had been months of uncertainty surrounding trade with the United States' largest trade partner. The tariff rate is a reduction from the 30% that Trump threatened on July 12 and the 20% he said he would impose on April 2. Announcing the agreement, Trump said the E.U. will not impose a tariff on U.S. imports. He added this agreement was 'satisfactory to both sides.' European Commission President Ursula von der Leyen said Sunday alongside Trump that the pact 'will bring stability. It will bring predictability. That's very important for our businesses on both sides of the Atlantic.' However, Trump said 50% tariffs on steel would remain unchanged and more tariffs could still be on the way for pharmaceutical products, which Ireland is one of the top sources of. Trump recently threatened 200% tariffs on pharma goods. 'Meet the Press' Reps. Thomas Massie, R-Ky., and Ro Khanna, D-Calif., who are working together to push the Trump administration to release federal files related to Jeffrey Epstein, disagreed over whether Trump should pardon Epstein's longtime associate Ghislaine Maxwell. Massie told NBC News' 'Meet the Press' during a joint interview with Khanna that 'whatever they need to do to compel [Maxwell's] testimony, as long as it's truthful, I would be in favor of.' Khanna, on the other hand, said, 'No, I don't' believe that Maxwell should be pardoned or have her sentence commuted and that he is 'concerned' that she met with Deputy Attorney General Todd Blanche last week. 'Look, I agree with Congressman Massie that she should testify, but she's been indicted twice on perjury. This is why we need the files,' Khanna added. In a separate interview, Speaker Mike Johnson, R-La., said he would defer to the president on whether Maxwell should be pardoned, telling moderator Kristen Welker, 'That's not my lane.' Johnson later added, 'If you're asking my opinion, I think 20 years was a pittance. I think she should have a life sentence at least. I mean, think of all these unspeakable crimes, and as you noted earlier, probably 1,000 victims. I mean, you know, this, this is, it's, it's hard to put into words how evil this was.' Politics in brief Close to home: Democrats are planning to make Rep. David Valadao's support for Trump's 'big, beautiful bill' — and his vote for Medicaid cuts — a focal point of their campaign in a key midterm race. Charting old territory: As Texas Republicans plow ahead with a plan to redraw congressional maps ahead of schedule, many governors are increasingly grappling with the issue sooner than expected. First up: The Democratic Party shook up its presidential primary schedule in 2024, placing South Carolina out in front. State leaders want to keep it that way in 2028. More South Carolina: Rep. Ralph Norman, R-S.C., a member of the Freedom Caucus, announced he is running for governor, looking to succeed GOP Gov. Henry McMaster. As Israel announces a 'tactical pause' in fighting, Sen. Lindsey Graham says there's no way to negotiate with Hamas Israel announced it was pausing fighting in some areas of the Gaza Strip to facilitate aid delivery after international outrage swelled in recent days over surging deaths by malnutrition and widespread starvation caused by Israeli restrictions on humanitarian aid. The announcement issued by the Israel Defense Forces said it would be implementing 'humanitarian corridors' for the safe movement of United Nations aid trucks and 'humanitarian pauses' in some of Gaza's most densely populated areas. Meanwhile, Sen. Lindsey Graham, R-S.C., said in an interview on NBC News' 'Meet the Press' that he believes there is no way for Israel to safely negotiate an end to the war with Hamas and that Israel would take over Gaza, comparing the move to U.S. actions at the end of World War II. 'They're going to do in Gaza what we did in Tokyo and Berlin, take the place by force and start over again, presenting a better future for the Palestinians, hopefully having the Arabs take over the West Bank and Gaza,' he later added. How armed gangs are hunting the internet's high rollers As the price of bitcoin rises, criminals are increasingly reaching beyond cyberspace, with a growing number of real-life kidnappings aiming to empty people's crypto wallets. Crypto-related abductions increased every year since 2019, an NBC News analysis found, with a review of news reports and legal documents identifying 67 incidents of crypto kidnapping in 44 countries involving a target or their family member. Muhammad Arsalan, a 23-year-old crypto influencer from Pakistan, was forced to surrender $340,000 worth of tether when he was kidnapped and held at gunpoint in December. 'I had no options left. This is my whole life savings. This is all my life's money,' Arsalan said. Food manufacturers across the U.S., big and small, are facing hurdles as they seek to phase out synthetic food dyes. Kraft Heinz, Nestle, General Mills and major ice cream makers have all recently vowed to shift to natural coloring amid the Trump administration's push to eliminate artificial dyes from the country's food supply, as well as a broader movement by states to ban them because of safety concerns. The transition presents challenges for food companies in developing reliable, cost-effective natural dyes, which are generally more expensive and difficult to make, requiring higher concentrations to achieve the same hue. The shift has also raised questions about the long-term impact of natural dyes on consumers' health. The Texas-based Atkinson Candy Company, which makes the Chick-O-Stick candy bar, is among smaller manufacturers struggling to maintain a distinctive hue while phasing out synthetic food dyes. 'They say in the industry that taste is king, but color is queen,' CEO Eric Atkinson explained. 'The queen is very important.' Notable quote The former senior CIA officer who helped oversee the intelligence assessment on Russia's interference in the 2016 election told NBC News that Director of National Intelligence Tulsi Gabbard and the White House are 'lying' when they claim that it was an attempt to sabotage Trump. In case you missed it Michigan officials are seeking a terrorism charge in addition to 11 counts of assault with intent to murder against a man who allegedly stabbed nearly a dozen people at a Walmart in what they described as a seemingly random attack. 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Miami Herald
13 hours ago
- Miami Herald
Medicare and hospice scams are on the rise
Medicare and hospice scams are on the rise. In a rare show of bipartisanship, the U.S. House of Representatives unanimously passed the Senior Security Act - a bill aimed squarely at protecting older Americans from financial scams. Championed by Rep. Josh Gottheimer (D-N.J.), the bill would establish a Senior Investor Task Force within the Securities and Exchange Commission. Its job? Don't miss the move: SIGN UP for TheStreet's FREE daily newsletter To identify and address the risks older investors face - from outright fraud and financial exploitation to the more subtle threats tied to cognitive decline. Image source: Chaozzy Lin on Unsplash The Senior Investor Task Force is long overdue. For years, advocates have called for stronger investor protections for seniors, and this legislation delivers. Here's what it would do: Identify challenges that senior investors face navigating the financial systemRecommend changes to SEC rules or those of self-regulatory organizations to better protect seniorsCoordinate efforts with other SEC offices, the Elder Justice Coordinating Council, and other relevant agenciesCollaborate with state securities regulators, law enforcement, and insurance departments Related: Retired workers to see frustrating change to Medicare in 2026 The task force would also deliver a biennial report to Congress, summarizing: Trends and innovations reshaping the investing landscape for older AmericansRegulatory and industry practices that impact senior investorsKey observations from enforcement actions and investor education effortsThe most serious issues confronting senior investorsRecommendations for changes in regulation, guidance or legislation For retirees trying to safeguard their nest eggs - and for the advisers who help them - this is an important step toward turning concern into real protection. In 2024, Americans reported a record-shattering $16.6 billion in losses to the FBI's Internet Crime Complaint Center - a 33% increase over 2023. According to the 2024 IC3 Annual Report, IC3 received 859,532 complaints - more than 2,000 a day. A staggering 83% of those losses were tied to cyber-enabled fraud. Older adults were hit especially hard. Those aged 60 and older reported $4.9 billion in losses - a 43% jump from the previous year. They filed 147,127 complaints, up 46%. Among seniors who lost more than $100,000, the average loss was $83,000 - a life-altering amount for most. That's why efforts like the Senior Security Act - and public education campaigns about scams - are more important than ever. Speaking of public education campaigns, the Centers for Medicare & Medicaid Services (CMS) just issued a warning to beneficiaries about a disturbing new scam: fraudsters posing as salespeople offering "free" services or gifts in order to enroll unsuspecting seniors in hospice care - without their knowledge or need. In a July 16 fraud alert, CMS outlined how the scam works: Scammers contact you via text, phone, email, fake ads - or even knock on your offer "free" perks like cooking, cleaning, groceries, or medical return, they ask for your Medicare number and a use that information to enroll you in hospice care, allowing them to bill Medicare fraudulently. Related: Millions of Medicare beneficiaries could see major price shock Hospice care, CMS noted, is for individuals who are terminally ill and should only be considered after discussions with a person's doctor. Enrolling without medical necessity could jeopardize their future Medicare coverage. CMS Administrator Dr. Mehmet Oz issued a video message warning Medicare beneficiaries to stay alert for such scams and to guard their Medicare numbers carefully. The Federal Trade Commission is also sounding the alarm. In a recent post, FTC consumer education specialist Kira Krown also warned that scammers are luring older adults into fraudulent hospice enrollment by offering free services like housekeeping or gift cards. "What they likely won't tell you is how," Krown wrote. "They want to commit fraud by signing you up for Medicare hospice - that's right, hospice - care. Then, they can bill Medicare for all kinds of services in your name. If you're signed up and don't need it, this could affect your Medicare coverage in the future. Anyone who tells you differently is a scammer." To protect yourself, the FTC recommends: Never share your Medicare number with anyone offering "free" sign up for hospice in exchange for perks like groceries, gift cards, or that Medicare will never send someone to your home to enroll you in services. If you suspect hospice fraud, call 1-800-MEDICARE (1-800-633-4227) or file a report at You can also reach out to your local Senior Medicare Patrol (SMP) for assistance. What to do with Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
16 hours ago
- Yahoo
Centene Second Quarter 2025 Earnings: Revenues Beat Expectations, EPS Lags
Centene (NYSE:CNC) Second Quarter 2025 Results Key Financial Results Revenue: US$48.7b (up 34% from 2Q 2024). Net loss: US$253.0m (down by 122% from US$1.15b profit in 2Q 2024). US$0.51 loss per share (down from US$2.16 profit in 2Q 2024). Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. All figures shown in the chart above are for the trailing 12 month (TTM) period Centene Revenues Beat Expectations, EPS Falls Short Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) missed analyst estimates. Looking ahead, revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Healthcare industry in the US. Performance of the American Healthcare industry. The company's shares are up 1.6% from a week ago. Risk Analysis Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Centene that you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
