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Insurance stocks sink, hospital shares rise after ruling

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Stocks of hospital companies rose sharply and insurance companies fell Thursday after the Supreme Court upheld a requirement that almost all Americans carry health insurance.

The stock of Hospital Corp. of America, the largest private hospital chain in the United States, rose 8.5 percent. Quest Diagnostics rose almost 3 percent.

Insurance companies were down sharply as analysts rushed to sort out the ruling. Shares of Indianapolis-based insurer WellPoint Inc. were down more than 5 percent after the ruling was announced, to $65.51 each.

UnitedHealth Group stock fell almost 3 percent.

The broader stock market was down a little more than 1 percent.

Chief Justice John Roberts, in a break with other conservative justices on the high court, sided with the majority in allowing the law to go forward with its aim of covering more than 30 million uninsured Americans.

Stocks of the largest drug companies in the country were down but not heavily, in line with the broader market. Shares of Indianapolis-based Eli Lilly and Co. were down about 1 percent, to $41.45 each.

Stocks of medical device makers were also down about the same as the broader market.

The court found problems with the law's expansion of Medicaid, but said the expansion could proceed under certain conditions.

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  • Get your stock reports updated!!!!
    BTW, please save your stock reports for end of day updates. UnitedHealth Group stocks actually went up, not down, for the end-of-day profits, and is looking at year's high.
  • Don't worry, Charlie
    Mitch Daniels will be leaving in November. :-D
  • Please
    Please get this moron out of office in November.

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  3. "This was a very localized, Indiana issue," he said. As in, Indiana failed to expand Medicaid to cover its poor citizens resulting in the loss of essential medical services, including this EMS company. Well done, Indiana GOP. Here are the real death panels: GOP state governments who refuse to expand Medicaid for political reasons.

  4. In the "one for all, all for none" socialist doctrine the sick die...this plus obama"care" equates to caucasian genocide plus pushed flight to cities thus further eroding the conservative base and the continualed spiral toward complete liberal/progressive/marxist America.

  5. There is a simple reason why WISH is not reporting on this story. LIN has others stations in different markets that are affiliated with CBS. Reporting about CBS blindsiding WISH/LIN due to CBS's greed and bullying tatics would risk any future negoations LIN will have with CBS in other markets.

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