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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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  1. Great article and post scripts by Mike L (Great addition to IBJ BTW). Bobby's stubborn as a mule, and doubt if he ever comes back to IU. But the love he would receive would be enormous. Hope he shows some time, but not counting on it.

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  4. Jim, your "misleading" numbers comment is spot on. This is the spin these posers are putting on it. News flash, fans: these guys lie. They are not publicly traded so no one holds them accountable for anything they say. The TV numbers are so miniscule to begin with any "increase" produces double digit "growth" numbers. It's ridiculous to think that anything these guys have done has awakened the marketplace. What have they done? Consolidate the season so they run more races on consecutive weekends? And this creates "momentum." Is that the same momentum you enjoy when you don't race between August and March? Keep in mind that you are running teams who barely make ends meet ragged over the summer to accomplish this brilliant strategy of avoiding the NFL while you run your season finale at midnight on the East Coast. But I should not obfuscate my own point: any "ratings increase" is exactly what Jim points to - the increased availability of NBC Sports in households. Look fans, I love the sport to but these posers are running it off a cliff. Miles wants to declare victory and then run for Mayor. I could go on and on but bottom line for God's sake don't believe a word they say. Note to Anthony - try doing just a little research instead of reporting what these pretenders say and then offering an "opinion" no more informed than the average fan.

  5. If he's finally planning to do the right thing and resign, why not do it before the election? Waiting until after means what - s special election at tax payer expense? Appointment (by whom?) thus robbing the voters of their chance to choose? Does he accrue some additional financial advantage to waiting, like extra pension payments? What's in it for him? That's the question that needs to be asked.

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