Stock Market Today: Dow Rises Nearly 200 Points as Debt Ceiling Deal in Focus

They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

• Molina Healthcare saw a increase in short interest in April.
• Treasury yield ticked higher to 3.564%, from 3.548% Tuesday.
• The company expects adjusted EBITDA for the year to come in between $216 million and $222 million, while analysts anticipate $215.7 million.
• The firm was established back in 1980 and is headquartered in Long Beach, California.

Target stock is rising, recently up 2.2%, even after the retailer said sales growth stalled and profit fell in the most recent quarter. Shares of Western Alliance jumped about 7% in extended trading after the bank said that its deposit growth for the current quarter surpassed $2 billion as of May 12. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer. The company is scheduled to release its next quarterly earnings announcement on Wednesday, July 26th 2023.

The health insurer has grown tremendously in recent years. Get this delivered to your inbox, and more info about our products and services. S&P Dow Jones Indices said late Friday that Molina Healthcare Inc. will join the S&P 500 index , replacing IHS Markit Ltd , which is being acquired by S&P Global Inc. , an S&P 500 constituent.

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Stocks are higher in Wednesday afternoon trading, putting major indexes on track to recover after falling Tuesday, as the deadline nears for lawmakers to resolve the debt-ceiling standoff. Indexes in China fell, while Japan’s Nikkei 225 gained 0.8% to top for the first time since 2021. Stocks are higher in Wednesday afternoon trading after falling Tuesday, as the deadline nears for lawmakers to resolve the debt-ceiling standoff. The Dow ended the trading session below a key threshold on Tuesday.

We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. MOH earnings call for the period ending December 31, 2020. MOH earnings call for the period ending September 30, 2021.

Provides a general description of the business conducted by this company. While the top- and bottom-line numbers for Molina (MOH) give a sense of how the business performed in the quarter ended March 2023, it could be worth looking at how some of its key metrics compare to Wall… Molina Healthcare’s (MOH) Q1 results reflect strong performance in the Medicaid and Medicare segments. Meanwhile, the elevated expense level partially offset the positives.

Molina Healthcare Inc

A health insurer and a hard-surface flooring retailer each have market-beating potential. The 10-year Treasury yield actually declined after U.S. government’s credit-rating downgrade in 2011. Indexes in China fell, while Japan’s Nikkei 225 gained 0.8% to top for the first time since 2021.

Management estimates EPS of $4.64-$4.77 for this year, higher than the earlier mentioned $4.60-$4.74. One share of MOH stock can currently be purchased for approximately $288.29. 170 employees have rated Molina Healthcare Chief Executive Officer Joseph Zubretsky on Glassdoor.com.

“Now we have a structure to find a way to come to a conclusion,” McCarthy told CNBC’s “Squawk Box” on Wednesday. “I think at the end of the day we do not have a debt default. I think we finally got the president to agree to negotiate.” Nothing on this website should be considered personalized financial advice. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes.

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Both of those estimates were below consensus expectations, with analysts polled by FactSet anticipating revenue at $11.8 million and adjusted EBITDA at $45.4 million. Regional bank shares rebounded on Wednesday, helping market sentiment, as Western Alliance Bancorp detailed improving deposit growth. The SPDR S&P Regional Bank ETF jumped 3.4%, while Western Alliance soared 12%.

For the current quarter, the company said to expected between $2 and $2.06 in earnings per share for the current quarter, while analysts forecasted $1.96. Keysight guided revenue for the quarter to come in between $1.37 billion and $1.39 billion, a range that contains Wall Street’s consensus estimate of $1.38 billion. The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals.

Home prices in China fell, with prices 0.2% lower year-on-year, compared to a 0.8% decline seen in the previous month, according to Reuters’ calculations. Traders at JPMorgan expect the market to remain in a tight trading range as lawmakers try to reach a deal on the U.S. debt ceiling. The firm now rates Wynn Resorts stock as overweight with 31% upside compared to current trading levels. Barclays also highlighted the company’s performance in its Las Vegas properties. Barclays upgraded Wynn Resorts stock on Tuesday, and cited the company’s continued performance in Macau as a driver for growth. During the meeting, Musk teased new Tesla products, while also reiterating plans to roll out the first Cybertrucks this year.

Molina also provides plans through health insurance exchanges. Citigroup’s decision to raise its stake in shares of Molina Healthcare could be interpreted as confidence in the future growth prospects of the business and its ability to meet short-term objectives effectively. This expectation could stem from recent developments within the healthcare industry that suggest an increasing demand for accessible health services. We sell different types of products and services to both investment professionals and individual investors.

Western Alliance said its deposits grew by more than $2 billion so far this quarter. Its shares gained, along with those of PacWest, Comerica and Zions. For the full fiscal year, the company said to expect between $500 million and $506 million in revenue, a range that contains the Wall Street estimate of $501.8 million. The company expects adjusted EBITDA for the year to come in between $216 million and $222 million, while analysts anticipate $215.7 million. Western Alliance shares have been on a recent upswing, up 17% over the past week – and posting a gain of 15% since this week has begun.

Meanwhile, regional-bank shares are jumping after Western Alliance—a lender investors have worried about—gave a positive update on deposit growth. The 50-day moving average is a short-term technical indicator of where an asset or an index is trading. A close below that level may signal a potential change toward the downside.

“While McCarthy said a deal is possible by end of this week, the timeline may be by the end of next week ahead of the Memorial Day,” JPMorgan traders wrote. “With that in mind, Equities may trade in a tight range until an outcome is observed with the biggest downside risk coming if we enter Memorial Day weekend without a solution, given the early June x-date.” The comments come a day after President Joe Biden met with top congressional leaders to try to find a way around the debt impasse. McCarthy said the talks resulted in a “structure” to find a solution while noting that the deadline remains “tight” as Republicans look for spending cuts and Democrats seek a clean bill not tied to conditions. “I think at the end of the day we do not have a debt default,” he said on CNBC’s “Squawk Box.” “I think we finally got the president to agree to negotiate.” Analysts think regional bank Western Alliance can continue to rebound as deposits at the bank grow.

Keysight rises on stronger-than-expected earnings

Tech stock Keysight advanced more than 7% after the bell on the back of a strong quarterly earnings report and guidance for the current quarter. Of the 11 S&P 500 sectors, only health care, consumer staples and utilities were trading in negative territory during midday trading. Concerns over a potential default has weighed on markets recently. The Dow is down more than 3% this month, including a 1% decline on Tuesday. We are a financial media dedicated to providing stock recommendations, news, and real-time stock prices.

• Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes.
• After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study.
• The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals.
• On a year-on-year basis however, non-oil domestic exports fell 9.8%, more than the economists’ expectations of 9.4%.
• Tech stock Keysight advanced more than 7% after the bell on the back of a strong quarterly earnings report and guidance for the current quarter.

Although the share price has dipped slightly over the past week it remains highly rated as investors and institutions alike continue to show faith in this unique provider of health care services. Molina Healthcare, Inc. continues to make waves in the healthcare industry with its provision of health care services that serve the Medicaid, Medicare, Marketplace and Other segments. The firm was established back in 1980 and is headquartered in Long Beach, California. With a market cap of $17.08 billion, the business has successfully attracted the interest of institutional investors and hedge funds. Overall Bloomberg shows consensus amongst analysts that MOH stocks are rated “Moderate Buy”, attaining one sell rating, four holds, while five analysts have issued a buy rating and one analyst has given a strong buy rating. High-growth stocks tend to represent the technology, healthcare, and communications sectors.

Strong Buy

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Furthermore, despite Citigroup’s increased stake in Molina Healthcare, there has been a sale of shares by Director Daniel Cooperman earlier this year. It was disclosed that he had sold approximately 5,000 shares with a total value of $1,383,850 as part of regular buy-and-sell transactions for business insiders. The Barchart Technical Opinion rating is a 40% Sell with a Weakest short term outlook on maintaining the current direction. The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. MOH’s beta can be found in Trading Information at the top of this page. A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

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Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. This health insurer has outperformed the market for three straight years. This health insurer parlayed a moderate investment amount into a $1 million fortune over the last 20 years.

Treasury yield ticked higher to 3.564%, from 3.548% Tuesday. The new data was in an investor update filed with the Securities and Exchange Commission on Tuesday. Quad leaders will not be going ahead with their meeting in Sydney next week, Australia’s prime minister Anthony Albanese said, according to Reuters. Singapore’s total trade fell to SG$100.3 billion in April, a 18.8% year-on-year drop and extending the 8.6% decrease in March.

Investors should note that while the precise impact of these moves may not be clear immediately, they are certainly reasons for those with stakeholding interests to watch this company carefully in future. Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world’s media organizations, industry events and directly to consumers. Meanwhile, regional-bank shares are jumping after Western Alliance–a lender investors have worried about–gave a positive update on deposit growth.