Read the report from your broker or on CNET… people were fired to help fund a 773 million dollar stock buyback in Q3 2023.
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"We’re in a recession, whether Joe B wants to admit it or not. Companies can look financially sound but the market still gets crushed by equity trading houses."
The market is getting hit right now because higher interest rates are making bonds, T-Bills and CDs more attractive. Get a guaranteed 5%-6% vs speculative risk. While interest rates were low guaranteed returns were near 0. People are locking in income...then there's the whole market was grossly overvalued so there has been the expectation by many that a correction was inevitable.
This is laughable - the only thing they are focused on is how big they can make their purse.
"The transaction reflects Centene's continued execution of its value creation efforts as the company refocuses its portfolio on core lines of business."
Is Centene preparing for more sell offs starting with their overseas companies? ST. LOUIS, Aug. 28, 2023 /PRNewswire/ -- Centene Corporation (NYSE: CNC), a leading healthcare enterprise committed to helping people live healthier lives, announced today that it has signed a definitive agreement to sell Circle Health Group ("Circle Health"), one of the U.K.'s largest independent operators of hospitals, to PureHealth, the largest integrated healthcare network in the Middle East. The transaction reflects Centene's continued execution of its value creation efforts as the company refocuses its portfolio on core lines of business. The enterprise value is approximately $1.2B, inclusive of debt assumed
- 7B YTD I think like ~27M just in October.
It was certainly a poor use of dollars to buy Centene stock. Maybe invest in IT infrastructure and in your people instead. The stock price will actually go up if you do that.
We’re in a recession, whether Joe B wants to admit it or not. Companies can look financially sound but the market still gets crushed by equity trading houses.
Double beat on both EPS and revenue, raises full year guidance and yet the stock is down 5% since they reported earnings tuesday. I wonder how management feels?