Health Net Inc. (HNT: Quote) reported second quarter net income of $1.48 per share Friday morning, compared to $0.63 per share in the prior year. The consensus estimate was for EPS of $0.66. The company also reduced its full year earnings forecast to between $1.45 and $1.55 per share, compared to its prior guidance of $2.85 to $3.00 per share.
Health Net gapped open sharply lower Friday, but recovered some ground around mid-morning. The stock closed down by 4.34 at $18.36 on the highest volume of the year. Health Net dropped below a week and a half long range and set a new low for the year.
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by RTT Staff Writer
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