Why Molina Healthcare Stock Rocketed 14% Higher Today
Molina Healthcare (NYSE: MOH) was one of the healthier stocks on the exchange on Thursday. Investors were obviously impressed by the specialized insurer's quarterly results, published just after market close the day before. They collectively piled into the stock, boosting it by 14%.
This, despite Molina's first-quarter revenue slumping 3% year over year to just under $10.8 billion. The company suffered a steeper decline in profitability, with net income not under generally accepted accounting practices (GAAP) falling to $120 million ($2.35 per share) from the year-ago profit of $333 million.
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Source Fool.com
