The first one to discuss is Centene Corp (NYSE:CNC), whose shares dropped by more than 9% Friday following the insurer stated it would be unable to meet 2012 per-share earnings outlooks by as much as 85% because ofgreater medical costs.
Centene, which specializes in Medicaid coverage, announced that it currentlyassumes earnings of around 10 cents to 20 cents per share, lower from its prior forecast of 56 cents to 66 cents per share.
Further, the firmstated it currentlyforecasts earnings of $2.60 to $2.90 per share for 2013. Analysts surveyed by FactSet had anticipated, on average, earnings in the high end of that range at around $2.84 per share before the declaration.[article_detail_ad_1]
Second report is of VeriFone Systems Inc(NYSE:PAY).The company announced earnings on December 13.
For the quarter closed October 31, VeriFone Systems marginallymissed on revenues and met outlooks on earnings per share.
Compared to the same quarterprevious-year, revenue grewconsiderably and GAAP earnings per share slipped significantly. Gross margins increased, operating margins grew, net margins slipped.
VeriFone Systems announcedsales of $485.4 million. The 12 analysts interviewed by S&P Capital IQ projected revenue of $495.2 million on the similar basis. GAAP announced sales were 18% higher than the previous-year quarter’s $410.7 million.
Lastly, we will talk about Adobe Systems Incorporated(NASDAQ:ADBE)’s earnings report. The company’s fiscal Q4 earnings increased 28% as subscription for creative services grew ahead of anticipations, overhead charges came in lower and the year-ago period comprised restructuring costs.
For the quarter closed November 30, Adobe posted a profit of $222.3 million, or 44 cents per share, higher from $173.7 million, or 35 cents per share, a year before.
Exclusive of stock-based compensation, prior-year restructuring charges and other items, revised earnings dropped to 61 cents from 67 cents. Revenue addedalmost 0.1% to $1.15 billion.