Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children's health insurance program, foster care, medicare-medicaid plans, long-term services and support. This segment also provides healthcare products. The Medicare segment offers special needs and medicare supplement, and prescription drug plans. The Commercial segment provides health insurance marketplace product for individual, small, and large group commercials. It also operates clinical healthcare and pharmacies, as well as offers dental and speech therapy services. In addition, the company engages in the government contracts business under the TRICARE program and other healthcare related government contracts. It provides services through primary and specialty care physicians, hospitals, and ancillary providers. Centene Corporation was founded in 1984 and is headquartered in Saint Louis, Missouri.

Centene Corporation

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the First Trust Active Factor Large Cap ETF (Symbol: AFLG), we found that the implied analyst target price for the ETF based upon its underlying holdings is $43.41 per unit.
With AFLG trading at a recent price near $39.50 per unit, that means that analysts see 9.90% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of AFLG's underlying holdings with notable upside to their analyst target prices are Enphase Energy Inc. (Symbol: ENPH), DXC Technology Co (Symbol: DXC), and Centene Corp (Symbol: CNC). Although ENPH has traded at a recent price of $36.81/share, the average analyst target is 12.36% higher at $41.36/share. Similarly, DXC has 11.69% upside from the recent share price of $13.43 if the average analyst target price of $15.00/share is reached, and analysts on average are expecting CNC to reach a target price of $36.59/share, which is 10.37% above the recent price of $33.15. Below is a twelve month price history chart comparing the stock performance of ENPH, DXC, and CNC:
Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
First Trust Active Factor Large Cap ETF
AFLG
$39.50
$43.41
9.90%
Enphase Energy Inc.
ENPH
$36.81
$41.36
12.36%
DXC Technology Co
DXC
$13.43
$15.00
11.69%
Centene Corp
CNC
$33.15
$36.59
10.37%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
Also see:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

We Did The Math AFLG Can Go To $43

Healthcare plan provider Centene Corporation CNC is set to report third-quarter 2025 results on Oct. 29, 2025, before the opening bell. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings is currently pegged at a loss of 21 cents per shareon revenues of $47.62 billion.
The third-quarter earnings estimate remained stable over the past 60 days. The bottom-line projection indicates a year-over-year plunge of 113%. However, the Zacks Consensus Estimate for quarterly revenues suggests a year-over-year growth of 13.3%.
Image Source: Zacks Investment Research
For 2025, the Zacks Consensus Estimate for Centene’s revenues is pegged at $190.45 billion, implying a rise of 16.8% year over year. The consensus mark for 2025 EPS is pegged at $1.69, implying a decrease of 76.4%, year over year.
Centenebeat the earnings estimates in three of the last four quarters and missed once, with the average surprise being negative 5.2%. This is depicted in the figure below.
Centene Corporation Price and EPS Surprise
Q3 Earnings Whispers for Centene
Our proven model does not conclusively predict an earnings beat for the company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. That’s not the case here.
CNC has an Earnings ESP of 0.00% and a Zacks Rank #5 (Strong Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
What’s Shaping Centene’s Q3 Results?
The Zacks Consensus Estimate for the company’s total commercial memberships indicates a 26.6% year-over-year increase, whereas our model estimate predicts a 23.1% growth, primarily due to growth in the commercial marketplace. Both the consensus estimate and our model estimate for Medicare PDP memberships signal nearly 17% growth from the year-ago quarter.
The Zacks Consensus Estimate projects the company’s premium growth at about 19% year over year, in line with our model forecasts. This is likely to have supported top-line growth in the to-be-reported quarter.
However, the Zacks Consensus Estimate for total membership indicates a 2.2% year-over-year decline, due to decreases in Medicaid and Medicare memberships. Both the consensus estimate and our model estimate for the company’s total Medicaid memberships indicate a nearly 2% decline from a year ago.
The consensus estimate for service revenues indicates a 7.2% fall from the year-ago quarter’s $784 million. Also, the Zacks Consensus Estimate for the company’s investment and other income indicates an 11.7% year-over-year decline from $432 million.
Moreover, following the industry trend, CNC’s medical costs are expected to have remained elevated in the third quarter. The Zacks Consensus Estimate for the total health benefits ratio is pegged at 93%, up from 89.2% in the year-ago period, meaning a reduced portion of premiums remaining in hand after paying claims. Our model estimate for total operating expenses indicates more than a 15% increase in the third quarter. These are expected to have affected the bottom line, making an earnings beat uncertain.
Stocks That Warrant a Look
While an earnings beat looks uncertain for Centene, here are some companies from the broader Medical space that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time around:
Select Medical Holdings Corporation SEM has an Earnings ESP of +8.58% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Select Medical’s bottom line for the to-be-reported quarter of 18 cents per share has witnessed one upward revision against no downward movement over the past month. The consensus mark for Select Medical’s revenues is pegged at $1.32 billion.
Erasca, Inc. ERAS has an Earnings ESP of +5.66% and a Zacks Rank of 2.
The Zacks Consensus Estimate for Erasca’s bottom line for the to-be-reported quarter remained stable over the past week. Erasca’s earnings beat estimates in three of the past four quarters and met once, with an average surprise of 13%.
Humana Inc. HUM has an Earnings ESP of +4.29% and a Zacks Rank of 2.
The Zacks Consensus Estimate for Humana’s bottom line for the to-be-reported quarter is pegged at $2.91 per share, which remained stable over the past week. Humana beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 9.6%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Can Centene's Q3 Earnings Escape Industry's Cost Headwinds?

The S&P 500 Index ($SPX) (SPY) on Thursday closed up +0.58%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.31%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.88%. December E-mini S&P futures (ESZ25) rose +0.58%, and December E-mini Nasdaq futures (NQZ25) rose up +0.90%.
Stock indexes settled higher on Thursday, led by strength in energy producers after WTI crude oil jumped more than +5% when the US blacklisted state-run Rosneft PJSC and Lukoil PJSC, Russia’s largest oil producers, which threatens to tighten global oil supplies. Also, Dow Inc. rose more than +12% after reporting stronger-than-expected Q3 adjusted operating Ebitda. In addition, Honeywell International rose by more than +6% after reporting better-than-expected Q3 sales.
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Stocks also found support on Thursday’s US economic news that showed Sep existing home sales rose +1.5% m/m to a 7-month high of 4.06 million, right on expectations.
Stocks added to their gains Thursday afternoon as US-China trade tensions eased slightly when the White House confirmed that President Trump will meet directly with President Xi Jinping next Thursday on the sidelines of the Asia-Pacific Economic Cooperation summit in South Korea.
On the negative side, Molina Healthcare closed down more than -17% to lead health insurers lower after cutting its full-year adjusted EPS forecast. Also, Super Micro Computer (SMCI) closed down more than -8% after reporting weaker-than-expected Q1 preliminary sales.
Late Wednesday, the Trump administration announced sanctions on Rosneft PJSC and Lukoil PJSC, Russia’s biggest oil producers, due to “Russia’s lack of serious commitment to a peace process to end the war in Ukraine.” The new sanctions could bar foreign countries or companies from conducting business with the oil companies and cut them off from much of the international financial system.
The markets are focusing on progress in US-China trade talks, as President Trump reiterated his threat on Monday to boost tariffs on Chinese goods “if there isn’t a deal” by November 1. President Trump is scheduled to meet Chinese President Xi Jinping next Thursday on the sidelines of the Asia-Pacific Economic Cooperation conference in South Korea.
The US government shutdown continues into its fourth week, weighing on market sentiment and delaying key economic reports. The government shutdown is delaying the release of government reports, including the last four weeks of weekly initial unemployment claims and the September payroll report. The Bureau of Labor Statistics (BLS) said the September consumer price report, which was initially scheduled to be released last Wednesday, will be released this Friday. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don’t align with President Trump’s priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season continues. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 85% of the S&P 500 companies that have reported so far have beaten forecasts, on course for the best quarter since 2021. Also, more than 22% of companies in the S&P 500 that have provided guidance for their Q3 earnings results are expected to beat analysts’ expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 99% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 closed up +0.52%. China’s Shanghai Composite closed up +0.22%. Japan’s Nikkei Stock 225 closed down -1.35%.
Interest Rates
December 10-year T-notes (ZNZ5) on Thursday closed down -10 ticks. The 10-year T-note yield rose +4.4 bp to 3.993%. T-notes were under pressure on Thursday amid inflation concerns, as a +5% surge in WTI crude oil prices boosted inflation expectations and pushed the 10-year breakeven inflation rate to a 1-week high of 2.31%. Also, Thursday’s rally in stocks curbed safe-haven demand for T-notes.
T-notes have ongoing support due to the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields moved higher on Thursday. The 10-year German bund yield rose +2.0 bp to 2.583%. The 10-year UK gilt yield rose +0.6 bp to 4.423%.
The Eurozone Oct consumer confidence indicator survey unexpectedly rose +0.7 to an 8-month high of -14.2, stronger than expectations of a decline to -15.0.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Energy stocks and energy service providers moved higher on Thursday after the price of WTI crude oil surged more than +5% to a 2-week high. APA Corp (APA) closed up more than +7% and Valero Energy (VLO) closed up more than +6%. Also, Diamondback Energy (FANG), Marathon Petroleum (MPC), Halliburton (HAL), Baker Hughes (BKR), Devon Energy (DVN), and Phillips 66 (PSX) closed up more than +3%. In addition, Occidental Petroleum (OXY) and ConocoPhillips (COP) closed up more than +2%.
Quantum-computing stocks rallied on Thursday after the Wall Street Journal reported that the firms are in talks to give the Commerce Department equity stakes in exchange for federal funding. As a result, IonQ (IONQ), Rigetti Computing (RGTI), D-Wave Quantum (QBTS), and Quantum Computing (QUBT) closed up more than +6%.
Molina Healthcare (MOH) closed down more than -17% to lead health insurers lower and losers in the S&P 500 after cutting its full-year adjusted EPS forecast to $14.00 from a previous estimate of $19.00, well below the consensus of $18.65. Also, Centene (CNC) closed down -5% and Oscar Health (OSCR) closed down more than -3%.
Dow Inc. (DOW) closed up more than +12% to lead gainers in the S&P 500 after reporting Q3 adjusted operating Ebitda of $868 million, well above the consensus of $759.7 million.
Las Vegas Sands (LVS) closed up more than +12% after reporting Q3 net revenue of $3.33 billion, above the consensus of $3.04 billion.
West Pharmaceutical Services (WST) closed up more than +10% after raising its full-year adjusted EPS estimate to $7.06-$7.11 from a previous forecast of $6.65-$6.85.
Dover Corp (DOV) closed up more than +8% after boosting its full-year adjusted EPS continuing operations estimate to $9.50-$9.60 from a previous estimate of $9.35-$9.55.
Honeywell International (HON) closed up more than +6% to lead gainers in the Dow Jones Industrials and Nasdaq 100 after reporting Q3 sales of $10.41 billion, stronger than the consensus of $10.15 billion.
TransUnion (TRU) closed up more than +3% after reporting Q3 adjusted EPS of $1.10, better than the consensus of $1.05.
Trucking companies moved lower Thursday, led by a -7% fall in Knight-Swift Transportation (KNX) after it forecasted Q4 adjusted EPS of 34 cents to 40 cents, the midpoint below the consensus of 39 cents. Saia Inc (SAIA) closed down more than -5% on the news, and Schneider National (SNDR) and Old Dominion Freight Line (ODFL) closed down more than -3%.
Super Micro Computer (SMCI) closed down more than -8% after reporting Q1 preliminary sales of $5.00 billion, well below the consensus of $6.49 billion.
Southwest Airlines (LUV) closed down by more than -6% after reporting Q3 operating revenue of $6.90 billion, below the consensus of $6.92 billion.
Roper Technologies (ROP) closed down more than -5% to lead losers in the Nasdaq 100 after forecasting Q4 adjusted EPS from continuing operations $5.11 to $5.16, weaker than the consensus of $5.24.
T-Mobile US (TMUS) closed down more than -3% after reporting Q3 revenue of $21.96 billion, weaker than the consensus of $21.98 billion.
Moderna (MRNA) closed down more than -2% after saying its vaccine to prevent cytomegalovirus, a common cause of birth defects, failed to meet its goal in a late-stage trial.
Earnings Reports(10/24/2025)
Booz Allen Hamilton Holding Co (BAH), First Hawaiian Inc (FHB), General Dynamics Corp (GD), Gentex Corp (GNTX), HCA Healthcare Inc (HCA), Illinois Tool Works Inc (ITW), Procter & Gamble Co/The (PG).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Rally on Strength in Energy Shares and US-China Trade Hopes

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Centene Corp (Symbol: CNC), where a total volume of 143,075 contracts has been traded thus far today, a contract volume which is representative of approximately 14.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 147.6% of CNC's average daily trading volume over the past month, of 9.7 million shares. Especially high volume was seen for the $32.50 strike put option expiring October 31, 2025, with 25,103 contracts trading so far today, representing approximately 2.5 million underlying shares of CNC. Below is a chart showing CNC's trailing twelve month trading history, with the $32.50 strike highlighted in orange:
Super Micro Computer Inc (Symbol: SMCI) options are showing a volume of 347,299 contracts thus far today. That number of contracts represents approximately 34.7 million underlying shares, working out to a sizeable 110.1% of SMCI's average daily trading volume over the past month, of 31.6 million shares. Particularly high volume was seen for the $56 strike call option expiring October 24, 2025, with 13,312 contracts trading so far today, representing approximately 1.3 million underlying shares of SMCI. Below is a chart showing SMCI's trailing twelve month trading history, with the $56 strike highlighted in orange:
And Honeywell International Inc (Symbol: HON) options are showing a volume of 36,261 contracts thus far today. That number of contracts represents approximately 3.6 million underlying shares, working out to a sizeable 88.2% of HON's average daily trading volume over the past month, of 4.1 million shares. Particularly high volume was seen for the $230 strike call option expiring January 16, 2026, with 5,056 contracts trading so far today, representing approximately 505,600 underlying shares of HON. Below is a chart showing HON's trailing twelve month trading history, with the $230 strike highlighted in orange:
For the various different available expirations for CNC options, SMCI options, or HON options, visit StockOptionsChannel.com.
Also see:
WIT Historical Stock Prices
Institutional Holders of PBFB
FFCH Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Thursday Option Activity: CNC, SMCI, HON

The S&P 500 Index ($SPX) (SPY) today is up +0.38%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.12%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.61%. December E-mini S&P futures (ESZ25) are up +0.34%, and December E-mini Nasdaq futures (NQZ25) are up +0.59%.
Stock indexes are moving higher today, led by strength in energy producers after WTI crude oil jumped more than +5% when the US blacklisted state-run Rosneft PJSC and Lukoil PJSC, Russia’s largest oil producers, which threatens to tighten global oil supplies. Also, Dow Inc. is up more than +8% after reporting stronger-than-expected Q3 adjusted operating Ebitda. In addition, Honeywell International is up more than +7% after reporting better-than-expected Q3 sales.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks also found support on today’s US economic news that showed Sep existing home sales rose +1.5% m/m to a 7-month high of 4.06 million, right on expectations.
On the negative side, Molina Healthcare is down more than -20% to lead health insurers lower after cutting its full-year adjusted EPS forecast. Also, International Business Machines is down more than -4% after reporting a smaller-than-expected increase in its Q3 hybrid cloud unit. In addition, Tesla is down more than -3% after reporting Q3 EPS below consensus.
Late Wednesday, the Trump administration announced sanctions on Rosneft PJSC and Lukoil PJSC, Russia’s biggest oil producers, due to “Russia’s lack of serious commitment to a peace process to end the war in Ukraine.” The new sanctions could bar foreign countries or companies from conducting business with the oil companies and cut them off from much of the international financial system.
The markets are focusing on progress in US-China trade talks, as President Trump reiterated his threat on Monday to boost tariffs on Chinese goods “if there isn’t a deal” by November 1. President Trump is scheduled to meet Chinese President Xi Jinping next week on the sidelines of the Asia-Pacific Economic Cooperation conference in South Korea.
The shutdown of the US government continues into its fourth week, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last four weeks of weekly initial unemployment claims and the September payroll report. The Bureau of Labor Statistics (BLS) said the September consumer price report, which was initially scheduled to be released last Wednesday, will be released this Friday. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don’t align with President Trump’s priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season continues. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 85% of the S&P 500 companies that have reported so far have beaten forecasts, on course for the best quarter since 2021. Also, more than 22% of companies in the S&P 500 that have provided guidance for their Q3 earnings results are expected to beat analysts’ expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 99% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.44%. China’s Shanghai Composite closed up +0.22%. Japan’s Nikkei Stock 225 closed down -1.35%.
Interest Rates
December 10-year T-notes (ZNZ5) today are down -7 ticks. The 10-year T-note yield is up +3.2 bp to 3.982%. T-notes are under pressure today amid inflation concerns, as a +5% surge in WTI crude oil prices has boosted inflation expectations and pushed the 10-year breakeven inflation rate to a 1-week high of 2.309%. Also, supply pressures are negative for T-notes as the Treasury will auction $26 billion of 5-year TIPS later today.
T-notes have ongoing support due to the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields are mixed today. The 10-year German bund yield is up +1.6 bp to 2.579%. The 10-year UK gilt yield is down -0.5 bp to 4.413%.
The Eurozone Oct consumer confidence indicator survey unexpectedly rose +0.7 to an 8-month high of -14.2, stronger than expectations of a decline to -15.0.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Energy stocks and energy service providers are climbing today, with the price of WTI crude oil up more than +5% at a 2-week high. Valero Energy (VLO) is up more than +7% and APA Corp (APA) is up more than +6%. Also, Diamondback Energy (FANG) is up more than +4%, and Marathon Petroleum (MPC) is up more than +3%. In addition, Devon Energy (DVN), Occidental Petroleum (OXY), ConocoPhillips (COP), Halliburton (HAL), Phillips 66 (PSX), and Baker Hughes (BKR) are up more than +2%.
Quantum-computing stocks are rallying today after the Wall Street Journal reported that the firms are in talks to give the Commerce Department equity stakes in exchange for federal funding. As a result, IonQ (IONQ), Rigetti Computing (RGTI), D-Wave Quantum (QBTS), and Quantum Computing (QUBT) are up more than +9%.
Molina Healthcare (MOH) is down more than -20% to lead health insurers lower and losers in the S&P 500 after cutting its full-year adjusted EPS forecast to $14.00 from a previous estimate of $19.00, well below the consensus of $18.65. Also, Centene (CNC) and Oscar Health (OSCR) are down more than -6%. In addition, United Health Services (UHS) and UnitedHealth Group (UNH) are down more than -1%.
Las Vegas Sands (LVS) is up more than +12% to lead gainers in the S&P 500 after reporting Q3 net revenue of $3.33 billion, above he consensus of $3.04 billion.
West Pharmaceutical Services (WST) is up more than +11% after raising its full-year adjusted EPS estimate to $7.06-$7.11 from a previous forecast of $6.65-$6.85.
Dow Inc. (DOW) is up more than +9% after reporting Q3 adjusted operating Ebitda of $868 million, well above the consensus of $759.7 million.
Honeywell International (HON) is up more than +6% to lead gainers in the Dow Jones Industrials and Nasdaq 100 after reporting Q3 sales of $10.41 billion, stronger than the consensus of $10.15 billion.
TransUnion (TRU) is up more than +3% after reporting Q3 adjusted EPS of $1.10, better than the consensus of $1.05.
CME Group (CME) is up more than +1% after Deutsche Bank upgraded the stock to buy from hold with a price target of $300.
Super Micro Computer (SMCI) is down more than -7% after reporting Q1 preliminary sales of $5.00 billion, well below the consensus of $6.49 billion.
Roper Technologies (ROP) is down more than -6% to lead losers in the Nasdaq 100 after forecasting Q4 adjusted EPS from continuing operations $5.11 to $5.16, weaker than the consensus of $5.24.
Southwest Airlines (LUV) is down by more than -6% after reporting Q3 operating revenue of $6.90 billion, below the consensus of $6.92 billion.
International Business Machines (IBM) is down more than -3% to lead losers in the Dow Jones Industrials after reporting a +14% increase in its Q3 hybrid cloud unit, below the consensus of +16%.
Tesla (TSLA) is down more than -2% after reporting Q3 EPS of 50 cents, weaker than the consensus of 54 cents.
T-Mobile US (TMUS) is down more than -3% after reporting Q3 revenue of $21.96 billion, weaker than the consensus of $21.98 billion.
Moderna (MRNA) is down more than -1% after saying its vaccine to prevent cytomegalovirus, a common cause of birth defects, failed to meet its goal in a late-stage trial.
Earnings Reports(10/23/2025)
Alaska Air Group Inc (ALK), Allegion plc (ALLE), American Airlines Group Inc (AAL), AutoNation Inc (AN), Baker Hughes Co (BKR), Blackstone Inc (BX), Boston Beer Co Inc/The (SAM), Boyd Gaming Corp (BYD), Brunswick Corp/DE (BC), Carpenter Technology Corp (CRS), CBRE Group Inc (CBRE), CenterPoint Energy Inc (CNP), Comfort Systems USA Inc (FIX), Darling Ingredients Inc (DAR), Deckers Outdoor Corp (DECK), Digital Realty Trust Inc (DLR), Dover Corp (DOV), Dow Inc (DOW), EastGroup Properties Inc (EGP), Euronet Worldwide Inc (EEFT), First Citizens BancShares Inc/ (FCNCA), Ford Motor Co (F), Freeport-McMoRan Inc (FCX), FTI Consulting Inc (FCN), Hasbro Inc (HAS), Healthpeak Properties Inc (DOC), Honeywell International Inc (HON), Intel Corp (INTC), Iridium Communications Inc (IRDM), Kinsale Capital Group Inc (KNSL), Lazard Inc (LAZ), Millrose Properties Inc (MRP), Mohawk Industries Inc (MHK), MSC Industrial Direct Co Inc (MSM), Newmont Corp (NEM), Norfolk Southern Corp (NSC), Old Republic International Cor (ORI), PG&E Corp (PCG), Pool Corp (POOL), Popular Inc (BPOP), Roper Technologies Inc (ROP), Ryder System Inc (R), SLM Corp (SLM), Spirit AeroSystems Holdings In (SPR), SS&C Technologies Holdings Inc (SSNC), TechnipFMC PLC (FTI), Textron Inc (TXT), T-Mobile US Inc (TMUS), Tractor Supply Co (TSCO), TransUnion (TRU), Union Pacific Corp (UNP), Valero Energy Corp (VLO), VeriSign Inc (VRSN), West Pharmaceutical Services Inc (WST), Western Union Co/The (WU).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Supported by Strength in Energy Producers and Earnings

The S&P 500 Index ($SPX) (SPY) today is up +0.32%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.33%. December E-mini S&P futures (ESZ25) are up +0.35%, and December E-mini Nasdaq futures (NQZ25) are up +0.35%.
Stock indexes are moving higher today, led by strength in energy producers after WTI crude oil jumped more than +5% when the US blacklisted state-run Rosneft PJSC and Lukoil PJSC, Russia's largest oil producers, which threatens to tighten global oil supplies. Also, Dow Inc. is up more than +11% after reporting stronger-than-expected Q3 adjusted operating Ebitda. In addition, Honeywell International is up more than +5% after reporting better-than-expected Q3 sales.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
On the negative side, Molina Healthcare is down more than -20% to lead health insurers lower after cutting its full-year adjusted EPS forecast. Also, International Business Machines is down more than -4% after reporting a smaller-than-expected increase in its Q3 hybrid cloud unit. In addition, Tesla is down more than -3% after reporting Q3 EPS below consensus.
Late Wednesday, the Trump administration announced sanctions on Rosneft PJSC and Lukoil PJSC, Russia's biggest oil producers, due to "Russia's lack of serious commitment to a peace process to end the war in Ukraine." The new sanctions could bar foreign countries or companies from conducting business with the oil companies and cut them off from much of the international financial system.
The markets are focusing on progress in US-China trade talks, as President Trump reiterated his threat on Monday to boost tariffs on Chinese goods "if there isn't a deal" by November 1. President Trump is scheduled to meet Chinese President Xi Jinping next week on the sidelines of the Asia-Pacific Economic Cooperation conference in South Korea.
The shutdown of the US government continues into its fourth week, weighing on market sentiment and delaying key economic reports. The government shutdown means delays in the release of government reports, including the last four weeks of weekly initial unemployment claims and the September payroll report. The Bureau of Labor Statistics (BLS) said the September consumer price report, which was initially scheduled to be released last Wednesday, will be released this Friday. The White House has warned that if the government shutdown lingers, it would trigger widespread dismissals of employees in government programs that don't align with President Trump's priorities. Bloomberg Economics estimates that 640,000 federal workers will be furloughed during the shutdown, which would expand jobless claims and push the unemployment rate up to 4.7%.
The markets this week will focus on earnings results as the Q3 earnings season continues. Rising corporate earnings expectations are a bullish backdrop for stocks. According to Bloomberg Intelligence, 85% of the S&P 500 companies that have reported so far have beaten forecasts, on course for the best quarter since 2021. Also, more than 22% of companies in the S&P 500 that have provided guidance for their Q3 earnings results are expected to beat analysts' expectations, the highest in a year. However, Q3 profits are expected to have risen by +7.2% y/y, the smallest increase in two years. Also, Q3 sales growth is projected to slow to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 99% chance of a -25 bp rate cut at the next FOMC meeting on Oct 28-29.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.17%. China's Shanghai Composite closed up +0.22%. Japan's Nikkei Stock 225 closed down -1.35%.
Interest Rates
December 10-year T-notes (ZNZ5) today are down -8 ticks. The 10-year T-note yield is up +3.4 bp to 3.984%. T-notes are under pressure today due to inflation concerns, as a +5% surge in WTI crude oil prices has boosted inflation expectations and pushed the 10-year breakeven inflation rate up to a 1-week high of 2.309%. Also, supply pressures are negative for T-notes as the Treasury will auction $26 billion of 5-year TIPS later today.
T-notes have ongoing support due to the ongoing US government shutdown, which could lead to additional job losses, reduced consumer spending, and a weakened US economy, potentially allowing the Fed to continue cutting interest rates.
European government bond yields are moving higher today. The 10-year German bund yield is up +1.6 bp to 2.579%. The 10-year UK gilt yield is up +0.8 bp to 4.425%.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on October 30.
US Stock Movers
Energy stocks and energy service providers are climbing today, with the price of WTI crude oil up more than +5% at a 2-week high. APA Corp (APA) is up more than +6% and Valero Energy (VLO) is up more than +5%. Also, Diamondback Energy (FANG) and Devon Energy (DVN) are up more than +4%, and Occidental Petroleum (OXY) and ConocoPhillips (COP) are up more than +3%. In addition, Halliburton (HAL), Phillips 66 (PSX), and Baker Hughes (BKR) are up more than +2%.
Quantum-computing stocks are rallying today after the Wall Street Journal reported that the firms are in talks to give the Commerce Department equity stakes in exchange for federal funding. As a result, IonQ (IONQ), Rigetti Computing (RGTI), D-Wave Quantum (QBTS), and Quantum Computing (QUBT) are up more than +6%.
Molina Healthcare (MOH) is down more than -20% to lead health insurers lower and losers in the S&P 500 after cutting its full-year adjusted EPS forecast to $14.00 from a previous estimate of $19.00, well below the consensus of $18.65. Also, Centene (CNC) and Oscar Health (OSCR) are down more than -7%. In addition, Humana (HUM) is down -2%, and Elevance Health (ELV), United Health Services (UHS), and UnitedHealth Group (UNH) are down more than -1%.
West Pharmaceutical Services (WST) is up more than +12% to lead gainers in the S&P 500 after raising its full-year adjusted EPS estimate to $7.06-$7.11 from a previous forecast of $6.65-$6.85.
Dow Inc. (DOW) is up more than +11% after reporting Q3 adjusted operating Ebitda of $868 million, well above the consensus of $759.7 million.
Las Vegas Sands (LVS) is up more than +9% after reporting Q3 net revenue of $3.33 billion, above he consensus of $3.04 billion.
Honeywell International (HON) is up more than +5% to lead gainers in the Dow Jones Industrials and Nasdaq 100 after reporting Q3 sales of $10.41 billion, stronger than the consensus of $10.15 billion.
TransUnion (TRU) is up more than +3% after reporting Q3 adjusted EPS of $1.10, better than the consensus of $1.05.
CME Group (CME) is up more than +1% after Deutsche Bank upgraded the stock to buy from hold with a price target of $300.
Roper Technologies (ROP) is down more than -7% to lead losers in the Nasdaq 100 after forecasting Q4 adjusted EPS from continuing operations $5.11 to $5.16, weaker than the consensus of $5.24.
International Business Machines (IBM) is down more than -4% to lead losers in the Dow Jones Industrials after reporting a +14% increase in its Q3 hybrid cloud unit, below the consensus of +16%.
Tesla (TSLA) is down more than -3% after reporting Q3 EPS of 50 cents, weaker than the consensus of 54 cents.
Southwest Airlines (LUV) is down by more than -3% after reporting Q3 operating revenue of $6.90 billion, below the consensus of $6.92 billion.
Tractor Supply Co (TSCO) is down more than -3% after narrowing its full-year comparable sales forecast to +1.4% to +2.4% from a previous forecast of 0% to +4.0%.
Packaging Corp (PKG) is down more than -1% after reporting Q3 adjusted EPS of $2.73, below the consensus of $2.82.
Moderna (MRNA) is down more than -4% after saying its vaccine to prevent cytomegalovirus, a common cause of birth defects, failed to meet its goal in a late-stage trial.
Earnings Reports(10/23/2025)
Alaska Air Group Inc (ALK), Allegion plc (ALLE), American Airlines Group Inc (AAL), AutoNation Inc (AN), Baker Hughes Co (BKR), Blackstone Inc (BX), Boston Beer Co Inc/The (SAM), Boyd Gaming Corp (BYD), Brunswick Corp/DE (BC), Carpenter Technology Corp (CRS), CBRE Group Inc (CBRE), CenterPoint Energy Inc (CNP), Comfort Systems USA Inc (FIX), Darling Ingredients Inc (DAR), Deckers Outdoor Corp (DECK), Digital Realty Trust Inc (DLR), Dover Corp (DOV), Dow Inc (DOW), EastGroup Properties Inc (EGP), Euronet Worldwide Inc (EEFT), First Citizens BancShares Inc/ (FCNCA), Ford Motor Co (F), Freeport-McMoRan Inc (FCX), FTI Consulting Inc (FCN), Hasbro Inc (HAS), Healthpeak Properties Inc (DOC), Honeywell International Inc (HON), Intel Corp (INTC), Iridium Communications Inc (IRDM), Kinsale Capital Group Inc (KNSL), Lazard Inc (LAZ), Millrose Properties Inc (MRP), Mohawk Industries Inc (MHK), MSC Industrial Direct Co Inc (MSM), Newmont Corp (NEM), Norfolk Southern Corp (NSC), Old Republic International Cor (ORI), PG&E Corp (PCG), Pool Corp (POOL), Popular Inc (BPOP), Roper Technologies Inc (ROP), Ryder System Inc (R), SLM Corp (SLM), Spirit AeroSystems Holdings In (SPR), SS&C Technologies Holdings Inc (SSNC), TechnipFMC PLC (FTI), Textron Inc (TXT), T-Mobile US Inc (TMUS), Tractor Supply Co (TSCO), TransUnion (TRU), Union Pacific Corp (UNP), Valero Energy Corp (VLO), VeriSign Inc (VRSN), West Pharmaceutical Services Inc (WST), Western Union Co/The (WU).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Climb on Strength in Energy Producers

Investors considering a purchase of Centene Corp (Symbol: CNC) shares, but tentative about paying the going market price of $35.76/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the January 2027 put at the $22.50 strike, which has a bid at the time of this writing of $1.55. Collecting that bid as the premium represents a 6.9% return against the $22.50 commitment, or a 5.6% annualized rate of return (at Stock Options Channel we call this the YieldBoost).
Selling a put does not give an investor access to CNC's upside potential the way owning shares would, because the put seller only ends up owning shares in the scenario where the contract is exercised. And the person on the other side of the contract would only benefit from exercising at the $22.50 strike if doing so produced a better outcome than selling at the going market price. (Do options carry counterparty risk? This and six other common options myths debunked). So unless Centene Corp sees its shares fall 37.5% and the contract is exercised (resulting in a cost basis of $20.95 per share before broker commissions, subtracting the $1.55 from $22.50), the only upside to the put seller is from collecting that premium for the 5.6% annualized rate of return.
Below is a chart showing the trailing twelve month trading history for Centene Corp, and highlighting in green where the $22.50 strike is located relative to that history:
The chart above, and the stock's historical volatility, can be a helpful guide in combination with fundamental analysis to judge whether selling the January 2027 put at the $22.50 strike for the 5.6% annualized rate of return represents good reward for the risks. We calculate the trailing twelve month volatility for Centene Corp (considering the last 249 trading day closing values as well as today's price of $35.76) to be 64%. For other put options contract ideas at the various different available expirations, visit the CNC Stock Options page of StockOptionsChannel.com.
Also see:
BDCs Hedge Funds Are Selling
Institutional Holders of TSPX
CEE Dividend History
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Agree To Purchase Centene At $22.50, Earn 6.9% Using Options

Below is Validea's guru fundamental report for CENTENE CORP (CNC). Of the 22 guru strategies we follow, CNC rates highest using our P/E/Growth Investor model based on the published strategy of Peter Lynch. This strategy looks for stocks trading at a reasonable price relative to earnings growth that also possess strong balance sheets.
CENTENE CORP (CNC) is a large-cap value stock in the Healthcare Facilities industry. The rating using this strategy is 72% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of CENTENE CORP
More Information on Peter Lynch
Peter Lynch Portfolio
About Peter Lynch: Perhaps the greatest mutual fund manager of all-time, Lynch guided Fidelity Investment's Magellan Fund to a 29.2 percent average annual return from 1977 until his retirement in 1990, almost doubling the S&P 500's 15.8 percent yearly return over that time. Lynch's common sense approach and quick wit made him one of the most quoted investors on Wall Street. ("Go for a business that any idiot can run -- because sooner or later, any idiot probably is going to run it," is one of his many pearls of wisdom.) Lynch's bestseller One Up on Wall Street is something of a "stocks for the everyman/everywoman", breaking his approach down into easy-to-understand concepts.
Additional Research Links
Dividend Aristocrats 2025
High Insider Ownership Stocks
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Peter Lynch Detailed Fundamental Analysis - CNC

Fintel reports that on October 14, 2025, Goldman Sachs initiated coverage of Centene (NYSE:CNC) with a Sell recommendation.
Analyst Price Forecast Suggests 0.17% Downside
As of September 30, 2025, the average one-year price target for Centene is $36.37/share. The forecasts range from a low of $24.24 to a high of $96.08. The average price target represents a decrease of 0.17% from its latest reported closing price of $36.43 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Centene is 150,025MM, a decrease of 6.04%. The projected annual non-GAAP EPS is 8.36.
What is the Fund Sentiment?
There are 1,780 funds or institutions reporting positions in Centene. This is an decrease of 13 owner(s) or 0.73% in the last quarter. Average portfolio weight of all funds dedicated to CNC is 0.25%, an increase of 19.64%. Total shares owned by institutions increased in the last three months by 3.99% to 553,019K shares. The put/call ratio of CNC is 0.52, indicating a bullish outlook.
What are Other Shareholders Doing?
Norges Bank holds 26,455K shares representing 5.39% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
Harris Associates L P holds 20,419K shares representing 4.16% ownership of the company. In its prior filing, the firm reported owning 21,136K shares , representing a decrease of 3.51%. The firm decreased its portfolio allocation in CNC by 16.37% over the last quarter.
Capital World Investors holds 17,733K shares representing 3.61% ownership of the company. In its prior filing, the firm reported owning 14,910K shares , representing an increase of 15.92%. The firm decreased its portfolio allocation in CNC by 4.60% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 15,971K shares representing 3.25% ownership of the company. In its prior filing, the firm reported owning 15,655K shares , representing an increase of 1.98%. The firm decreased its portfolio allocation in CNC by 18.62% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 14,125K shares representing 2.88% ownership of the company. In its prior filing, the firm reported owning 13,779K shares , representing an increase of 2.45%. The firm decreased its portfolio allocation in CNC by 18.57% over the last quarter.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Goldman Sachs Initiates Coverage of Centene (CNC) with Sell Recommendation

Fintel reports that on October 14, 2025, Morgan Stanley maintained coverage of Centene (NYSE:CNC) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 0.17% Downside
As of September 30, 2025, the average one-year price target for Centene is $36.37/share. The forecasts range from a low of $24.24 to a high of $96.08. The average price target represents a decrease of 0.17% from its latest reported closing price of $36.43 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Centene is 150,025MM, a decrease of 6.04%. The projected annual non-GAAP EPS is 8.36.
What is the Fund Sentiment?
There are 1,780 funds or institutions reporting positions in Centene. This is an decrease of 13 owner(s) or 0.73% in the last quarter. Average portfolio weight of all funds dedicated to CNC is 0.25%, an increase of 19.64%. Total shares owned by institutions increased in the last three months by 3.99% to 553,019K shares. The put/call ratio of CNC is 0.52, indicating a bullish outlook.
What are Other Shareholders Doing?
Norges Bank holds 26,455K shares representing 5.39% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
Harris Associates L P holds 20,419K shares representing 4.16% ownership of the company. In its prior filing, the firm reported owning 21,136K shares , representing a decrease of 3.51%. The firm decreased its portfolio allocation in CNC by 16.37% over the last quarter.
Capital World Investors holds 17,733K shares representing 3.61% ownership of the company. In its prior filing, the firm reported owning 14,910K shares , representing an increase of 15.92%. The firm decreased its portfolio allocation in CNC by 4.60% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 15,971K shares representing 3.25% ownership of the company. In its prior filing, the firm reported owning 15,655K shares , representing an increase of 1.98%. The firm decreased its portfolio allocation in CNC by 18.62% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 14,125K shares representing 2.88% ownership of the company. In its prior filing, the firm reported owning 13,779K shares , representing an increase of 2.45%. The firm decreased its portfolio allocation in CNC by 18.57% over the last quarter.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Index	Bulls	Bears
Confidence		—
Support		—
Cash flows		—

	S/L 5%RUB 34.81	S/L 10%RUB 36.47	S/L 15%RUB 38.12
Day	7.28%	0.05%	0.00%
Week	42.23%	11.70%	2.15%
Month	69.54%	44.44%	26.20%

Centene Corporation

Market sentiment

Overall assessment

Share of longs and shorts

Long

Short

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Protective stop levels