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

In afternoon trading on Tuesday, Energy stocks are the worst performing sector, showing a 0.4% loss. Within the sector, APA Corp (Symbol: APA) and Devon Energy Corp. (Symbol: DVN) are two large stocks that are lagging, showing a loss of 2.0% and 1.8%, respectively. Among energy ETFs, one ETF following the sector is the Energy Select Sector SPDR ETF (Symbol: XLE), which is down 0.7% on the day, and up 16.30% year-to-date. APA Corp, meanwhile, is down 35.86% year-to-date, and Devon Energy Corp., is down 13.21% year-to-date. Combined, APA and DVN make up approximately 2.2% of the underlying holdings of XLE.
The next worst performing sector is the Healthcare sector, showing a 0.3% loss. Among large Healthcare stocks, Incyte Corporation (Symbol: INCY) and Moderna Inc (Symbol: MRNA) are the most notable, showing a loss of 10.0% and 3.6%, respectively. One ETF closely tracking Healthcare stocks is the Health Care Select Sector SPDR ETF (XLV), which is down 0.2% in midday trading, and up 5.05% on a year-to-date basis. Incyte Corporation, meanwhile, is up 10.35% year-to-date, and Moderna Inc, is down 61.72% year-to-date. Combined, INCY and MRNA make up approximately 0.5% of the underlying holdings of XLV.
Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:
Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Tuesday. As you can see, two sectors are up on the day, while six sectors are down.
Technology & Communications
+0.6%
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.

Tuesday Sector Laggards: Energy, Healthcare

For Immediate Release
Chicago, IL – December 16, 2025 – Today, Zacks Equity Research Equity are UnitedHealth Group Inc. UNH, Humana Inc. HUM and Centene Corp. CNC.
Industry: HMO
Link: https://www.zacks.com/commentary/2804543/3-hmo-stocks-in-focus-despite-rising-medical-costs-regulatory-pressures
The U.S. health insurance industry, referred to as Health Maintenance Organization (HMO), is capitalizing on strategic mergers and acquisitions (M&A) and technological innovation to expand its market presence, diversify offerings and enhance competitiveness. The Federal Reserve’s projected interest rate cuts for 2026 are expected to lower borrowing costs, encouraging more M&A activity without heavily drawing on internal reserves.
On the downside, medical expenses are rising due to the return of deferred care, increased chronic disease management and surging costs of specialty drugs like biologics and cancer therapies. These pressures, coupled with an aging population and higher chronic illness rates, are compressing profit margins and straining the Health Benefit Ratio (HBR).
Compounding the challenges is a national shortage of nurses and healthcare professionals, which is impacting hospital operations. Despite these hurdles, companies like UnitedHealth Group Inc., Humana Inc. and Centene Corp. appear well-placed to counter industry headwinds.
About the Industry
The Zacks HMO industry consists of entities (either private or public) that take care of subscribers’ basic and supplemental health services. Companies in this space primarily assume risks and assign premiums to health and medical insurance policies. Industry participants also provide administrative and managed-care services for self-funded insurance.
Services are generally offered by a network of approved care providers (called in-network), which include primary care physicians, clinical facilities, hospitals and specialists. However, out-of-network exceptions are made during emergencies or when necessary. Health insurance plans can be availed through private purchases, social insurance or social welfare programs.
4 Trends Defining the HMO Industry's Future
Rising Medical Expenses: Healthcare costs for U.S. health insurers are climbing due to multiple factors. The resurgence of previously postponed medical care, routine screenings and chronic disease management has led to increased healthcare utilization and a surge in insurance claims. Additionally, the cost of prescription drugs continues to escalate sharply.
Demographic trends, including an aging population, and a growing incidence of chronic illnesses like obesity-related diabetes and cardiovascular disease, are further intensifying long-term cost pressures. These dynamics have strained the Health Benefit Ratio (a key profitability metric for insurers), thereby compressing profit margins.
Regulatory Challenges: Health insurers in the domestic market are navigating a period of heightened regulatory uncertainty. Legislative proposals such as the One Big Beautiful Bill Act seek to reduce federal Medicaid funding, introduce work requirements and tighten eligibility verification, measures that could lower coverage levels and compress reimbursement rates for both providers and insurers.
At the same time, Medicare Advantage payment rate adjustments and potential reductions in required coverage under the ACA are creating uncertainty. Health insurers are especially vulnerable, as reduced Medicaid and Medicare payments can push already thin margins into the red. Additionally, reductions in ACA subsidies may depress enrollment in marketplace plans.
Given that commercial insurance products typically deliver higher margins than Medicaid or ACA plans, insurers are increasingly prioritizing the expansion of their commercial portfolios. That said, the anticipated Medicare Advantage rate increases in 2026 may provide some margin support.
Scarcity of Healthcare Professionals: The ongoing nationwide shortage of nurses and other healthcare professionals continues to strain hospital operations, especially as patient volumes rise. Key factors driving this crisis include an aging nursing workforce, widespread burnout and unequal workforce distribution. HMOs collaborate with hospitals, physicians and other providers to deliver cost-effective care to their members.
The quality and reliability of these services are essential for maintaining customer satisfaction and renewing health plans. However, a reduced nursing workforce can compromise the ability of hospitals to deliver high-quality care, ultimately impacting customer retention and the reputation of HMO companies.
Strategic Emphasis on Mergers and Acquisitions: In addition to leveraging technological advancements, HMOs frequently engage in M&A to enhance their capabilities, penetrate new markets, strengthen their foothold in existing regions, grow their customer base and reinforce their national presence. These strategic moves also foster diversification, enabling firms to maintain a competitive edge.
With the Federal Reserve announcing three interest rate cuts for 2025 and signaling further reductions in 2026, borrowing costs are expected to ease. This more favorable interest rate environment will likely encourage M&A activity by allowing industry players to secure financing more affordably, minimizing the need to deplete internal cash reserves.
Zacks Industry Rank Indicates Bearish Outlook
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all member stocks, indicates tepid near-term prospects. The Zacks Medical-HMOs industry is housed within the broader Zacks Medical sector. It currently carries a Zacks Industry Rank #212, which places it in the bottom 12% of more than 250 Zacks industries.
Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one. The industry’s positioning in the bottom 50% of the Zacks-ranked industries is a result of the negative earnings outlook for the constituent companies in aggregate.
Despite the dismal scenario, we will present a few stocks that one can retain, given their solid growth endeavors. But before that, it is worth looking at the industry’s recent stock-market performance and the valuation picture.
Industry Underperforms S&P 500, Sector
The Zacks Medical-HMO industry has declined 25.8% in the past year against the Zacks S&P 500 composite’s 2.4% growth. The Zacks Medical sector rallied 14.3% in the same time frame.
Industry's Current Valuation
On the basis of the forward 12-month price-to-earnings (P/E) ratio, which is commonly used for valuing medical stocks, the industry is trading at 16.04X compared with the S&P 500’s 23.35X and the sector’s 20.92X.
In the past five years, the industry has traded as high as 19.57X and as low as 11.58X, the median being 16.2X.
3 Stocks to Watch
We present three stocks from the space with a current Zacks Rank #3 (Hold). Considering the present industry scenario, it might be prudent for investors to retain these stocks in their portfolios, as these are well-placed to generate growth in the long haul.
UnitedHealth Group: Minnesota-based UnitedHealth Group’s revenues are driven by strong performances from UnitedHealthcare and Optum. The UnitedHealthcare segment benefits from effective Medicare and Medicaid offerings, integrating affordable and attractive features that expand membership and boost premium income. This has led to multiple contract wins for the company. Optum's growth is fueled by acquisitions, advanced technology and data-driven care models. Strategic M&A and telehealth investments further enhance UNH’s nationwide reach and service efficiency.
The Zacks Consensus Estimate for UnitedHealth Group’s 2025 earnings is pegged at $16.29 per share. The consensus mark for revenues implies 11.9% growth from the year-ago figure. UNH’s earnings beat estimates in two of the last four quarters and missed the mark twice, the average negative surprise being 2.25%.
Humana: Headquartered in Kentucky, Humana has maintained steady growth fueled by rising premiums and an expanding membership base. The strong performance of these plans has secured the company multiple new contracts with state agencies. Through its CenterWell brand, Humana continues to focus on meeting the healthcare needs of the nation’s senior population. Over the years, the company has also pursued strategic acquisitions, which have broadened its revenue streams.
The Zacks Consensus Estimate for Humana’s 2025 earnings is pegged at $17.08 per share, indicating a 5.4% rise from the 2024 figure. The consensus mark for 2025 revenues implies 10% growth from the 2024 figure. HUM’s earnings surpassed estimates in three of the last four quarters and missed the mark once, the average being 7.54%.
Centene: Headquartered in Missouri, Centene’s revenue growth is driven by strong performance in its Medicare and Medicaid businesses, contributing to increased contract wins and expanding membership. The ongoing preference for Medicare Advantage plans among the aging U.S. population continues to fuel consistent demand for Centene’s Medicare offerings. The company pursues an inorganic growth strategy, utilizing strategic acquisitions and partnerships with healthcare providers to broaden its capabilities.
The Zacks Consensus Estimate for Centene’s 2025 earnings is pegged at $2.00 per share. The consensus mark for 2025 revenues implies 18.5% growth from the 2024 figure. CNC’s earnings outpaced estimates in three of the last four quarters and missed the mark once, the average being 75.18%.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can access their live picks without cost or obligation.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Naming Top 10 Stocks for 2026
Want to be tipped off early to our 10 top picks for the entirety of 2026? History suggests their performance could be sensational.
From 2012 (when our Director of Research Sheraz Mian assumed responsibility for the portfolio) through November, 2025, the Zacks Top 10 Stocks gained +2,530.8%, more than QUADRUPLING the S&P 500’s +570.3%.
Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2026. Don’t miss your chance to get in on these stocks when they’re released on January 5.
Be First to New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Zacks Industry Outlook UnitedHealth, Humana and Centene

The U.S. health insurance industry, referred to as Health Maintenance Organization (HMO), is capitalizing on strategic mergers and acquisitions (M&A) and technological innovation to expand its market presence, diversify offerings and enhance competitiveness. The Federal Reserve’s projected interest rate cuts for 2026 are expected to lower borrowing costs, encouraging more M&A activity without heavily drawing on internal reserves. On the downside, medical expenses are rising due to the return of deferred care, increased chronic disease management and surging costs of specialty drugs like biologics and cancer therapies. These pressures, coupled with an aging population and higher chronic illness rates, are compressing profit margins and straining the Health Benefit Ratio (HBR). Compounding the challenges is a national shortage of nurses and healthcare professionals, which is impacting hospital operations. Despite these hurdles, companies like UnitedHealth Group Incorporated UNH, Humana Inc. HUM and Centene Corporation CNC appear well-placed to counter industry headwinds.
About the Industry
The Zacks HMO industry consists of entities (either private or public) that take care of subscribers’ basic and supplemental health services. Companies in this space primarily assume risks and assign premiums to health and medical insurance policies. Industry participants also provide administrative and managed-care services for self-funded insurance. Services are generally offered by a network of approved care providers (called in-network), which include primary care physicians, clinical facilities, hospitals and specialists. However, out-of-network exceptions are made during emergencies or when necessary. Health insurance plans can be availed through private purchases, social insurance or social welfare programs.
4 Trends Defining the HMO Industry's Future
Rising Medical Expenses: Healthcare costs for U.S. health insurers are climbing due to multiple factors. The resurgence of previously postponed medical care, routine screenings and chronic disease management has led to increased healthcare utilization and a surge in insurance claims. Additionally, the cost of prescription drugs continues to escalate sharply. Demographic trends, including an aging population, and a growing incidence of chronic illnesses like obesity-related diabetes and cardiovascular disease, are further intensifying long-term cost pressures. These dynamics have strained the Health Benefit Ratio (a key profitability metric for insurers), thereby compressing profit margins.
Regulatory Challenges: Health insurers in the domestic market are navigating a period of heightened regulatory uncertainty. Legislative proposals such as the One Big Beautiful Bill Act seek to reduce federal Medicaid funding, introduce work requirements and tighten eligibility verification, measures that could lower coverage levels and compress reimbursement rates for both providers and insurers. At the same time, Medicare Advantage payment rate adjustments and potential reductions in required coverage under the ACA are creating uncertainty. Health insurers are especially vulnerable, as reduced Medicaid and Medicare payments can push already thin margins into the red. Additionally, reductions in ACA subsidies may depress enrollment in marketplace plans. Given that commercial insurance products typically deliver higher margins than Medicaid or ACA plans, insurers are increasingly prioritizing the expansion of their commercial portfolios. That said, the anticipated Medicare Advantage rate increases in 2026 may provide some margin support.
Scarcity of Healthcare Professionals: The ongoing nationwide shortage of nurses and other healthcare professionals continues to strain hospital operations, especially as patient volumes rise. Key factors driving this crisis include an aging nursing workforce, widespread burnout and unequal workforce distribution. HMOs collaborate with hospitals, physicians and other providers to deliver cost-effective care to their members. The quality and reliability of these services are essential for maintaining customer satisfaction and renewing health plans. However, a reduced nursing workforce can compromise the ability of hospitals to deliver high-quality care, ultimately impacting customer retention and the reputation of HMO companies.
Strategic Emphasis on Mergers and Acquisitions: In addition to leveraging technological advancements, HMOs frequently engage in M&A to enhance their capabilities, penetrate new markets, strengthen their foothold in existing regions, grow their customer base and reinforce their national presence. These strategic moves also foster diversification, enabling firms to maintain a competitive edge. With the Federal Reserve announcing three interest rate cuts for 2025 and signaling further reductions in 2026, borrowing costs are expected to ease. This more favorable interest rate environment will likely encourage M&A activity by allowing industry players to secure financing more affordably, minimizing the need to deplete internal cash reserves.
Zacks Industry Rank Indicates Bearish Outlook
The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all member stocks, indicates tepid near-term prospects. The Zacks Medical-HMOs industry is housed within the broader Zacks Medical sector. It currently carries a Zacks Industry Rank #212, which places it in the bottom 12% of more than 250 Zacks industries.
Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one. The industry’s positioning in the bottom 50% of the Zacks-ranked industries is a result of the negative earnings outlook for the constituent companies in aggregate.
Despite the dismal scenario, we will present a few stocks that one can retain, given their solid growth endeavors. But before that, it is worth looking at the industry’s recent stock-market performance and the valuation picture.
Industry Underperforms S&P 500, Sector
The Zacks Medical-HMO industry has declined 25.8% in the past year against the Zacks S&P 500 composite’s 2.4% growth. The Zacks Medical sector rallied 14.3% in the same time frame.
One-Year Price Performance
Image Source: Zacks Investment Research
Industry's Current Valuation
On the basis of the forward 12-month price-to-earnings (P/E) ratio, which is commonly used for valuing medical stocks, the industry is trading at 16.04X compared with the S&P 500’s 23.35X and the sector’s 20.92X.
In the past five years, the industry has traded as high as 19.57X and as low as 11.58X, the median being 16.2X, as the chart below shows.
Forward 12-Month Price/Earnings (P/E) Ratio
Image Source: Zacks Investment Research
Image Source: Zacks Investment Research
3 Stocks to Watch
We present three stocks from the space with a current Zacks Rank #3 (Hold). Considering the present industry scenario, it might be prudent for investors to retain these stocks in their portfolios, as these are well-placed to generate growth in the long haul.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UnitedHealth Group: Minnesota-based UnitedHealth Group’s revenues are driven by strong performances from UnitedHealthcare and Optum. The UnitedHealthcare segment benefits from effective Medicare and Medicaid offerings, integrating affordable and attractive features that expand membership and boost premium income. This has led to multiple contract wins for the company. Optum's growth is fueled by acquisitions, advanced technology and data-driven care models. Strategic M&A and telehealth investments further enhance UNH’s nationwide reach and service efficiency.
The Zacks Consensus Estimate for UnitedHealth Group’s 2025 earnings is pegged at $16.29 per share. The consensus mark for revenues implies 11.9% growth from the year-ago figure. UNH’s earnings beat estimates in two of the last four quarters and missed the mark twice, the average negative surprise being 2.25%.
Price & Consensus: UNH
Image Source: Zacks Investment Research
Humana: Headquartered in Kentucky, Humana has maintained steady growth fueled by rising premiums and an expanding membership base. The strong performance of these plans has secured the company multiple new contracts with state agencies. Through its CenterWell brand, Humana continues to focus on meeting the healthcare needs of the nation’s senior population. Over the years, the company has also pursued strategic acquisitions, which have broadened its revenue streams.
The Zacks Consensus Estimate for Humana’s 2025 earnings is pegged at $17.08 per share, indicating a 5.4% rise from the 2024 figure. The consensus mark for 2025 revenues implies 10% growth from the 2024 figure. HUM’s earnings surpassed estimates in three of the last four quarters and missed the mark once, the average being 7.54%.
Price & Consensus: HUM
Image Source: Zacks Investment Research
Centene: Headquartered in Missouri, Centene’s revenue growth is driven by strong performance in its Medicare and Medicaid businesses, contributing to increased contract wins and expanding membership. The ongoing preference for Medicare Advantage plans among the aging U.S. population continues to fuel consistent demand for Centene’s Medicare offerings. The company pursues an inorganic growth strategy, utilizing strategic acquisitions and partnerships with healthcare providers to broaden its capabilities.
The Zacks Consensus Estimate for Centene’s 2025 earnings is pegged at $2.00 per share. The consensus mark for 2025 revenues implies 18.5% growth from the 2024 figure. CNC’s earnings outpaced estimates in three of the last four quarters and missed the mark once, the average being 75.18%.
Price & Consensus: CNC
Image Source: Zacks Investment Research
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They include
Stock #1: A Disruptive Force with Notable Growth and Resilience
Stock #2: Bullish Signs Signaling to Buy the Dip
Stock #3: One of the Most Compelling Investments in the Market
Stock #4: Leader In a Red-Hot Industry Poised for Growth
Stock #5: Modern Omni-Channel Platform Coiled to Spring
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.
Download Atomic Opportunity: Nuclear Energy's Comeback free today.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 HMO Stocks in Focus Despite Rising Medical Costs, Regulatory Pressures

The S&P 500 Index ($SPX) (SPY) on Thursday closed up by +0.21%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up by +1.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.35%. December E-mini S&P futures (ESZ25) rose +0.23%, and December E-mini Nasdaq futures (NQZ25) fell -0.33%.
Stock indexes settled mixed on Thursday, with the S&P 500 posting a 6-week high and the Dow Jones Industrials climbing to a new all-time high. The broader market found underlying support on Thursday after bond yields moved lower amid a jump in weekly jobless claims, which is dovish for Fed policy. Also, managed healthcare stocks staged a rally on Thursday, a supportive factor for the overall market, and Visa shares surged more than +6% to boost the Dow Jones Industrial Average.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
However, the Nasdaq 100 fell to a 1-week low due to a sell-off in Oracle, which is viewed as a bellwether of the AI investment boom. Oracle tumbled more than 10% on Thursday, leading AI-infrastructure shares lower, after reporting Q2 cloud sales that missed estimates and raising its 2026 capital spending outlook by $15 billion to $50 billion. Oracle’s results reignited worries about tech valuations and whether the capital outlays on AI infrastructure will pay off.
US weekly initial unemployment claims rose by +44,000 to a 3-month high of 236,000, showing a weaker labor market than expectations of 220,000.
The US Sep trade deficit unexpectedly shrank to -$52.8 billion versus expectations of a widening to -$63.1 billion and the smallest deficit in 5.25 years.
The markets are discounting a 24% chance that the FOMC will cut the fed funds target range by 25 bp at the January 27-28 FOMC meeting.
Q3 corporate earnings season is drawing to a close as 496 of the 500 S&P companies have released results. According to Bloomberg Intelligence, 83% of reporting S&P 500 companies exceeded forecasts, on course for the best quarter since 2021. Q3 earnings rose +14.6%, more than doubling expectations of +7.2% y/y.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 rallied to a 4-week high and closed up +0.80%. China’s Shanghai Composite closed down -0.70%. Japan’s Nikkei Stock 225 closed down -0.90%.
Interest Rates
March 10-year T-notes (ZNH6) on Thursday closed up by +7.5 ticks. The 10-year T-note yield fell -0.6 bp to 4.141%. T-notes found support on Thursday on positive carryover from Wednesday when the FOMC cut its 2025 and 2026 US core PCE price estimates, and Fed Chair Powell said that he doesn't think a rate hike is anybody's base case for the Fed's next policy move. T-notes held their gains after weekly jobless claims unexpectedly rose to a 3-month high, a dovish factor for Fed policy. Decent demand for the Treasury’s $22 billion auction of 30-year T-bonds was also positive for T-notes as the auction had a bid-to-cover ratio of 2.36, right on the 10-auction average.
European government bond yields are moving lower today. The 10-year German bund yield fell -0.7 bp to 2.843%. The 10-year UK gilt yield fell -2.2 bp to 4.484%.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on December 18.
US Stock Movers
Cruise line operators moved higher on Thursday. Royal Caribbean Cruises Ltd (RCL) closed up more than +7% to lead gainers in the S&P 500. Also, Norwegian Cruise Line Holdings (NCLH) closed up more than +6%, and Carnival (CCL) closed up more than +5%
Managed healthcare stocks rallied on Thursday. Elevance Health (ELV) closed up more than +5%, and Centene (CNC) and Molina Healthcare (MOH) closed up more than +4%. Also, Humana (HUM) and Cigna Group (CI) closed up more than +3%. In addition, HCA Healthcare (HCA) and UnitedHealth Group (UNH) closed up more than +2%.
Fertilizer stocks rose on Thursday after Ukraine said its drones attacked two fertilizer plants in western Russia. Mosaic (MOS) closed up more than +6%, and Intrepid Potash (IPI) closed up more than +5%. Also, CF Industries Holdings (CF) closed up more than +2%.
Chip makers retreated on Thursday, weighing on the Nasdaq 100. ARM Holdings Plc (ARM), Intel (INTC), and Marvell Technology (MRVL) closed down more than -3%. Also, Nvidia (NVDA), Broadcom (AVGO), Applied Materials (AMAT), GlobalFoundries (GFS), and Micron Technology (MU) closed down more than -1%.
Oracle (ORCL) closed down more than -10% to lead losers in the S&P 500 after reporting Q2 adjusted revenue of $16.06 billion, below the consensus of $16.21 billion, and raising its 2026 capital spending outlook by $15 billion to $50 billion.
Oxford Industries (OXM) closed down more than -21% after cutting its 2026 adjusted EPS forecast to $2.20-$2.40 from a previous estimate of $2.80-$3.20, well below the consensus of $2.91.
Lovesac Co (LOVE) closed down more than -8% after cutting its 2026 net sales forecast to $685 million-$705 million from a previous forecast of $710 million-$740 million, weaker than the consensus of $713.7 million.
Stellantis NV (STLA) closed down more than -3% after BNP Paribas Exane downgraded the stock to underperform from neutral.
Intuitive Surgical (ISRG) closed down more than -1% after Citigroup downgraded the stock to neutral from buy.
Gemini Space Station Inc (GEMI) closed up more than +31% after the company’s application for a derivatives exchange was approved by the Commodity Futures Exchange Commission.
Ciena Corp (CIEN) closed up more than +8% after reporting Q4 revenue of $1.35 billion, better than the consensus of $1.29 billion.
Visa (V) closed up more than +6% to lead gainers in the Dow Jones Industrials after Bank of America Global Research upgraded the stock to buy from neutral with a price target of $382.
Abercrombie & Fitch (ANF) closed up more than +2% after Goldman Sachs initiated coverage on the stock with a buy recommendation and a price target of $120.
West Pharmaceutical Services (WST) closed up more than +1% after Nephron Research LLC upgraded the stock to buy from hold with a price target of $367.
Earnings Reports(12/12/2025)
Johnson Outdoors Inc (JOUT), SR Bancorp Inc (SRBK), Value Line Inc (VALU).
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.

Most Stocks Recover from Oracle Sell-Off

Below is Validea's guru fundamental report for CENTENE CORP (CNC). Of the 22 guru strategies we follow, CNC rates highest using our Value Investor model based on the published strategy of Benjamin Graham. This deep value methodology screens for stocks that have low P/B and P/E ratios, along with low debt and solid long-term earnings growth.
CENTENE CORP (CNC) is a large-cap growth stock in the Healthcare Facilities industry. The rating using this strategy is 71% 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 Benjamin Graham
About Benjamin Graham: The late Benjamin Graham may be the oldest of the gurus we follow, but his impact on the investing world has lasted for decades after his death in 1976. Known as both the "Father of Value Investing" and the founder of the entire field of security analysis, Graham mentored several of history's greatest investors -- including Warren Buffett -- and inspired a slew of others, including John Templeton, Mario Gabelli, and another of Validea's gurus, John Neff. Graham built his fortune and reputation after living through some extremely difficult times, including both the Great Depression and his own family's financial woes following his father's death when Benjamin was a young man. His investment firm posted per annum returns of about 20 percent from 1936 to 1956, far outpacing the 12.2 percent average return for the market during that time.
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.

CNC Quantitative Stock Analysis - Benjamin Graham

A look at the weighted underlying holdings of the SPDR S&P Health Care Services ETF (XHS) shows an impressive 10.5% of holdings on a weighted basis have experienced insider buying within the past six months.
Centene Corp (Symbol: CNC), which makes up 2.29% of the SPDR S&P Health Care Services ETF (XHS), has seen 2 directors and officers purchase shares in the past six months, according to the recent Form 4 data. The ETF holds a total of $1,946,816 worth of CNC, making it the #10 largest holding. The table below details the recent insider buying activity observed at CNC:
CNC — last trade: $38.34 — Recent Insider Buys:
And Clover Health Investments Corp (Symbol: CLOV), the #39 largest holding among components of the SPDR S&P Health Care Services ETF (XHS), shows 2 directors and officers as recently filing Form 4's indicating purchases. The ETF holds $1,368,507 worth of CLOV, which represents approximately 1.61% of the ETF's total assets at last check. The recent insider buying activity observed at CLOV is detailed in the table below:
CLOV — last trade: $2.58 — Recent Insider Buys:
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.

Insiders Buy the Holdings of XHS ETF

The S&P 500 Index ($SPX) (SPY) on Monday closed up by +1.55%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up by +0.44%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up by +2.62%. December E-mini S&P futures (ESZ25) rose +1.56%, and December E-mini Nasdaq futures (NQZ25) rose +2.64%.
US stock indexes rallied sharply on Monday due to strength in technology stocks and rising expectations for a December Fed interest rate cut. Semiconductor and AI-infrastructure stocks extended last Friday’s rebound after the sectors retreated on concerns over lofty valuations and whether heavy investment in artificial intelligence will boost profitability. Also, the strength of the Magnificent Seven technology stocks on Monday was another supportive factor for the overall market.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
T-note yields moved lower on Monday, providing support to stocks, after Fed Governor Christopher Waller said he's advocating for a December rate cut by the Fed due to concerns about the labor market, and then taking a meeting-by-meeting approach starting in January. The 10-year T-note yield fell -3 bp to 4.03% as Mr. Waller’s comments, along with last Friday’s dovish comments from New York Fed President John Williams, increased the chance of a Fed rate cut at next month’s FOMC meeting to 80% from 30% last Thursday.
The Bureau of Labor Statistics (BLS) canceled its October consumer price report last Friday and said the November report will be released on December 18. Last Wednesday, the BLS said it would not publish an October employment report and noted that it would incorporate those payroll figures into the November report, scheduled for publication on December 16.
The markets will look to this week’s economic news for direction. On Tuesday, Sep retail sales are expected to climb +0.4% m/m and +0.3% m/m ex-autos. Also, Sep PPI is expected to remain unchanged from Aug at +2.6% y/y, and Sep core PPI is expected to ease to +2.7% y/y from +2.8% y/y in Aug. In addition, The Conference Board’s Nov consumer confidence index is expected to fall by 1.2 points to 93.4. Finally, on Tuesday, Oct pending home sales are expected to climb +0.1% m/m. Wednesday brings weekly initial unemployment claims (expected +6,000 to 226,000), Sep capital goods new orders nondefense ex-aircraft and parts (expected +0.3% m/m), the Nov MNI Chicago PMI (expected +0.2 to 44.0), and the Fed Beige Book.
The markets are discounting an 80% chance of another -25 bp rate cut at the next FOMC meeting on December 9-10.
Q3 corporate earnings season is drawing to a close as 466 of the 500 S&P companies have released results. According to Bloomberg Intelligence, 83% of reporting S&P 500 companies exceeded forecasts, on course for the best quarter since 2021. Q3 earnings rose +14.6%, more than doubling expectations of +7.2% y/y.
Overseas stock markets settled higher on Monday. The Euro Stoxx 50 closed up +0.25%. China’s Shanghai Composite recovered from a 6-week low and closed up +0.05%. Japan’s Nikkei Stock 225 did not trade as Japanese markets closed for the Labor Thanksgiving Day holiday.
Interest Rates
December 10-year T-notes (ZNZ5) on Monday closed up by +4 ticks. The 10-year T-note yield fell -2.9 bp to 4.034%. T-notes settled higher on Monday, and the 10-year T-note yield fell to a 3.5-week low of 3.031%. Dovish comments from Fed Governor Christopher Waller on Monday lifted T-note prices when he said he's advocating for a December rate cut by the Fed due to concerns about the labor market, which boosted the chances of a Fed rate cut at the December 9-10 FOMC meeting to 80% from 30% last Thursday. Also, falling inflation expectations are bullish for T-notes after the 10-year breakeven inflation rate fell to a 6.75-month low of 2.231% on Monday. T-notes raced to their highs Monday afternoon on strong demand for the Treasury’s $69 billion auction of 2-year T-notes that had a bid-to-cover ratio of 2.68, above the 10-auction average of 2.60.
Monday's strength in stocks curbed safe-haven demand for government debt and limited gains in T-notes. Also, supply pressures are negative for T-notes as the Treasury will auction $211 billion in T-notes and floating-rate notes this week.
European government bond yields moved lower on Monday. The 10-year German bund yield fell 1.1 bp to 2.692%. The 10-year UK gilt yield fell -0.8 bp to 4.537%.
The German Nov IFO business climate unexpectedly fell -0.4 to 88.1, weaker than expectations of an increase to 88.5.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on December 18.
US Stock Movers
Chip makers and AI-infrastructure stocks rallied sharply on Monday, providing support to the broader market. Broadcom (AVGO) closed up more than +11% to lead gainers in the S&P 500 and Nasdaq 100. Also, Western Digital (WDC) and Micron Technology (MU) closed up more than +8%, and Marvel Technology (MRVL) closed up more than +7%. In addition, Lam Research (LRCX) and Advanced Micro Devices (AMD) closed up more than +6%, and KLA Corp (KLAC) closed up more than +4%. Finally, Intel (INTC) and Applied Materials (AMAT) closed up more than +3%, and ASML Holding NV (ASML) and ARM Holdings Plc (ARM) closed up more than +2%.
The Magnificent Seven Technology stocks rallied on Monday, a supportive factor for the overall market. Tesla (TSLA) and Alphabet (GOOGL) closed up more than +6%. Also, Meta Platforms (META) closed up more than +3%, and Amazon.com (AMZN) and Nvidia (NVDA) closed up more than +2%. In addition, Apple (AAPL) closed up more than +1% and Microsoft (MSFT) closed up +0.40%.
Healthcare insurers and providers are moved higher on Monday after Politico reported the Trump administration is preparing a two-year health insurance premium tax credit extension. Oscar Health (OSCR) closed up more than +23% and Centene (CNC) closed up more than +5%. Also, Molina Healthcare (MOH) and Elevance Health (ELV) closed up more than +2%.
Cruise line operators retreated on Monday, led by a -6% decline in Carnival (CCL) after management struck a cautious tone about near-term demand, citing US macroeconomic uncertainty and elevated Caribbean capacity growth. Also, Royal Caribbean Cruises Ltd (RCL) closed down more than -3% and Norwegian Cruise Line Holdings (NCLH) closed down more than -2%.
Defensive food producers were under pressure on Monday amid a broader market rally. Campbell’s Company (CPB) closed down more than -3% and General Mills (GIS) closed down more than -2%. Also, J M Smucker (SJM), Mondelez International (MDLZ), and McCormick & Co (MKC) closed down more than -1%.
Inspire Medical Systems (INSP) closed up more than +30% after Nephron Research LLC upgraded the stock to buy from hold with a price target of $145.
Lumentum (LITE) closed up more than +17% after Needham & Co. raised its price target on the stock to $290 from $235.
Carvana (CVNA) closed up more than +6% after Wedbush Securities upgraded the stock to outperform from neutral with a price target of $400.
Bristol-Myers Squibb (BMY) closed up more than +3% after peer developer, Bayer AG, said an experimental stroke-prevention drug showed positive results in a late-stage study.
Merck & Co. (MRK) closed up more than +2% to lead gainers in the Dow Jones Industrials after Wells Fargo Securities upgraded the stock to overweight from equal weight with a price target of $125.
Copart (CPRT) closed down more than -4% to lead losers in the Nasdaq 100 after JPMorgan Chase cut its price target on the stock to $45 from $50.
Frontline Plc (FRO) closed down more than -3% after Clarksons Securities downgraded the stock to neutral from buy.
Performance Food Group (PFGC) closed down more than -2% after US Foods said it is no longer pursuing a merger with the company.
Earnings Reports(11/25/2025)
Analog Devices Inc (ADI), Autodesk Inc (ADSK), Best Buy Co Inc (BBY), Burlington Stores Inc (BURL), Dell Technologies Inc (DELL), Dick's Sporting Goods Inc (DKS), HP Inc (HPQ), J M Smucker Co/The (SJM), NetApp Inc (NTAP), Nutanix Inc (NTNX), Workday Inc (WDAY), Zscaler Inc (ZS).
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 Finish Sharply Higher as Tech Stocks Soar

The S&P 500 Index ($SPX) (SPY) today is up by +1.21%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +0.58%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +2.01%. December E-mini S&P futures (ESZ25) are up +1.28%, and December E-mini Nasdaq futures (NQZ25) are up +2.05%.
US stock indexes are moving sharply higher today on strength in technology stocks and rising expectations for a December Fed interest rate cut. Semiconductor and AI-infrastructure stocks are adding to last Friday’s rebound after the sectors retreated on concerns over lofty valuations and whether heavy investment in artificial intelligence will boost profitability. Also, the strength of the Magnificent Seven technology stocks is another supportive factor for the overall market.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
T-note yields are moving lower today, providing support to stocks, after Fed Governor Christopher Waller said he's advocating for a December rate cut by the Fed due to concerns about the labor market, and then taking a meeting-by-meeting approach starting in January. The 10-year T-note yield is down -1 bp to 4.05%.
The Bureau of Labor Statistics (BLS) canceled its October consumer price report last Friday and said the November report will be released on December 18. Last Wednesday, the BLS said it would not publish an October employment report and noted that it would incorporate those payroll figures into the November report, scheduled for publication on December 16.
The markets will look to this week’s economic news for direction. On Tuesday, Sep retail sales are expected to climb +0.4% m/m and +0.3% m/m ex-autos. Also, Sep PPI is expected to remain unchanged from Aug at +2.6% y/y, and Sep core PPI is expected to ease to +2.7% y/y from +2.8% y/y in Aug. In addition, The Conference Board’s Nov consumer confidence index is expected to fall by 1.2 points to 93.4. Finally, on Tuesday, Oct pending home sales are expected to climb +0.1% m/m. Wednesday brings weekly initial unemployment claims (expected +6,000 to 226,000), Sep capital goods new orders nondefense ex-aircraft and parts (expected +0.3% m/m), the Nov MNI Chicago PMI (expected +0.2 to 44.0), and the Fed Beige Book.
The markets are discounting a 72% chance of another -25 bp rate cut at the next FOMC meeting on December 9-10.
Q3 corporate earnings season is drawing to a close as 466 of the 500 S&P companies have released results. According to Bloomberg Intelligence, 83% of reporting S&P 500 companies exceeded forecasts, on course for the best quarter since 2021. Q3 earnings rose +14.6%, more than doubling expectations of +7.2% y/y.
Overseas stock markets are higher today. The Euro Stoxx 50 is up +0.65%. China’s Shanghai Composite recovered from a 6-week low and closed up +0.05%. Japan’s Nikkei Stock 225 did not trade as Japanese markets closed for the Labor Thanksgiving Day holiday.
Interest Rates
December 10-year T-notes (ZNZ5) today are up by +2 ticks. The 10-year T-note yield is down -2.1 bp to 4.042%. T-notes are slightly higher today after Fed Governor Christopher Waller said he's advocating for a December rate cut by the Fed due to concerns about the labor market, which boosted the chances of a Fed rate cut at the December 9-10 FOMC meeting to 72% from 30% last Thursday. Today's strength in stocks has curbed safe-haven demand for T-notes. Supply pressures are also limiting gains in T-notes as the Treasury will auction $211 billion in T-notes and floating-rate notes this week, beginning with today’s $69 billion auction of 2-year T-notes.
European government bond yields are moving lower today. The 10-year German bund yield is down -0.2 bp to 2.701%. The 10-year UK gilt yield is down -0.5 bp to 4.541%.
The German Nov IFO business climate unexpectedly fell -0.4 to 88.1, weaker than expectations of an increase to 88.5.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on December 18.
US Stock Movers
Chip makers and AI-infrastructure stocks are moving higher today, providing support to the broader market. Broadcom (AVGO) is up more than +8% to lead gainers in the Nasdaq 100, and Western Digital (WDC) is up more than +8%. Also, Micron Technology (MU) is up more than +6%, and Lam Research (LRCX) is up more than +5%. In addition, Advanced Micro Devices (AMD) and Marvel Technology (MRVL) are up more than +4%, and KLA Corp (KLAC) and Intel (INTC) are up more than +3%. Finally, Applied Materials (AMAT), ASML Holding NV (ASML), and ARM Holdings Plc (ARM) are up more than +2%.
The Magnificent Seven Technology stocks are climbing today, a supportive factor for the overall market. Tesla (TSLA) is up more than +6% and Alphabet (GOOGL) is up more than +4%. Also, Meta Platforms (META) is up more than +3%, Amazon.com (AMZN) is up more than +2%, and Apple (AAPL) and Nvidia (NVDA) are up more than +1%. In addition, Microsoft (MSFT) is up +0.53%.
Healthcare insurers and providers are moving higher today after Politico reported the Trump administration is preparing a two-year health insurance premium tax credit extension. Oscar Health (OSCR) is up more than+21% and Centene (CNC) is up more than +7%. Also, Molina Healthcare (MOH) is up more than +3% and Elevance Health (ELV) is up more than +2%.
Defensive food producers are under pressure today amid a rally in the broader market. Campbell’s Company (CPB) and General Mills (GIS) are down more than -2%. Also, J M Smucker (SJM), Mondelez International (MDLZ), and McCormick & Co (MKC) are down more than -1%.
Inspire Medical Systems (INSP) is up more than +28% after Nephron Research LLC upgraded the stock to buy from hold with a price target of $145.
Lumentum (LITE) is up more than +11% after Needham & Co. raised its price target on the stock to $290 from $235.
Carvana (CVNA) is up more than +7% after Wedbush Securities upgraded the stock to outperform from neutral with a price target of $400.
Bristol-Myers Squibb (BMY) is up more than +4% after peer developer, Bayer AG, said an experimental stroke-prevention drug showed positive results in a late-stage study.
Merck & Co. (MRK) is up more than +3% to lead gainers in the Dow Jones Industrials after Wells Fargo Securities upgraded the stock to overweight from equal weight with a price target of $125.
Biogen (BIIB) is up more than +3% after rival Novo Nordisk said the pill version of its Ozempic failed to slow the progression of Alzheimer’s disease in two late-stage studies.
Frontline Plc (FRO) is down more than -5% after Clarksons Securities downgraded the stock to neutral from buy.
PureCycle Technologies (PCT) is down more than -5% after TD Cowen downgraded the stock to hold from buy.
Performance Food Group (PFGC) is down more than -2% after US Foods said it is no longer pursuing a merger with the company.
Earnings Reports(11/24/2025)
Agilent Technologies Inc (A), Amentum Holdings Inc (AMTM), Keysight Technologies Inc (KEYS), Woodward Inc (WWD), Zoom Communications Inc (ZM).
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 Climb as Technology Shares Rebound

The S&P 500 Index ($SPX) (SPY) today is up by +0.61%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +0.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +1.51%. December E-mini S&P futures (ESZ25) are up +0.61%, and December E-mini Nasdaq futures (NQZ25) are up +1.44%.
US stock indexes are pushing higher today on strength in technology stocks and rising expectations for a December Fed interest rate cut. Semiconductor and AI-infrastructure stocks are adding to last Friday’s rebound after the sectors retreated on concerns over lofty valuations and whether heavy investment in artificial intelligence will boost profitability.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
T-note yields are moving lower today, providing support to stocks, after Fed Governor Christopher Waller said he's advocating for a December rate cut by the Fed due to concerns about the labor market, and then taking a meeting-by-meeting approach starting in January. The 10-year T-note yield is down -1 bp to 4.05%.
The Bureau of Labor Statistics (BLS) canceled its October consumer price report last Friday and said the November report will be released on December 18. Last Wednesday, the BLS said it would not publish an October employment report and noted that it will incorporate those payroll figures into the November report, set to be published on December 16.
The markets will look to this week’s economic news for direction. On Tuesday, Sep retail sales are expected to climb +0.4% m/m and +0.3% m/m ex-autos. Also, Sep PPI is expected to remain unchanged from Aug at +2.6% y/y, and Sep core PPI is expected to ease to +2.7% y/y from +2.8% y/y in Aug. In addition, The Conference Board’s Nov consumer confidence index is expected to fall by 1.2 points to 93.4. Finally, on Tuesday, Oct pending home sales are expected to climb +0.1% m/m. Wednesday brings weekly initial unemployment claims (expected +6,000 to 226,000), Sep capital goods new orders nondefense ex-aircraft and parts (expected +0.3% m/m), the Nov MNI Chicago PMI (expected +0.2 to 44.0), and the Fed Beige Book.
The markets are discounting a 70% chance of another -25 bp rate cut at the next FOMC meeting on December 9-10.
Q3 corporate earnings season is drawing to a close as 466 of the 500 S&P companies have released results. According to Bloomberg Intelligence, 83% of reporting S&P 500 companies exceeded forecasts, on course for the best quarter since 2021. Q3 earnings rose +14.6%, more than doubling expectations of +7.2% y/y.
Overseas stock markets are higher today. The Euro Stoxx 50 is up +0.23%. China’s Shanghai Composite recovered from a 6-week low and closed up +0.05%. Japan’s Nikkei Stock 225 did not trade as Japanese markets closed for the Labor Thanksgiving Day holiday.
Interest Rates
December 10-year T-notes (ZNZ5) today are up by +2 ticks. The 10-year T-note yield is down -2.1 bp to 4.042%. T-notes are slightly higher today after Fed Governor Christopher Waller said he's advocating for a December rate cut by the Fed due to concerns about the labor market, which boosted the chances of a Fed rate cut at the December 9-10 FOMC meeting to 70% from 30% last Thursday. Today's strength in stocks has curbed safe-haven demand for T-notes. Supply pressures are also limiting gains in T-notes as the Treasury will auction $211 billion in T-notes and floating-rate notes this week, beginning with today’s $69 billion auction of 2-year T-notes.
European government bond yields are moving lower today. The 10-year German bund yield is down -0.7 bp to 2.696%. The 10-year UK gilt yield is down -1.4 bp to 4.532%.
The German Nov IFO business climate unexpectedly fell -0.4 to 88.1, weaker than expectations of an increase to 88.5.
Swaps are discounting a 2% chance for a -25 bp rate cut by the ECB at its next policy meeting on December 18.
US Stock Movers
Chip makers and AI-infrastructure stocks are moving higher today, providing support to the broader market. Broadcom (AVGO) is up more than +6% to lead gainers in the Nasdaq 100, and Western Digital (WDC) is up more than +6%. Also, Micron Technology (MU) is up more than +5%, and Advanced Micro Devices (AMD), Marvel Technology (MRVL), and Lam Research (LRCX) are up more than +3%. In addition, KLA Corp (KLAC), Applied Materials (AMAT), Intel (INTC), and ARM Holdings Plc (ARM) are up more than +2%.
Healthcare insurers and providers are moving higher today after Politico reported the Trump administration is preparing a two-year health insurance premium tax credit extension. Centene (CNC) is up more than +7% to lead gainers in the S&P 500. Also, Elevance Health (ELV) is up more than +4% and Molina Healthcare (MOH) is up more than +3%. In addition, UnitedHealth Group (UNH) is up +0.60%.
Inspire Medical Systems (INSP) is up more than +18% after Nephron Research LLC upgraded the stock to buy from hold with a price target of $145.
Lumentum (LITE) is up more than +9% after Needham & Co. raised its price target on the stock to $290 from $235.
Carvana (CVNA) is up more than +5% after Wedbush Securities upgraded the stock to outperform from neutral with a price target of $400.
Merck & Co. (MRK) is up more than +3% to lead gainers in the Dow Jones Industrials after Wells Fargo Securities upgraded the stock to overweight from equal weight with a price target of $125.
Bristol-Myers Squibb (BMY) is up more than +3% after peer developer, Bayer AG, said an experimental stroke-prevention drug showed positive results in a late-stage study.
Biogen (BIIB) is up more than +2% after rival Novo Nordisk said the pill version of its Ozempic failed to slow the progression of Alzheimer’s disease in two late-stage studies.
Frontline Plc (FRO) is down more than -5% after Clarksons Securities downgraded the stock to neutral from buy.
PureCycle Technologies (PCT) is down more than -5% after TD Cowen downgraded the stock to hold from buy.
Performance Food Group (PFGC) is down more than -2% after US Foods said it is no longer pursuing a merger with the company.
Earnings Reports(11/24/2025)
Agilent Technologies Inc (A), Amentum Holdings Inc (AMTM), Keysight Technologies Inc (KEYS), Woodward Inc (WWD), Zoom Communications Inc (ZM).
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 Tech and Fed Rate Cut Expectations

Key Points
Politico reports the Trump Administration may extend Obamacare subsidies by two years.
Centene depends heavily on ACA policies to grow its business.
Health insurer Centene (NYSE: CNC) is helping lead the stock market higher this morning, rising 8% through 11:05 a.m. on positive healthcare news out of Washington, D.C.:
It looks like Obamacare subsidies are here to stay.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
A healthcare compromise in Washington
That's what Politico thinks. The news site says the Trump administration may extend Affordable Care Act (ACA) subsidies, which are due to end next month -- the basis for the recent government shutdown -- for an additional two years. Such a move would prevent a spike in Obamacare premiums and, as a result, incent more consumers to keep their healthcare policies rather than drop them as unaffordable.
Two conditions of the extension would be to create minimum premium amounts, and also limit subsidies to consumers earning under seven times federal poverty wages. But none of that matters to Centene, really.
What matters to Centene, and its investors, is that Centene credited the ACA with helping grow its commercial marketplace business by 12% in 2024, growing its revenue 4%, and raising its guidance for 2025 as well. A lack of subsidies would have put these accomplishments at risk; their extension is therefore excellent news for Centene.
Is Centene stock a buy?
Is it good enough news to make Centene stock a buy? That's less clear.
Centene is still probably going to lose money this year -- analysts say probably more than $10 a share. It's expected to turn profitable again next year, but may still earn as little as $1.83 per share, according to analysts polled by S&P Global Market Intelligence.
With Centene stock costing nearly $40 a share, that works out to about a 22 times forward P/E ratio. Pretty pricey for a stock whose health depends on the government's generosity, if you ask me.
Should you invest $1,000 in Centene right now?
Before you buy stock in Centene, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Centene wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $562,536!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,096,510!*
Now, it’s worth noting Stock Advisor’s total average return is 981% — a market-crushing outperformance compared to 187% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of November 24, 2025
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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 37.02	S/L 10%RUB 35.07	S/L 15%RUB 33.12
Day	13.79%	0.17%	0.00%
Week	50.70%	16.15%	2.94%
Month	74.61%	49.46%	28.78%

Centene Corporation

Market sentiment

Overall assessment

Share of longs and shorts

Long

Short

Momentum

Protective stop levels