Molina Healthcare Inc (MOH) News & EventsMOHNews & EventsMolina Healthcare Inc

Nasdaq Composite Declines as Tesla Earnings Weigh

Despite the third consecutive session of gains by Semiconductors, Nasdaq Composite was the worst performing major index, ending the day near session lows below the 25,700 level. Losses among key software names as well as new low in SpaceX, down another 7%, weighed on the tech-heavy index. In the benchmark S&P 500 Utilities was the best performing sector, followed closely by Basic Materials which benefited from a bounce in precious metal space. Communication Services was the worst performing sector as Google fell 1.5% and Meta declined nearly 3%.In the opening hour of the evening session, equity futures remain on the back foot as S&P 500 e-minis falls 0.3% and Nasdaq 100 contract is down by 0.5%. Sentiment is pressured by earnings reports from Tesla, which fell over 4% on Q2 earnings miss and reiterated expectations of climbing capital expenditures, as well as Alphabet, down 3% - where selling was similarly driven by higher capex forecasts. Also reporting results was IBM, though despite the cut in its revenue growth guidance, the stock is flat, having found support after the pre-announcement earlier this month that yielded a 25% selloff.In commodities, WTI crude oil remains bid near the $88 per barrel level, with tensions in the Middle East not showing any signs of letting up. Gold and silver traded higher for the third consecutive day, rising above $4,170 and $59 per ounce levels.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Medpace Holdingsup 18.3%United Rentalsup 8.7%Kaiser Aluminumup 5.6%ServiceNowup 5.1%CSX Corporationup 4.4%DOWN AFTER EARNINGS -Rollinsdown 15.5%Molina Healthcaredown 9.4%Las Vegas Sandsdown 5.4%Tesladown 4.6%Alphabetdown 3.4%Texas Instrumentsdown 3.1%Knight-Swift Transportationdown 1.5%AvalonBay Communitiesdown 1.4%IBMdown 0.4%

Company Reports Q2 Revenue of $10.87B, Beating Expectations

Reports Q2 revenue $10.87B, consensus $10.78B. "Our second quarter results and full year guidance reflect solid performance in our Medicaid and Medicare segments," said Joseph Zubretsky, President and Chief Executive Officer. "The imbalance between Medicaid rates and medical cost trend appears to have stabilized and is well positioned to be corrected with future rate increases. This reinforces our belief that 2026 is the trough year for Medicaid pretax margins. We remain confident in our disciplined approach to medical cost management and believe the premium and EPS building blocks position us well for profitable growth in 2027."

Company Raises 2026 GAAP EPS Guidance to At Least $2.15

Consensus $5.16. The Company increased its full year 2026 GAAP earnings to at least $2.15 per diluted share and its full year 2026 adjusted earnings to at least $5.25 per diluted share. The increase to earnings guidance reflects first half performance in Medicaid. Based on developing medical cost trends, a $1.50 increase in earnings per share in Medicare is offset by a $1.50 decrease related to Marketplace. Excluding the downward revision in the Marketplace guidance, the full year guidance would have increased to $6.75 per share. Full year guidance includes a loss of $1.50 per share due to the implementation of the new Florida Medicaid contract in the fourth quarter of 2026 and a loss of $1.00 per share due to performance of the traditional MAPD product, which the Company previously announced it will exit for 2027.