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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

6/11/12

Centene Corp (CNC)

Centene Corp was beat up today, down 22.19% at $27.60. Centene shares fell last week on worries that it would be pressured by the same cost troubles that have been weighing on rival Molina. Today, the company confirmed those fears, stating that it also is seeing significantly higher costs and claims in Kentucky and its Celtic individual health business. The higher costs and claims caused them to lower their outlook for the second quarter. Centene expects to post a loss in the second quarter and now sees full-year EPS of $1.45-$1.65, down substantially from its prior view of $2.64-$2.84. The company hit a new 52-week low earlier today, and is down around 50% from its highs in April. Regardless, some Wall Street analysts still remain bullish on the growth potential of the stock.

Micronetics Inc. (NOIZ)

Micronetics had an explosive day up, 94.26% at $ 14.55. The company engages in the design and manufacture of radio frequency (RF), microwave components and sub-assemblies for defense and commercial customers. Today, the company saw a huge jump when news broke that it would be bought by Mercury Computer Systems (MRCY). Mercury Computer said it would pay $14.80 per share or $75.4 million (including $3.7 million of debt) in a cash deal. CEO for Mercury, Mark Aslett said, "We are pretty excited about the potential and combination of our two businesses." In response, CEO for Micronetics, David Robbin stated, "After careful deliberation, we on the board of directors believe it is time that we seized the opportunity that validated and recognized our strategic and financial achievements, and at a price that represents a very attractive return for our shareholders."
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