WellPoint Trading Lower After Q2 Earnings Announcement

WellPoint (NYSE: WLP) is trading lower on the session following its Q2 earnings announcement. The company reported an EPS of $2.04 vs $2.08 estimates and revenues of $15.41 billion vs $15.27 billion estimates. WellPoint also lowered its FY 2012 EPS guidance. Angela F. Braly, chair, president and chief executive officer stated: “While our second quarter EPS results improved from the prior year and are ahead of our plan through the first six months, the combination of lower enrollment and slightly higher medical cost trends are driving a reduction in our full year 2012 outlook. We are disappointed with the need to lower our guidance, but believe it is the right action to take, given the challenging market we see, our commitment to maintaining pricing discipline and our intention to continue investing for the strong future growth opportunities ahead of us."WellPoint is currently trading at $54.00, a loss of $7.42 or 12.08%.