Centene Lowers 2012 Forecast; Shares Tumble In Pre-Market Trading

Shares of Centene Corp

dipped more than 26% in pre-market trading after the company lowered its full-year earnings forecast. It also projects to post a second-quarter loss. It now projects 2012 earnings of $1.45 to $1.65 per share, versus its earlier forecast of $2.64 to $2.84 per share. Analysts were expecting full-year earnings of $2.68 per share. Centene shares dropped 26.70% to $26.00 in pre-market trading.