Stocks Snap Winning Streak
Humana( HUM) , the health care company, reported first-quarter earnings Monday of $248 million, or $1.49 a share, down from year-earlier earnings of $315 million, or $1.86 a share. First-quarter earnings included a gain of 3 cents a share from previous medical claim reserves; year-earlier earnings included a gain of 31 cents a share. Humana was expected by analysts to report first-quarter earnings of $1.52 a share.
Humana raised its full-year 2012 guidance to between $7.55 a share and $7.75 a share from a previous range of between $7.50 a share and $7.70 a share. Analysts were calling for earnings of $7.99 a share. The stock tumbled 8%.
In commodity markets, the June crude oil contract fell 60 cents to settle at $104.87 a barrel on eurozone economic concerns. June gold futures settled flat at $1,664.20 an ounce, recovering from earlier lows.
The benchmark 10-year Treasury was rising 5/32, diluting the yield to 1.923%. The dollar was rising by 0.1% against a basket of currencies, according to the dollar index.
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--Written by Andrea Tse and Shanthi Bharatwaj in New York.
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