Amerigroup Corp. (NYSE:AGP), which is a Medicaid insurer, shares jumped almost 50 percent, which represents four times its benchmark’s return. States typically farm out part or all of their Medicaid programs, so investors moved money to the firm. This is the second rally for Amerigroup this week; the first occurred when WellPoint (NYSE:WLP) announced that it would buy the company. Shares closed up 0.32 percent on the day at $89.95, and have traded in a 52-week range of $37.57 to $89.88.
Cytec Industries Inc (NYSE:CYT) will post its second quarter earnings release and updated full year 2012 guidance on July 19th. The quarter’s impressive results were fueled by a strong performance in the In Process Separation and Coating Resins division segments. Engineered Materials and Additive Technologies performed well and are in-line with prior guidance. Left out of adjusted earnings per share amounts are restructuring and other charges that are linked to the Coating Resins sale process and the purchase of Umeco. Shares closed up 3.94 percent on the day at $61.14, having traded in a 52-week range of $32.02 to $65.00.
Johnson & Johnson (NYSE:JNJ): Some 16 emerging markets, including Brazil, China and Russia, will make up one third of worldwide drug expenditures within the next four years, and increasing spending in emerging pharmaceutical markets will drive the industry’s global sales growth by 2016, according to Bloomberg, citing a report by the IMS Institute for Healthcare Informatics. Shares closed up 1.33 percent on the day at $68.61, and have been traded in a 52-week range of $59.08 to $68.15.
Kennedy-Wilson Holdings, Incorporated’s (NYSE:KW) acquisition of the six-story, 272,826 RSF, Class A office building located at 1900 State College Boulevard in Anaheim, raises Kennedy Wilson’s total office portfolio to 3.6 million square feet. Shares closed up 0.49 percent on the day at $14.50, having been traded in a 52-week range of $10.08 to $14.46.
US Airways Group Inc (NYSE:LCC), which intends to acquire AMR Corp.’s (AAMRQ) American Airlines, supports the latter’s request for more time to develop a bankruptcy restructuring plan, according to Bloomberg. Shares closed up 3.44 percent on the day at $14.45, and have been traded in a 52-week range of $3.96 to $14.42.
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