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The state of California announced Tuesday that 28,699 residents completed the eligibility determination process via its online insurance exchange, Covered California. “We’ve started strong,” exchange director Peter Lee said of the ...
The state of California announced Tuesday that 28,699 residents completed the eligibility determination process via its online insurance exchange, Covered California. “We’ve started strong,” exchange director Peter Lee said of the first week’s numbers in a press release. “With almost three months to enroll for coverage effective Jan. 1, the fact that thousands of Californians and hundreds of our small businesses are stepping forward in our first week is a testament to the need for the Affordable Care Act.” Covered California also received 987,440 unique visitors during the first week of the enrollment period. “Looking back at this one week, the response has been nothing short of phenomenal,” Lee said. “We anticipated we’d have very low enrollment in the first week.” Lee estimated that between 500,000 and 700,000 Californians would purchase health insurance policies with the help of a federal tax subsidy by the enrollment period ends on March 31. In total, about 5.3 million state residents will have access to the marketplace’s policies by next year, with about half that number eligible for financial assistance. Plus, approximately 1.4 million people will be newly eligible for Medicaid. Covered California’s numbers exceeded expectations and proved that the concept of online exchanges can be a success at a technical level. With the glitches that marred the opening week of the cornerstone provision of the Affordable Care Act, California’s example is an important success to record, even if it says little about the long-term viability of the individual mandate. Through that mandate, every American who can afford to buy health care insurance is required to do so or pay a penalty of $95 or 1 percent of income — whichever amount is greater. But 44 million Americans are expected to remain uninsured next year, according to the Congressional Budget Office, and those who hold out longer are more likely to be the individuals needed to ensure the success of the individual mandate: the young, healthy, and cheap to insure. To function as intended, the marketplaces need a broad, healthy risk pool to keep staggering rate increases from occurring. The premiums of healthy, cheap-to-insure people cover the big bills for the relatively small number of sick people. So if the exchanges don’t enroll enough young, healthy people, insurers will have to raise everyone’s premiums. What Covered California’s numbers do not show is how many policies have been purchased and who has enrolled thus far. Before October 1, the day the exchanges opened, health policy experts predicted that the first to enroll would likely be those with pre-existing conditions, people who tend to use their benefits more often. Being that California is the most populous state in the country — with more uninsured individuals than any other state, amounting to 7 million, or 15 percent, of the United States’s total — the long-term success of its exchange will be a vital indication of the viability of health care reform as a whole. But due to the fact that California has so many uninsured residents and a quarter of its population lives below the poverty line, the fact that enrollment numbers show higher-than-expected demand may just be a sign that those who would most benefit from the reform are already taking advantage of the new marketplaces, which fits into the framework set out by health policy experts: The majority of early enrollees to the exchanges will likely be proportionally older and sicker, as well as more likely to have been without insurance for some time. Still, the small number of glitches is a good sign. The Healthcare.gov Web portal, which links customers to the online marketplaces for the 36 states with federally facilitated exchanges, was riddled with glitches since the first day enrollment was open. The hours of waiting, backlog of potential enrollees, problems calculating subsidies, and numerous error messages that characterized
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Regis Corporation (RGS) recently delivered its fourth straight earnings miss, driven by a -3.1% decline in same-store service sales and falling profit margins.Analysts revised their estimates significantly lower for Regis after the lates...
Regis Corporation (RGS) recently delivered its fourth straight earnings miss, driven by a -3.1% decline in same-store service sales and falling profit margins.Analysts revised their estimates significantly lower for Regis after the latest miss, sending the stock to a Zacks Rank No. 5 (Strong Sell). Despite the negative earnings momentum, the valuation picture does not look attractive for Regis at this point. Investors should consider avoiding this stock until it can turn things around.Regis Corporation is focused primarily on hair salons. It owns, franchises or holds ownership interests in approximately 10,000 locations across the globe under the brands Supercuts, Sassoon Salon, Regis Salons, MasterCuts and Cost Cutters, among others. Fourth-Quarter Results Regis Corporation reported disappointing results for the fourth quarter of its fiscal 2013 on August 27. Sales fell -5% to $502.3 million, which was below the Zacks Consensus Estimate of $514.0 million. This was
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For investors looking for a growing small-cap company that has attractive valuations and is focused on creating shareholder value, Trinidad Drilling LTD (TDGCF.PK) is a growth oriented, dividend paying oil and gas service company based o...
For investors looking for a growing small-cap company that has attractive valuations and is focused on creating shareholder value, Trinidad Drilling LTD (TDGCF.PK) is a growth oriented, dividend paying oil and gas service company based out of Calgary, Alberta worth consideration.Trinidad Drilling LTD provides modern, reliable, expertly designed oil and gas drilling equipment operated by well-trained personnel. The company's drilling fleet is one of the most adaptable, technologically advanced and competitive in the industry.Over the past couple of years, the Oil and Gas equipment service industry has evolved rapidly. With the introduction of new fracking techniques, horizontal drilling, increased safety regulations and domestic demands showing no signs of slowing down, energy service companies with the financial leverage to make quick adaptations and possess technologically advanced deep drilling rigs that are cost efficient with improved safety features are the companies that will do well in this
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What Megaphone? Tell Us How High Will We Go! Yesterday Art Cashin remarked that (we are paraphrasing): "Everybody is asking me how big a rebound we'll get once the budget impasse is over."Nothing illustrates the current stock market psyc...
What Megaphone? Tell Us How High Will We Go! Yesterday Art Cashin remarked that (we are paraphrasing): "Everybody is asking me how big a rebound we'll get once the budget impasse is over."Nothing illustrates the current stock market psychology better. People are not at all afraid of a big decline because the budget talks may continue to falter - all they are interested in is 'how high will we jump once the rally resumes,' as though a resumption of the rally were a birthright.The reality is though that from a long-term perspective, the market continues to be in a very precarious position. Our friend B.A. has mailed us an updated chart of the SPX megaphone formation we have previously discussed in these pages. We have added an alternative interpretation of the wave count in black brackets to the proposed A-B-C-D(?)-E(?) wave count shown in the chart
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Here’s a look a look at today’s top industries; Auto-parts led the way thanks in part to PRTS exploding: ________________ Here are the top hybrid gainers on the day: (charts). Tickers of interest BSX, BBD, BSBR, CDNS, AU, CER...
Here’s a look a look at today’s top industries; Auto-parts led the way thanks in part to PRTS exploding: ________________ Here are the top hybrid gainers on the day: (charts). Tickers of interest BSX, BBD, BSBR, CDNS, AU, CERE ______________ Here are some other notable stocks on the move, CLICK HERE FOR CHARTS ETFs rising on unusual volume, CLICK HERE ETFs falling on unusual volume, CLICK HERE
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This week's release of energy inventories from the Department of Energy (DoE) showed that crude oil inventories rose by significantly more than expected. While traders were looking for inventories to increase
This week's release of energy inventories from the Department of Energy (DoE) showed that crude oil inventories rose by significantly more than expected. While traders were looking for inventories to increase
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Comcast Corp.’s (NASDAQ:CMCSA) NBCUniversal on Wednesday announced a new partnership with Twitter. A new feature from Comcast called “See It” will allow Comcast subscribers to access shows, movies, and sports programmin...
Comcast Corp.’s (NASDAQ:CMCSA) NBCUniversal on Wednesday announced a new partnership with Twitter. A new feature from Comcast called “See It” will allow Comcast subscribers to access shows, movies, and sports programming simply by clicking on a tweet. The See It function will appear as a button at the bottom of a tweet that mentions an NBC show. Users can click on the button to play the show on their mobile device, instruct their DVR to record it, or start playing it on their home set-top box. The service will debut in November. In addition, NBC will start posting video ads on Twitter using Twitter’s new Amplify service, which posts short videos on the site that are sponsored by ads. Amplify is frequently used to post realtime footage of big moments during sporting events, and it also counts Walt Disney Co.’s (NYSE:DIS) ESPN as a customer. The partnership is a smart move on both ends, as it allows Comcast to take advantage of the fact that people often use Twitter to discuss television and build its presence on social media as pay-TV systems continue to struggle in the face of so-called cord-cutters and online-based streaming services like Netflix (NASDAQ:NFLX). It also gives Twitter a new source of revenue as the microblogging site prepares for its upcoming IPO. “Twitter is where television viewers come to talk about what they’re watching on TV when they’re watching it. Millions of users are exposed to the live conversation that unfolds on Twitter while a show is on the air and now, with See It, they’ll be able to tune in directly from a Tweet,” Twitter CEO Dick Costolo said in a press release. “It’s a great example of Comcast’s leadership in bringing TV to new platforms.” Conversation on Twitter is important to TV, and Twitter knows it. At the end of last month, the site announced a partnership with 21st Century Fox (NASDAQ:FOXA) for the airing of the 2014 Super Bowl, during which Twitter is hoping to break the record for the most-ever tweets for a single event. Amplify will also be used by Fox to post ad-sponsored videos of important moments from the Super Bowl, and that is expected to help Twitter rake in the ad dollars during the big game, as well. Follow Jacqueline on Twitter @Jacqui_WSCS Don’t Miss: 5 Ways Disney Plans to Expand Its ‘Star Wars’ Brand. Read the original article from Wall St. Cheat Sheet
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Outerwall, Inc. (OUTR), formerly known as Coinstar, is in the business of renting DVDs. Renting DVDs might seem a bit odd in this era of video streaming, and you might be forgiven for dismissing Outerwall as a lightweight compared to Net...
Outerwall, Inc. (OUTR), formerly known as Coinstar, is in the business of renting DVDs. Renting DVDs might seem a bit odd in this era of video streaming, and you might be forgiven for dismissing Outerwall as a lightweight compared to Netflix (NFLX), which is in the video-streaming business. In fact, a big chunk of Outerwall investors seem to share this sentiment, and have been dumping Outerwall shares in the past few weeks at an alarming rate. But hard facts about Outerwall prove just the opposite: the company is actually outperforming Netflix in several key arenas.Outerwall shares tanked a massive 19% in the space of just four days in September, after the company's management cut its earnings and revenue forecasts for the current fiscal year. The huge loss more than wiped out all the gains made by the stock since January to July. (click to enlarge) Outerwall lowered its revenue
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The use of pre-paid cards continues to climb as corporations; Governments and individuals increasingly rely on them as a portable, unobtrusive and convenient method for paying workers, providing social service benefits, and paying for go...
The use of pre-paid cards continues to climb as corporations; Governments and individuals increasingly rely on them as a portable, unobtrusive and convenient method for paying workers, providing social service benefits, and paying for goods and services. Demand for these cards is set to move significantly higher from here, suggesting its time for investors to get involved in companies most likely to profit.One of the biggest players in the pre-paid card market is The Bancorp (TBBK), a small cap bank focused on niche financial service markets.The Bancorp has seen its score improve in the system used by my firm, E.B. Capital Markets, LLC suggesting it's a good time to consider how rising growth in pre paid is likely to send shares higher.Source: E.B. Capital Markets, LLCAfter reviewing the company's SEC filings, press releases, earnings transcripts and marketing material, it's clear the bank is well positioned to
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Greek Bailout Debt Swap Mooted How can one continue to pretend that the government of a country that has been in technical default for 90 of the past 180 years and remains clearly bankrupt even after two major bailouts and two 'debt hair...
Greek Bailout Debt Swap Mooted How can one continue to pretend that the government of a country that has been in technical default for 90 of the past 180 years and remains clearly bankrupt even after two major bailouts and two 'debt haircuts' in a row will somehow 'make it' and actually repay its debts one day?The answer is: extend and pretend. As reported by Reuters, Greece, the EU's major leading indicator in terms of bailout policy, is proposing just that solution: "Greece is looking into swapping a big chunk of its bailout loans with a 50-year government bond as a way to achieve debt relief once it attains a primary budget surplus this year, an official close to the discussions told Reuters on Saturday. Twice bailed out with 240 billion euros by its euro zonepartners and the International Monetary Fund, Greece aims at a primary budget surplus
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