Hospital stocks jump after health care ruling
by Daniel Wagner, AP Business Writer
June 28, 2012 10:35 AM | 318 views | 0 0 comments | 3 3 recommendations | email to a friend | print
WASHINGTON (AP) _ Stocks of hospital companies rose sharply Thursday after initial reports said the Supreme Court had upheld the individual insurance requirement in President Barack Obama’s health care overhaul.

HCA Holdings stock rose 8 percent, and Community Health Systems stock also rose 8 percent.

Stocks of big insurance companies dropped sharply when the ruling came out shortly after 10 a.m. EDT, then climbed back somewhat. They were down about 1 percent, roughly the same as stocks in the broader market.

Stocks of drug companies and medical device makers were also slightly lower.

Chief Justice John Roberts announced the court’s judgment, which allowed the law to go forward with its aim of covering more than 30 million uninsured Americans.

Comments
(0)
Comments-icon Post a Comment
No Comments Yet
*We welcome your comments on the stories and issues of the day and seek to provide a forum for the community to voice opinions. All comments are subject to moderator approval before being made visible on the website but are not edited. The use of profanity, obscene and vulgar language, hate speech, and racial slurs is strictly prohibited. Advertisements, promotions, spam, and links to outside websites will also be rejected. Please read our terms of service for full guides