Stock Watch: Healtheon/WebMD Falls After Announcing Losses

Healtheon/WebMD Corp. (Nasdaq: HLTH) fell 6 9/16 to 51 15/16 Friday after the company said costs associated with combining recently acquired businesses led to wider-than-expected losses for the fourth quarter and year. The Internet health-care company — itself the product of the November merger of Healtheon, Inc. and WebMD Corp. — has been on an acquisition binge in recent months.

Friday’s news also sent shares of some Healtheon target companies lower: Careinsite, Inc. (Nasdaq: CARI) fell 8 1/4 to 63 9/16, and its parent, Medical Manager Corp. (Nasdaq: MMGR), dropped 8 5/8 to 79 . The two firms agreed to be acquired by Healtheon/WebMD on February 14th.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

LinuxInsider Channels