Life

States With the Most Cases of COVID-19

Centene Reaffirms 2021 Guidance; Evaluating Strategic Alternatives For International Business

Centene Corporation (CNC) reaffirmed its 2021 total revenues guidance in the range of $125.2 billion to $126.4 billion and adjusted earnings per share guidance in the range of approximately $5.05 to $5.15.

For fiscal 2022, the company expects: total revenues of $135.9 billion to $137.9 billion; and adjusted earnings per share of $5.30 to $5.50. The company noted that its 2022 guidance includes the Magellan Health acquisition.

Centene said, in conjunction with the Value Creation Plan, the company is reviewing its non-core assets as part of its ongoing portfolio optimization processes, including evaluating strategic alternatives for its international business. The company expects share repurchases to play a more meaningful role in 2022 and beyond, in terms of returning additional value to shareholders.

For 2024, Centene is targeting adjusted earnings per share range of $7.50 to $7.75, with the mid-point representing a 50% increase from the mid-point of the full year 2021 guidance.

Lucid Faces SEC Probe About SPAC Acquisition

A newly listed electric vehicle company, Lucid Motors (LCID) announced on Monday that it is under investigation by the SEC about the shell company that was made to take the company public without offering any IPO.

The company said that it received a subpoena on Friday from the SEC asking the company about certain aspects concerning its merger deal with the Churchill Capital Corporation IV which helped the company get listed in July with a market capitalization of $20 billion.

Lucid said that it received the subpoena “requesting the production of certain documents related to an investigation by the SEC.”

The Saudi-owned company has recently was set up in 2007 and it was bought by Saudi Arabia’s sovereign wealth fund in 2018. Lucid raised more than $4 billion after going public and it started to deliver its vehicles in late October. Its only car, the Luci Air Dream, is an all-electric sedan with a 520 miles range on a full charge. The range of the car puts it ahead of all the Tesla models and it won the MotoTrend car of the year award.

However, the stock of the company tumbled after the SEC probe news caught wind. The stock has been plunging since the end of November and is trading at $44.75, down $2.52 or 5.33% since the previous close at $47.27. The stock has dropped approximately 13% since the start of December

Lucid Faces SEC Probe About SPAC Acquisition

A newly listed electric vehicle company, Lucid Motors (LCID) announced on Monday that it is under investigation by the SEC about the shell company that was made to take the company public without offering any IPO.

The company said that it received a subpoena on Friday from the SEC asking the company about certain aspects concerning its merger deal with the Churchill Capital Corporation IV which helped the company get listed in July with a market capitalization of $20 billion.

Lucid said that it received the subpoena “requesting the production of certain documents related to an investigation by the SEC.”

The Saudi-owned company has recently was set up in 2007 and it was bought by Saudi Arabia’s sovereign wealth fund in 2018. Lucid raised more than $4 billion after going public and it started to deliver its vehicles in late October. Its only car, the Luci Air Dream, is an all-electric sedan with a 520 miles range on a full charge. The range of the car puts it ahead of all the Tesla models and it won the MotoTrend car of the year award.

However, the stock of the company tumbled after the SEC probe news caught wind. The stock has been plunging since the end of November and is trading at $44.75, down $2.52 or 5.33% since the previous close at $47.27. The stock has dropped approximately 13% since the start of December

Costco Wholesale Corporation Q1 Income Climbs

Costco Wholesale Corporation (COST) announced a profit for its first quarter that increased from the same period last year

The company’s earnings totaled $1.32 billion, or $2.98 per share. This compares with $1.17 billion, or $2.62 per share, in last year’s first quarter.

The company’s revenue for the quarter rose 16.5% to $50.36 billion from $43.21 billion last year.

Costco Wholesale Corporation earnings at a glance:

-Earnings (Q1): $1.32 Bln. vs. $1.17 Bln. last year.
-EPS (Q1): $2.98 vs. $2.62 last year.
-Revenue (Q1): $50.36 Bln vs. $43.21 Bln last year.

States With the Most Cases of COVID-19

Despite the ongoing vaccination effort, new daily cases of COVID-19 are on the rise in much of the United States.

Since the first known case was identified in the U.S. on Jan. 21, 2020, there have been a total of 48,982,600 reported cases of COVID-19 nationwide — or 14,972 per 100,000 people. Of course, infections are not evenly spread across the country, and some states have far higher infections rates per capita than others. The number of confirmed cases per 100,000 people ranges from as low as 6,013 to as high as 21,758, depending on the state.

The severity of a COVID-19 outbreak across a given state is subject to a wide range of factors. Still, states that had a hands-off approach in the early days of the pandemic are more likely to be worse off today than those that adopted strict measures to control the spread. Arkansas, Iowa, Nebraska, North Dakota, Oklahoma, South Dakota, Utah, and Wyoming were the only states that did not issue a statewide stay-at-home order in March or early April — and of those states, all eight currently have a higher infection rate than the U.S. as a whole.

All COVID-19 data used in this story are current as of Dec. 8, 2021.