Shares of Humana dropped as investors worried about higher costs. The insurer’s profit matched estimates and revenue came in above the expected range. That as the company saw strong membership growth in part because of the public health exchange. But second-quarter profit was down from a year ago because of higher costs, which the insurer attributed to medical spending from those new enrollees on the public exchanges. The stock fell more than 5.5 percent to $120.34.
Those worries also weighed on WellPoint, even though the company posted earnings that trumped estimates and better-than expected revenue. Profit fell in the quarter, which it also said was because of higher costs stemming from the healthcare reform law. The insurer raised its profit expectations for the year. Still shares finished slightly lower at $112.47.
Sprint posted a surprise profit in its second quarter, but it lost subscribers, which put a damper on its earnings report. The company was able to expand its high-speed coverage and make progress completing its overhaul to stop calls from dropping. Still, shares fell three percent to $7.76.
Insurance giant Metlife saw its quarterly profit more than double, helped by derivative gains and the Chilean business it acquired last year. Despite that, earnings came in lower than analysts were expecting. Shares dropped right after that report. During the regular session the stock was up a fraction to $54.44.
Whole Foods Market saw its third quarter earnings rise, but the company lowered its sales projections for the fiscal year. The supermarket chain also said same-store sales were up, but not as much as analysts were expecting. On that shares plunged initially after-hours trading. During the regular session the stock was up almost four percent to $39.11.
In Kraft’s after-hours earnings report the company said second quarter sales were crimped because it hiked prices. Profit fell more than 40 percent in the quarter since a slight increase in revenue couldn’t offset the extraordinary gain it had last year. Shares didn’t move much initially after-hours. During the regular session the stock was slightly lower at $57.24.