Centene & Health Net
The medicaid insurer Centene is buying Health Net in a cash-and-stock deal valued at over $6 billion. This comes as health insurers have been increasingly combining to cut costs and grow. Health net popped ten percent to $71.57. Centene fell eight percent to $74.44.
Shares of Xoom literally zoomed on news PayPal will buy the online money transfer company. The deal, worth about $900 million comes a few weeks before PayPal will spinoff from eBay. The stock popped 21 percent to $25.05.
Shares of Yelp tumbled today on a Bloomberg report that the company has stopped its search for a buyer. The online review company had hired Goldman Sachs to help it find a suitor, but it will hold off on the sale for the immediate future. The stock fell ten percent to $38.18.
Hertz has ended its relationship with Ryanair over an alleged breach of contract. The two companies had an exclusive agreement, which allowed the airline’s customers to book Hertz vehicles through its website. But Hertz says Ryanair’s decision to offer flights through a third party website violates that deal. Shares fell nearly two percent to $17.25.
Anthem & Cigna
Anthem and Cigna are reportedly rekindling merger talks. This after the health insurer rebuffed anthem’s $47 billion merger proposal last month. The buzz comes as Cigna is reportedly considering a possible acquisition of Humana. Anthem fell one percent to $163.14. Cigna was off a fraction to $161.29.