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Healthcare Stocks Advancing; UnitedHealth Slides More Than 5% Following Q3 Revenue Miss

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Healthcare stocks are higher, with the NYSE Healthcare Sector Index rising 0.5% and shares of healthcare companies in the S&P 500 climbing 0.5% as a group.

In company news, UnitedHealth Group ( UNH ) is down more than 5.2% at $71.28 a share after the healthcare insurer reported $30.62 billion in Q3 revenue, trailing the Capital IQ consensus by around $270 million.

The company earned $1.53 per share, in line with estimates.

Looking forward, UNH expects FY13 EPS in a range of $5.40 to $5.50, up from its prior forecast of $5.35 to $5.50 but still trailing the Street view by at least $0.01.

The company also reaffirmed its outlook of around $122 billion in revenue this year, also lagging the consensus call by $1.11 billion.

In other sector news,

(+) ORB, (+4.3%) Q3 EPS of $0.26 beats by $0.03 but revenue lags consensus view. Reduces top end of FY13 revenue guidance but remains in-line with Street view. Defers FY14 guidance due uncertainty over U.S. government spending.

(-) AMRN, (-61.2%) U.S. Food and Drug Administration advisory committee declines to recommend its supplemental new drug application for its fish-oil derived cholesterol drug Vascepa.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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