Health Net Stock Falls on Lower Outlook

Shares of Health Net Inc. fell 24 percent this morning after the managed health provider reported a strong second quarter but lowered its earnings forecast. RTTNews.com reports that the Woodland Hills company reduced its full-year guidance to a range of $1.45 to $1.55 a share, down from a previous outlook of $2.85 to $3. Analysts had been expecting $2.28 a share on average.