What to Watch: July 9, 2012

Financial News Network
July 12, 2012 AT 1:38 PM
Good morning, welcome to the Financial News Network, your source for the latest business news. Here's a few things to watch for in the financial world today July 9. Wellpoint (NYSE:WLP.N), one of America's big health insurers is making a big bet this morning. The company announced it will be acquiring rival Amerigroup Corp (AGP.N) for $4.46 billion in hopes on an expansion of government-run Medicaid health plans. This comes after the Supreme Court's constitutional ruling on President Obama's healthcare law which potentially will extend coverage to more than 30 million uninsured Americans. Wellpoint expects a boost to earnings per share by more than $1 in 2013. The deal is expected to close some time in the first quarter of next year.Just before earnings season kicks off Sirius XM Radio (SIRI) gives some hope to investors as it lifts its forecast for revenue and subscriber growth. The company now expects revenue of $3.4 billion for the year, up from the $3.3 billion projected in May. Sirius XM also said subscribers will be up 100,000 from the previous estimate to 1.6 million. The company has been cutting costs and focused on expanding their subscriber base to increase their earnings over recent quarters. Their second-quarter results will be released on August 7.Finally, juice company Jamba Juice is popular on Wall Street this morning. The company has had great sales this summer due to the heat waves across the United States. Over the last 30 days the stock has risen 22%. The company also released a press release today showing that they are continuing to expand. A new store is opening in Washington D.C.'s Dupont Circle today with Venus Williams as the main investor in the project. The highly publicized grand opening tonight only shows that Jamba Juice isn't going anywhere and is definitely poised for even more growth in the coming months.Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world check us out at or follow us on twitter @FNNOnline. I'm Chuck Pierce.