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WellPoint’s 3Q profit falls 5 pct, forecast climbs
San Francisco Chronicle

WellPoint Inc.’s third-quarter earnings fell 5 percent, but the nation’s second-largest health insurer’s results topped Wall Street expectations. The company hiked its 2013 forecast, citing in part gains it expects from the health care overhaul.

Shares of the Indianapolis company jumped in premarket trading Wednesday about three hours before the market opening. The Blue Cross Blue Shield insurer said its performance so far and coming market changes under the overhaul prompted it to raise its forecast for 2013 adjusted earnings to at least $8.40 per share. That’s up from its previous forecast for at least $8 per share and well beyond the $8.26 per share average that analysts surveyed by FactSet expect.