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Major U.S. indexes were little changed at midday Wednesday, as investors watch developments in the Middle East and the U.S. port strike. The Dow, S&P 500, and Nasdaq were all slightly lower.

Humana (HUM) was the worst-performing stock in the S&P 500 after a large share of the insurer's Medicare offerings were downgraded by the Centers for Medicare and Medicaid Services (CMS).

Shares of Nike (NKE) also fell, a day after the athletic apparel giant withdrew its full-year guidance and pushed back its investor day.

Tesla (TSLA) shares slipped after the electric vehicle maker reported more deliveries than analysts projected for the third quarter, but investors may have had higher expectations.

Conagra Brands (CAG) shares sank as the food maker with brands such as Duncan Hines and Slim Jim reported profit and sales that missed estimates as it faced a “challenging environment.” 

Lamb Weston Holdings (LW) shares climbed after frozen potato products company announced a major restructuring that includes closing a plant, production cuts, and layoffs.

Shares of Caesars Entertainment (CZR) gained as the hotel and casino operator said it would buy back half a billion dollars in stock after its current repurchase program ends.

Diamondback Energy (FANG) shares also rose as Barclays upgraded the stock, pointing to the benefits of the oil company’s $26 billion purchase of Endeavor Energy Resources. 

Oil futures climbed and gold prices declined. The yield on the 10-year Treasury note was higher. The U.S. dollar was up versus the euro, pound, and yen. Most major cryptocurrencies traded lower. 

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Shares of health insurance provider Humana (HUM) plunged to their lowest level since 2020 after a large share of its Medicare offerings were downgraded by the Centers for Medicare and Medicaid Services (CMS).

Roughly 25% of Humana members, about 1.6 million people, are currently enrolled in plans that have a 4-star or higher Medicare Advantage rating for 2025, according to preliminary data—a massive drop from 94% in 2024. 

Humana could take a substantial revenue hit if the preliminary data stands when CMS releases its official ratings later this month, as higher star ratings generate bonus payments for the insurers that offer them.

The company said it is "disappointed" with its performance and suggested there may be errors in the way the ratings were calculated. CMS star ratings review plan performance once a year on factors such as the number of annual screenings and preventive services offered, how long it takes to get an appointment, and complaint levels. 

“Humana is exploring all available options to mitigate the expected 2026 revenue headwind related to its 2025 Star ratings in the event its challenges to the results are unsuccessful,” the company said in a regulatory filing Wednesday, noting the changes are not expected to affect its outlook in 2024 or 2025. 

Those options could include suing CMS, as Elevance Health did successfully last year. The insurer was able to recover money that was at risk due to lower star ratings.

Humana shares tumbled more than 17% in intraday trading Wednesday, and have lost nearly half of their value since the start of the year.

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Cal-Maine Foods (CALM) shares hovered near their all-time high set yesterday as the largest U.S. producer and distributor of eggs reported higher prices sent revenue soaring.

The company's fiscal 2025 first-quarter sales skyrocketed 71% to $785.9 million, $120 million more than analysts surveyed by Visible Alpha had anticipated. Earnings per share (EPS) came in at $3.06, also above estimates.

The company set quarterly records for total dozens and specialty dozens sold. Total dozens sold rose 13.5% to 310.0 million, and sales of specialty dozens increased 20.1% to 110.0 million.

Chief Executive Officer (CEO) Sherman Miller said the results "reflect favorable demand for shell eggs during most of the quarter and significantly higher market prices compared with the first quarter last year." He noted that in addition, the outbreak of avian flu significantly cut into egg supplies.

Miller added that the company believes that "today's consumers are looking for affordable and nutritious protein options and that our shell eggs and egg products meet that need."

Cal-Maine has a variable dividend policy based on net income, and it announced that for the fourth quarter of fiscal 2024 investors would receive $1.02 for every share they own. That is $0.25 more than the company had predicted previously. 

Shares of Cal-Maine Foods, which touched a record $77.11 yesterday and were at $76.93 an hour after the opening bell Wednesday, have added a third of their value this year.

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The Federal Government has urged Nigerians in Lebanon to evacuate the country due to Israeli forces’ att@cks on Hezbollah and surrounding areas.

The Nigerians in Diaspora Commission, NIDCOM, made the call on Wednesday, October 2, in a statement signed by its spokesman, Abdur-Rahman Balogun.

NIDCOM said although information from the Nigerian community in Lebanon indicated that most Nigerians had relocated from the southern part and were relatively safe, “we hereby advise them to keep safe until the ceasefire is in place.”

“Worried by the att+cks on Hezbollah and other areas in Lebanon by the Israeli government, the Nigerians in Diaspora Commission (NIDCOM) is hereby advising Nigerians resident in Lebanon to consider moving out of the country now that commercial flights are still in operation.

Nigerians are equally advised to liaise with our Embassy in Lebanon for necessary guidance regarding their safety and rest assured that their welfare and safety is of utmost concern to President Bola Ahmed Tinubu,” the statement reads.

#Instablog9jaNews #Information #Awareness #StayUpdated

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Shares of energy giants, including ExxonMobil (XOM) and  Chevron (CVX), are extending gains in premarket trading Wednesday as worries of a broader Middle East conflict lift oil prices. 

Crude prices are rising around 3% after Iran launched a ballistic missile attack on Israel. Brent crude futures surpassed the $75-per-barrel level they briefly crossed Tuesday on fears of supply constraints, while the U.S. benchmark, West Texas Intermediate (WTI), is at almost $72 per barrel.

The conflict in the Middle East, apart from raising humanitarian concerns, has "contributed to periods of market volatility, amid concerns that a regional war could interrupt oil supplies," UBS Global Wealth Management Chief Investment Officer (CIO) Mark Haefele said in a note.

Haefele said that while the firm's base case isn't for an all-out war, "positions in oil can serve as a portfolio hedge against a worsening crisis in the Middle East, while market fundamentals are also positive."

ExxonMobil shares, which have gained almost 20% year-to-date, were rising 1.7% in premarket trading. Those of rival Chevron, whose $53 billion acquisition of Hess (HES) was cleared this week, are up around 1.6%. Shares of Occidental Petroleum (OXY) and ConocoPhillips (COP) are rising around 1.4% and 1.6%, respectively.

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Nearly a quarter of Americans don't check their credit scores once a year, according to a recent survey, leaving them in the dark about an important component of their credit health.

According to the survey by BadCredit.org, 73% of Americans don't check their credit scores on a regular basis. Credit scores can determine where you can live, what you can drive and sometimes what jobs you can hold.

Credit scores may even be more important as more Americans are utilizing credit cards to help afford elevated living costs. Three-fourths of respondents said they have reduced their spending, while 40% have dipped into savings to keep up with expenses.

More people are becoming delinquent in their credit payments, which can hurt a cardholder's credit score.

In addition to not checking their credit score, a significant portion of respondents didn't know how to maintain a good credit score.

A credit score is calculated using five factors: on-time payment history, credit utilization ratio, length of credit history, types of credit held, and new credit.

The survey found that 26% of respondents did not know the benefits of maintaining a low credit utilization ratio, the percentage of a borrower’s total available credit they are currently using.

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