Seeking Alpha’s roundup of statements, announcements, and remarks that could impact markets, sectors, or individual stocks.
- The Centers for Medicare & Medicaid Services said it is proposing only a 0.09% net average payment increase for Medicare Advantage plans as part of its proposed policies for 2027.
“These proposed payment policies are about making sure Medicare Advantage works better for the people it serves,” said CMS Administrator Dr. Mehmet Oz in a statement.
“By strengthening payment accuracy and modernizing risk adjustment, CMS is helping ensure beneficiaries continue to have affordable plan choices and reliable benefits, while protecting taxpayers from unnecessary spending that is not oriented towards addressing real health needs,” Oz added.
Wall Street analysts had been expecting an increase of 4% to 6%, according to CNBC.
Leading providers of Medicare Advantage plans include CVS Health (CVS), UnitedHealth (UNH), Humana (HUM), Centene (CNC), Cigna (CI), Molina (MOH), and Elevance (ELV).
- United Parcel Service (UPS) said it plans to cut up to 30,000 jobs as it winds down its partnership with Amazon (AMZN).
“In terms of variable costs, we expect to reduce operational positions by up to 30,000,” UPS CFO Brian Dykes said during an analyst call, according to CNBC. “This will be accomplished through attrition, and we expect to offer a second voluntary separation program for full-time drivers.”
- The European Union has begun operating a new communications satellite network aimed at providing an alternative to Starlink (STRLK) and other U.S. providers.
The IRIS2 and GOVSATCOM networks went online for government and military use last week, with plans underway to also provide access to Ukraine, according to Bloomberg.
“All member states can now have access to sovereign satellite communication. Military and government. Secure and encrypted. Built in Europe—operated in Europe, under European control,” Defense and Space Commissioner Andrius Kubilius said at an event on Tuesday. “Experts are saying it would be better than Starlink. This is our ambition.”
The IRIS2 network is expected to be fully operational by 2030, serving both the private and public sectors. The satellites are being constructed by Luxembourg’s SES, France’s Eutelsat (EUTLF) (ETCMY), and Spain’s Hispasat, Bloomberg added.
Starlink is owned by Elon Musk’s SpaceX (SPACE).