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Coventry Health cuts 2008 profit outlook
AP/Yahoo News, March 18, 2008
Coventry Health Care Inc. has lowered its full-year earnings forecast due to higher-than-expected flu-related medical costs and lower than anticipated income from its investments. The company said a lowering of the Federal Reserve's key federal funds rate has squeezed its first-quarter net investment income and will likely continue to pressure its results as rates are cut further during 2008.
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