BUZZ -Centene rises on surprise quarterly profit

Shares of health insurer Centene CNC.N rise 10.5% to $36.71 in late morning trading

Stock set for its best day in three years, if gains hold

Co reports Q3 adj. profit of 50 cents/shr vs analysts' average estimate of a loss of 14 cents/shr - LSEG data

Co forecasts annual adj. profit of at least $2.00/shr, up from prior view of about $1.75 - CNC

Analysts had expected $1.68/shr profit for 2025, per LSEG data

Oppenheimer analyst Michael Wiederhorn expects investors to be very pleased with these results and outlook, given the challenging operating environment and its peers noting elevated Medicaid costs and pressures in Obamacare plans

Including sessions move, stock down ~40% YTD