WellPoint announces Q2 profits up

Health insurance giant WellPoint said its second-quarter profit was up sharply, news which comes as little surprise. The company said net income for the quarter was $559.4 million, an increase which reflects the company's merger with Anthem late last year. The results include a $135 million charge WellPoint took earlier this month as it settled a class-action suit with doctors alleging the company systematically underpaid them. As of June, the Indianapolis-based Blue Cross Blue Shield licensee reports total membership standing at 28.8 million.

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PLUS: Also reporting second-quarter results today was the nation's largest hospital chain. HCA said profits were up 15 percent on a one-time tax gain. That's despite a slight 0.3 percent drop in admissions which may worry some analysts. The company reports ER visits are up 3.4 percent. Story

ALSO: Health Management Associates, which operates 57 hospitals in 16 states, says its second-quarter net income is down slightly over last year at $86.3 million. Story