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WellPoint Forecast Misses Expectations

WellPoint, which owns Thousand Oaks-based Blue Cross of California, announced that it expects to report earnings of $4.69 per share in 2006, while analysts were expecting about $4.76. The company’s stock fell 3.4 percent to $76.40 on the news. WellPoint was optimistic in reporting its coming year, and said that it has developed a new strategic plan to address its coming challenges. The company is looking to grow enrollment by 3 percent next year, increase revenue by eleven percent and cut overhead costs to meet its goal of fifteen percent earnings growth per year.

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