Shares of LV HMO jump

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Friday, Nov. 10, 2000 | 11:12 a.m.

Shares of PacifiCare Health Systems Inc., a big health insurer in Las Vegas, rose this morning after the company raised its fourth-quarter profit estimate.

PacifiCare shares rose $4.31 to $15 in late morning trading. But even with that gain, the shares have fallen about 72 percent this year because of earnings shortfalls.

PacifiCare said Thursday it expects its fourth-quarter profit to be about 20 cents to 30 cents per share, more than the 7-cent average estimate of analysts surveyed by First Call/Thomson Financial.

Santa Ana, Calif.-based PacifiCare also reported a third-quarter profit of $1.4 million or 4 cents per share, down 98 percent from $71 million or $1.58 in the year-ago quarter.