Molina gets creamed

Shares in the Long Beach-based health care company fell almost 11 percent on Wednesday, to $34.87. It might seem a bit cockeyed, given that Molina just reported an 80 percent increase in third-quarter net income - driven by lower medical costs in Michigan, New Mexico and Washington health plans. But Molina reaffirmed full-year earnings guidance between $1.60 and $1.65 per share. Analysts expect full-year profit of $1.67 per share. There also could have been jitters concerning the prospect of a Democratic-led Congress. Whatever the case, Molina reached a 52-week high of $41.25 on Oct. 27 and has been sliding ever since.