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Shares of Alignment Healthcare Inc. surged more than 18% in morning trading Tuesday, climbing to $22.13, up $3.46 or 18.53%, on heavy volume as investors piled into the Medicare Advantage specialist amid renewed optimism about its differentiated care model, strong membership expansion and improving profitability in a sector facing reimbursement pressures.

The Nasdaq-listed stock (ALHC) broke out sharply by late morning on April 7, marking one of the strongest single-day gains in recent months and pushing the year-to-date performance solidly positive. The rally lifted the company’s market capitalization above $4 billion, reflecting renewed confidence in its ability to deliver robust growth while navigating the complex Medicare Advantage landscape.

Alignment Healthcare operates a tech-enabled Medicare Advantage platform that emphasizes personalized care, lower medical loss ratios and integrated services designed to improve outcomes for seniors. The company has consistently posted impressive membership gains, reporting 31% year-over-year growth to approximately 275,300 members as of Jan. 1, 2026, following a strong annual enrollment period. It has guided for year-end 2026 membership between 290,000 and 296,000, representing 24% to 27% growth.

Analysts and investors appear to be rewarding the company’s execution after a period of caution following the Centers for Medicare & Medicaid Services’ preliminary 2027 rate proposals, which came in lower than many expected. Despite broader sector headwinds, Alignment has highlighted its ability to maintain high Star ratings — with 100% of members in plans rated 4 stars or higher for the second consecutive year — and its reputation as one of the 2026 Fortune World’s Most Admired Companies in its first year of eligibility.

In its fourth-quarter and full-year 2025 results released Feb. 26, Alignment beat the high end of guidance across key metrics. Revenue reached $3.95 billion for the year, up 46.1% from the prior year, while the company produced positive free cash flow on a full-year basis for the first time. The fourth-quarter loss narrowed to $11 million, with adjusted EBITDA showing clear progress toward profitability.

“Alignment Healthcare is taking a positive step forward in profitability,” CEO John Kao said at the time, emphasizing the strength of its integrated care model even as larger rivals pulled back from certain markets. The company has expanded its footprint while many competitors retreated, capitalizing on demand for high-quality Medicare Advantage options.

Wall Street has taken notice. The consensus rating remains a solid Buy, with an average price target near $23 to $25, suggesting further upside from current levels. Firms such as Piper Sandler, JPMorgan and KeyBanc have highlighted the company’s membership momentum and operational efficiency. Some forecasts point to adjusted EBITDA of approximately $145 million for 2026, within the company’s guided range of $133 million to $163 million.

The Tuesday surge lacked an obvious single catalyst in real time, but traders pointed to a combination of factors: the expiration of certain lock-up agreements around April 1 that had previously restricted insider and affiliate sales, continued positive sentiment around Medicare Advantage normalization, and anticipation ahead of the company’s upcoming presentation at the BofA Securities Health Care Conference on May 13.

A secondary offering announced in early March by an affiliate of General Atlantic — involving roughly 13.2 million shares — created temporary overhang, but the lock-up expiration appears to have cleared the way for fresher buying interest without immediate selling pressure.

Alignment’s business model sets it apart in the crowded Medicare Advantage space. The company uses proprietary technology, data analytics and a physician-led approach to manage care more effectively, aiming for better member satisfaction and lower costs. Its plans emphasize whole-person care, including benefits that address social determinants of health, chronic condition management and preventive services.

High Star ratings translate directly into quality bonus payments from CMS, providing a meaningful revenue tailwind. Alignment has maintained strong ratings across its markets, helping it attract and retain members even in a competitive environment.

Q1 2026 results are expected around late April or early May, with guidance calling for membership between 281,000 and 285,000, revenue of $1.21 billion to $1.23 billion, and adjusted EBITDA of $26 million to $36 million. Investors will watch closely for any updates on medical benefits ratios, which the company expects to trend modestly lower in the first half of the year.

Broader industry dynamics have been mixed. Medicare Advantage enrollment continues to grow nationally as baby boomers age into the program, but plans face ongoing scrutiny over utilization trends, prior authorization practices and reimbursement adequacy. Alignment has positioned itself as a nimbler player capable of delivering value where larger insurers sometimes struggle with scale-related inefficiencies.

The stock has shown significant volatility since going public in 2021 but has delivered substantial returns for long-term holders, with some reports noting gains exceeding 400% from 2024 lows into early 2026 before periodic pullbacks. Tuesday’s move recaptured some of that momentum.

Options activity and trading volume spiked during the session, indicating heightened interest from both retail and institutional investors. The breakout above recent resistance levels near $20 could signal technical strength if buying sustains.

Risks and Outlook

Challenges remain. Alignment is still not consistently profitable on a GAAP basis, and heavy investment in growth and technology continues to pressure near-term margins. Regulatory changes, shifts in CMS policy or unexpected spikes in medical costs could impact results. Competition from giants like UnitedHealth, Humana and CVS Health’s Aetna remains intense.

Yet bulls argue that Alignment’s focused model — centered exclusively on Medicare Advantage rather than diversified insurance lines — gives it an edge in execution and innovation. The company’s emphasis on technology-driven care coordination has helped keep its medical loss ratio competitive while delivering high member satisfaction.

Alignment Healthcare, founded with a mission to transform senior care, operates primarily in select markets across California, North Carolina, Nevada, Arizona and other states, with plans to expand thoughtfully. It employs a team dedicated to value-based care principles.

As trading continued Tuesday, the stock tested levels not seen since earlier in the year, with some analysts suggesting the move could mark the start of a fresh leg higher if upcoming earnings reinforce the growth narrative.

For investors, the rally underscores the appeal of high-growth names in health care that demonstrate operational momentum amid an aging U.S. population. With millions more seniors expected to join Medicare Advantage plans in coming years, companies like Alignment that combine technology, quality and scale are well-positioned.

The company will present at the BofA conference in mid-May, offering management an opportunity to update investors on progress toward 2026 targets and longer-term ambitions.

Whether Tuesday’s surge proves sustainable will depend on execution in the coming quarters, but for now, Alignment Healthcare has captured Wall Street’s attention with a breakout performance that highlights its potential as a standout player in one of health care’s fastest-growing segments.

The Competition Appeal Tribunal has ruled that the Welsh Government’s £205m subsidy plans for Cardiff Airport are legal

The Welsh Government has seen off a legal challenge from Bristol Airport over plans to provide £205m of subsidy support to Cardiff Airport. The ruling is a major boost for the Rhoose-based airport as it seeks to expand its passenger numbers and grow non terminal related activities such as aviation training and attract more maintenance, repair and overhaul investment.

Following a two-day Competition Appeal Tribunal hearing in February Bristol Airport’s claim that the subsidy support to the Welsh Government-owned airport breached the Subsidy Control Act has been rejected in a judgment.

The Welsh Government, which has already released the first tranche of £20m of subsidy support to the airport, has welcomed the decision in a ruling from the tribunal chaired by Ben Tidswell.

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Bristol unsuccessfully claimed, in a case brought against Welsh Government ministers, that the subsidy, planned over ten years, breached the the Subsidy Control Act on four grounds, including taxpayers’ money shouldn’t be provided to prop up what it described as an ailing business .

It also argued that the funding represents unprecedented state support for a UK airport and would put it at a commercial disadvantage relative to its nearest rival.

On the issue of Cardiff Airport being a going concern, the judgment said: “The tribunal held that the respondent had considered the question expressly and had rationally concluded that CIAL (Cardiff International Airport) was not ailing or insolvent, principally because the extended standby credit facility (ESCF) provided liquidity support and ensured CIAL remained a going concern.

“The tribunal rejected Bristol’s argument that the ESCF should be disregarded, and found no irrationality in the respondent’s inquiry or conclusion.”

It also rejected Bristol’s claim that providing subsidy support to airlines to fly new routes out of Cardiff Airport was uncompetitive. Around half of the £205m has been earmarked to attract new airlines to Cardiff, but not for routes currently operated by Bristol.

The judgment concluded: “The tribunal held that none of the four grounds of challenge were made out. Accordingly, the appeal failed and the application for a declaration, quashing order and recovery order was dismissed.”

Following the judgment the Welsh Government said: “We welcome the competition appeal tribunal ruling that our investment in Cardiff Airport is lawful and can continue on its current terms.

“From the outset we recognised the huge potential of the airport to deliver significant additional benefits for the people and economy of south Wales.

“The leadership team at the airport will continue to deliver the economic objectives set out in our investment strategy. With a more certain future following the determination of the tribunal, we look forward to seeing the airport build on recent successes, including securing the new WestJet route from Cardiff to Toronto and to deliver even more services and attract more business and job opportunities to the region.

“The airport, which recently celebrated a 9% growth in passenger numbers for last year, is looking forward to its busiest summer flying programme in many years, and we very much hope to see both Cardiff Airport and Bristol Airport continue to thrive and grow.”

A spokesman for Bristol Airport said: “The competition tribunal heard significant concerns about the unprecedented £205m subsidy, which comes on the back of £181 million of taxpayers’ money that Cardiff Airport has already received. The subsidy will see Welsh taxpayers forking out around £71 for every single additional passenger flying out of Cardiff Airport.

“We’re disappointed that the tribunal feels that despite the burden being put on the taxpayer, the flexibility given by the Subsidy Control Act introduced after Brexit means that the subsidy can proceed. We’ll now take some time to study the decision in detail before deciding on our next steps.”

Bristol wouldn’t comment on whether it plans to appeal the ruling. The Welsh Government is now likely to seek recovery of its legal costs of around £2m.

Cardiff Airport achieved a near 10% rise in passengers last year but still remains well below its pre-pandemic level.

The airport welcomed 963,000 passengers in 2025, up 9% on 2024, with a 4% rise in air traffic movements. The airport said the increase was supported by significant growth from Ryanair and TUI. Cargo volumes, supported by a new base from European Cargo, experienced a 7% increase .

It is also continuing to invest in route development, with further new services planned for this year and 2027. Prior to the pandemic it handled 1.6 million passengers in 2019.

LOS ANGELES — Los Angeles Lakers guard Austin Reaves has been diagnosed with a Grade 2 left oblique muscle strain, sidelining the 27-year-old for the remainder of the 2025-26 regular season and casting serious doubt on his availability for the start of the NBA playoffs, dealing a major blow to a team already missing co-star Luka Dončić.

Reaves is expected to miss four to six weeks, according to multiple reports citing league sources. That timeline would keep the versatile scorer out through at least the early portion of the postseason, with the first round scheduled to begin April 18. Some medical experts suggest the recovery could stretch longer if rib cartilage is involved, while the minimum for a Grade 2 oblique strain is typically around three weeks.

The injury occurred during the Lakers’ lopsided 139-96 loss to the Oklahoma City Thunder on April 2. Reaves appeared to tweak his left side while reaching for a rebound in the first half but returned to finish the game, logging 27 minutes and scoring 15 points. He and Dončić, who suffered a Grade 2 hamstring strain in the same contest, both played through visible discomfort in what became a blowout defeat.

Lakers coach J.J. Redick later defended the decision to keep both players in the game, but faced criticism for potentially exacerbating the injuries in a non-competitive matchup. Reaves underwent an initial MRI in Dallas that reportedly scanned the wrong area, prompting a second imaging session on April 4 that confirmed the oblique strain. Redick expressed frustration with the diagnostic process, noting the Lakers had clearly specified the target area.

Reaves, often called “AR-15” by fans, has enjoyed a breakout 2025-26 season as one of the Lakers’ most reliable performers. Through 51 games, he averaged 23.3 points, 4.7 rebounds, 5.5 assists and shot 49% from the field while playing 34.5 minutes per night. His scoring, playmaking and clutch shooting made him a vital complement to LeBron James and the newly acquired Dončić in Los Angeles’ revamped lineup.

The double blow of losing both Reaves and Dončić for the final stretch of the regular season has left the Lakers scrambling. The team announced Reaves would miss the remaining five regular-season games, with the finale set for April 12 against Utah. Los Angeles has already made roster adjustments, including a reported $18 million move to bolster depth amid the injury crisis.

Medical Outlook and Recovery Timeline

Sports medicine specialists describe oblique strains as particularly painful due to the muscle’s proximity to nerves and rib attachments. A Grade 2 strain involves a partial tear, with recovery complicated by the constant torso rotation required in basketball. NBA data shows less severe oblique injuries average about 17 days missed, while higher-grade cases can sideline players for up to nine weeks. For Reaves, the consensus projection of four to six weeks places his potential return somewhere in the first or second round of the playoffs — assuming the Lakers advance.

Dr. Evan Jeffries and other injury analysts have noted that rushing back too soon risks reinjury, drawing comparisons to similar cases like Luka Dončić’s current hamstring issue. Conservative management is expected, with Reaves focusing on rest, targeted rehabilitation and gradual return-to-play protocols under the Lakers’ medical staff.

Reaves has a history of playing through minor ailments, but this marks one of the more significant setbacks in his young career. The undrafted guard out of Oklahoma has steadily evolved into a cornerstone for the Lakers since joining the league in 2021, earning praise for his toughness, basketball IQ and improved three-point shooting.

Impact on Lakers’ Playoff Hopes

The injuries come at a precarious time for Los Angeles. With Dončić already ruled out for the rest of the regular season and Reaves now joining him on the sideline, the Lakers must lean heavily on veterans like LeBron James and a supporting cast that includes role players stepping into larger minutes. Questions swirl about seeding, matchup advantages and whether the team can build enough chemistry without its two leading scorers.

Analysts describe the situation as “devastating” for playoff aspirations. Even if Reaves returns in late April or early May, he may require ramp-up time to regain full explosiveness and conditioning. The Lakers’ depth will be tested in what could be a grueling first-round series.

Reaves’ absence also complicates long-term roster planning. He is eligible for a significant contract extension or new deal in the coming offseason, with some projections linking him to a $241 million maximum-level agreement. His injury performance this season has only heightened his value, but any prolonged recovery could factor into negotiations.

LeBron James publicly expressed disappointment over the injuries to both Reaves and Dončić, highlighting the emotional toll on the locker room after what had been a promising stretch.

Broader Context and Lakers’ Response

The Lakers have faced a season of highs and lows, including the high-profile acquisition of Dončić that reshaped expectations. Now, with key pieces sidelined, the focus shifts to resilience and opportunistic play from the supporting cast. Coach Redick has emphasized staying connected and preparing for every scenario as the team eyes a playoff berth.

Reaves has remained positive in public comments, expressing confidence in his teammates and a commitment to returning as strong as possible. He is expected to travel with the team and stay engaged in meetings and film study during rehabilitation.

NBA observers note that oblique injuries can be unpredictable, but modern sports science — including advanced imaging, regenerative therapies and individualized rehab programs — often helps players return closer to the optimistic end of timelines.

For now, the Lakers must navigate the final regular-season games and prepare for the postseason without two of their top offensive weapons. Whether Reaves can suit up for a deep playoff run remains uncertain, but his track record of toughness suggests he will push to rejoin the lineup at the earliest safe opportunity.

The injury has sparked widespread discussion across NBA circles, with fans and analysts debating the decision to play both stars in a blowout and the broader implications for Los Angeles’ championship window. As the calendar turns toward the playoffs, all eyes will be on Reaves’ recovery progress and the Lakers’ ability to adapt.

Austin Reaves, a fan favorite known for his underdog story and clutch performances, faces his toughest test yet. Lakers supporters hope the “Hillbilly Kobe” can once again defy the odds when he returns to the court.

Ford is recalling more than 422,000 vehicles in the U.S. over a windshield wiper failure, federal regulators said on Tuesday.

The recall includes Lincoln Navigator and Ford Expedition SUVs, as well as some F-series trucks, the National Highway Traffic Safety Administration (NHTSA) said. Specific vehicles that may be involved include the model year 2021-2023 Lincoln Navigator, 2021-2023 Ford Expedition, and the 2022-2023 Ford Super Duty.

A total of 422,613 vehicles are subject to the recall, while the share of vehicles with the defect is estimated to be 3% of the recalled vehicles.

Windshield wiper arms may operate erratically or may break, causing the wipers to fail, according to NHTSA.

A model year 2023 Ford Expedition. (Ford Motor Co.)

FORD RECALLS MORE THAN 83,000 VEHICLES OVER HEADLIGHT, ENGINE VALVE ISSUES

The safety agency noted that there may be a warning for drivers that the windshield wiper may fail, as drivers “may experience erratic wipe speed of the driver or passenger wiper arm.”

“An improperly functioning or detached wiper arm may impair driver vision, increasing the risk of a crash,” NHTSA’s description of the defect said.

“The windshield wiper arm’s latch retention plate may have been incorrectly staked at the supplier. The latch retention plate keeps the arm head properly seated to the wiper arm. Additionally, the engagement between the knurl and wiper arm may be reduced due to dimensional variability. Proper knurl-to-arm head teeth engagement ensures robust wiper arm operation,” the agency said.

FORD RECALLS 1.74 MILLION VEHICLES DUE TO REARVIEW CAMERA BLACKOUTS, ISSUES

Production improvements at the supplier in December 2022 addressed issues that led to the defective wiper arms, which is why the recall is limited to vehicles made in a specific timeframe.

A total of 422,613 vehicles are subject to the recall. (David Paul Morris/Bloomberg via Getty Images)

NHTSA’s recall report said that Ford isn’t aware of any accidents or injuries related to the wiper issue.

NHTSA said that the notification to dealers was expected to occur on April 1, with the mailing of notices to interim owners expected to begin on April 13 and be completed by April 17.

FORD RECALLS MORE THAN 615,000 VEHICLES OVER WIPER, DRIVESHAFT DEFECTS

Owners of potentially affected vehicles were expected to be able to search VINs as of April 1.

The remedy for the issue is expected to include an inspection of windshield wipers and their potential replacement.

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Wiper arms that don’t pass the inspection will be replaced. The replacement wiper arms that are used in this process will be made with correct staking of the latch retention plate, and wiper arm splines within specifications, according to NHTSA.

Reuters contributed to this report.