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Stock Market & Financial Investment News

News Breaks
August 25, 2014
07:59 EDTEVHC, BKD, CYH, AFAM, HCA, CTRX, ACHCSome healthcare providers offer compelling opportunities, says Jefferies
Jefferies believes that the following healthcare providers reported good Q2 results which have not been adequately reflected by their stocks: Acadia Healthcare (ACHC), Almost Family (AFAM), Brookdale Senior Living (BKD), Catamaran (CTRX), Community Health (CYH), Envision Healthcare (EVHC), and HCA Holdings (HCA). The firm expects the sector as a whole to continue to improve in 2H14 amid continued tailwinds from healthcare reform.
News For ACHC;AFAM;BKD;CTRX;CYH;EVHC;HCA From The Last 14 Days
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June 26, 2015
05:26 EDTHCAHCA Holdings upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo upgraded HCA Holdings to Outperform citing improved long-term visibility into financial results following the decision in the King vs. Burwell case. Wells believes the case is likely the final challenge to the Affordable Care Act and expects hospitals to close some of the EBITDA multiple gap which exists between them and the broader market. Wells raised its price target range for HCA shares to $92-$112 from $64-$70.
June 25, 2015
16:23 EDTCYH, HCAOn The Fly: Top stock stories for Thursday
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16:00 EDTHCAOptions Update; June 25, 2015
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12:51 EDTCYH, HCAOn The Fly: Top stock stories at midday
Stocks on Wall Street opened higher but quickly gave up most of their gains as investors awaited news of a deal being reached between Greece and its creditors. The averages bounced back when the Supreme Court issued its ruling upholding ACA subsidies, sending a number of healthcare linked stocks higher. The market remained in positive ground near noon, but well off its best levels. ECONOMIC EVENTS: In the U.S., personal income rose 0.5% in May, matching the consensus expectation, while spending rose 0.9%, topping the expected 0.7% increase. Initial jobless claims were 271,000 in the week ended June 20, versus expectations for 273,000 first-time claims. Markit's services index fell to 54.8 for the flash June reading, versus expectations for a rise to 56.5 from the 56.2 May reading. The Kansas City Fed manufacturing survey for June came in at -9, as expected. COMPANY NEWS: Shares of hospital operators and health insurers rose after the Supreme Court upheld the legality of subsidies provided under the framework of the Affordable Care Act. The 6 to 3 decision in the Burwell versus King case means that the government can continue to offer subsidies to low income people who purchase health insurance plans on the federal exchange. The plaintiffs in the case had asked the court to strike down such subsidies, saying that the ACA had only allowed the government to subsidize insurance bought on exchanges created by states. In the wake of the ruling, which has been eagerly anticipated, Tenet Healthcare (THC) and Community Health (CYH) both rose more than 14%, while HCA Holdings (HCA) advanced nearly 9%. MAJOR MOVERS: Among the notable gainers was IAC/InterActiveCorp (IACI), which advanced 5% after announcing that its board has approved the pursuit of an initial public offering for The Match Group, which includes dating website Match.com and mobile dating app Tinder. IAC expects Match Group to issue less than 20% of its common stock in the IPO, which is seen being completed during the fourth quarter of this year. Also higher was Magnum Hunter (MHR), which gained 5% after disclosing that it has now determined to pursue the sale by the company of 100% of its current equity ownership interest in Eureka Hunter Holdings. Among the noteworthy losers was World Acceptance (WRLD), which dropped 19% after the company entered into an amendment with its lenders on its revolving credit agreement. FBR Capital downgraded the stock to Market Perform and cut its price target for shares to $73 from $98 afterward, saying restrictive covenants in the latest amendment means free cash flow will now be used to pay down debt rather than buy back stock. Also lower were shares of Cree (CREE), which fell about 11% after the company announced last night that it has decided to restructure its LED Products business to reduce excess capacity and overhead following recent market trends that have resulted in higher LED average selling price erosion than previously forecast. Cree also lowered its Q4 revenue view and issued FY16 revenue guidance that was below the consensus expectation. INDEXES: Near midday, the Dow was up 18.88, or 0.11%, to 17,984.95, the Nasdaq was up 5.87, or 0.11%, to 5,128.29, and the S&P 500 was up 2.18, or 0.1%, to 2,110.76.
11:06 EDTCYH, HCAHospitals, insurers climb after Supreme Court rules on ACA subsidies
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10:39 EDTHCA, CYHUniversal Health, HCA have most potential upside after ACA ruling, says Leerink
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10:36 EDTCYHCommunity Health volatility up on Obamacare upheld by U.S. Supreme Court
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10:18 EDTHCAHCA Holdings volatility up on Obamacare subsidies upheld by U.S. Supreme Court
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10:14 EDTCYH, HCAHospital stocks jump after Supreme Court upholds 'Obamacare' subsidies
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10:11 EDTHCA, CYHACA tax subsidies upheld by Supreme Court
The decision of the Fourth Circuit was affirmed in King v. Burwell by a vote of 6 to 3, according to multiple media reports. The Supreme Court upholding the lower court ruling means that individuals who get health insurance through an exchange established by the federal government will be eligible for tax subsidies in all 50 states. Publicly traded companies in the health insurance space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). Publicly traded companies in the hospital space include Community Health (CYH), HCA Holdings (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS).
10:02 EDTCTRXCatamaran and Health New England announces partnership reduced readmissions
Catamaran and Health New England announced one-year results from Catamaran's Hospital Transition Program, which dramatically reduced HNE's hospital readmission rates and increased medication adherence. HNE and Catamaran collaborated on a program that enhanced data sharing and communication between the health plan, hospital and PBM, and enabled a more diligent and comprehensive level of education, monitoring and intervention where appropriate with patients once released to the ambulatory setting. One year after implementing the program, 30-day same-cause readmissions in the intervention group were more than 70 percent below that of an equally-matched control group, while all-cause readmissions decreased by more than 50 percent. Additionally, 44 percent of the program's intervention calls to patients falling out of appropriate adherence (more than two days late refilling a prescription) resulted in a member medication refill within seven days.
June 24, 2015
10:00 EDTCTRXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Autoliv (ALV) downgraded to Sell from Neutral at Goldman... Catamaran (CTRX) downgraded to Neutral from Buy at UBS... Citi (C) downgraded to Hold from Buy at Deutsche Bank... Esperion (ESPR) downgraded to Neutral from Outperform at Credit Suisse... Fortinet (FTNT) downgraded to Neutral from Buy at Citi... General Motors (GM) downgraded to Neutral from Buy at Goldman... Goldman Sachs (GS) downgraded to Hold from Buy at Deutsche Bank... IBERIABANK (IBKC) downgraded to Neutral from Outperform at Baird... Independent Bank (INDB) downgraded to Underperform from Neutral at Baird... Inphi (IPHI) downgraded to Market Perform from Outperform at Northland... MoneyGram (MGI) downgraded to Neutral from Outperform at Macquarie... Sensata (ST) downgraded to Hold from Buy at Cross Research... Teradyne (TER) downgraded to Buy from Conviction Buy at Goldman... Alcobra (ADHD) downgraded to Hold from Speculative Buy at WBB Securities.
09:17 EDTHCAHCA Holdings price target raised to $95 from $85 at Leerink
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05:42 EDTCTRXCatamaran downgraded to Neutral from Buy at UBS
UBS downgraded Catamaran (CTRX) to Neutral saying the stock new fully reflects the UnitedHealth (UNH) takeover deal terms. UnitedHealth management in recent meetings expressed confidence that its pending $61.50 per share purchase of Catamaran will still close in the second half of 2015, UBS tells investors.
June 23, 2015
14:25 EDTAFAMAmedisys and Almost Family concerns overblown, says Jefferies
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14:17 EDTAFAMAlmost Family and Amedisys shares defended at Jefferies
June 22, 2015
09:09 EDTBKDBrookdale Senior Living announces announces leadership changes to COO and CFO
Brookdale Senior Living announced that Mark Ohlendorf, the company's President and CFO, will transition from his current dual roles to focus on an enhanced role as President. The company also announced that Gregory Richard, the company's COO, will step down effective September 30, 2015. President, Mr. Ohlendorf will immediately assume an active role in the company's operations leadership and will direct Brookdale's innovation initiatives. The ompany has initiated a search process to identify a new CFO and a new COO, and has retained Heidrick & Struggles, an executive search firm, to assist in this process. The company will consider both external and internal candidates. Ohlendorf will continue to serve as the company's CFO until a successor is appointed.
08:16 EDTCTRXAnthem, Cigna deal would be negative for Catamaran, says Leerink
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06:37 EDTCYH, HCAHealth insurers may change policies based on King v. Burwell ruling, NYT says
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June 21, 2015
13:51 EDTHCAShares of HCA Holdings could see 20% upside in two years, Barron's says
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