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Stock Market & Financial Investment News

News Breaks
April 11, 2014
10:05 EDTTHC, AETAetna, Tenet form accountable care collaboration in San Antonio
Aetna (AET), Tenetís (THC) Baptist Health System and HealthTexas Medical Group announced an accountable care collaboration and the introduction of the Aetna Whole Health product in the San Antonio area. The health plans, designed for fully insured customers with employees who live or work in Bexar, Guadalupe, Comal and Kendall counties, will be available on July 1.
News For AET;THC From The Last 14 Days
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March 5, 2015
10:05 EDTTHCOn The Fly: Analyst Downgrade Summary
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08:02 EDTTHCJefferies sees 'meaningful potential upside' in Hospital stocks
Jefferies says that even with yesterday's rally, shares of hospitals have "meaningful potential upside" left, especially if the Supreme Court rules in favor of the government in June. The firm has a more positive view on healthcare providers after yesterday's Supreme Court hearing of oral arguments related to its review of Federal Exchange premium subsidies. Comments made by "swing voter" Justice Kennedy suggested that he is leaning in favor of upholding the law, the firm points out. Its top pick in the space is HCA Holdings (HCA).
07:56 EDTAETLeerink more bullish on Managed Care after SCOTUS arguments
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06:30 EDTTHCTenet downgraded to Market Perform from Outperform at BMO Capital
BMO Capital downgraded Tenet to Market Perform due to valuation.
March 4, 2015
17:11 EDTTHCOn The Fly: Closing Wrap
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12:28 EDTTHCOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory but have paired their losses near midday. There was little reaction to the dayís economic data, which were highlighted by private payrolls growth that was a bit lower than expected and a crude oil inventory build-up that was much greater than expected. Investors are now looking forward to this afternoon, when the Federal Reserve will release its Beige Book report at 2:00 pm EST. ECONOMIC EVENTS: In the U.S., ADP reported private payrolls increased 212K in February, versus the consensus forecast for the addition of 219K jobs. Markit's services PMI rose to 57.1 in the final February reading, which was up from the 57.0 flash print, where it was expected to remain. ISM's services index edged up 0.2 points to 56.9 in February, which was above the consensus 56.5 forecast. In Asia, the biggest news came from India, whose central bank unexpectedly lowered its policy rate for the second time this year. The bank lowered its policy repo rate by 25 basis points to 7.5%, citing "low capacity utilization and still-weak indicators of production" for its pre-emptive policy action. COMPANY NEWS: Shares of a number of hospital operators' stocks jumped after U.S. Supreme Court Justice Anthony Kennedy expressed skepticism about the arguments from challengers' of a key component of the Affordable Care Act. At midday, after the high court ceased hearing arguments for the day, HCA Holdings (HCA) was up over 5.5%, Community Health (CYH) was up 5%, and Tenet Healthcare (THC) was up 4%... Exxon Mobil (XOM) stated at its analyst meeting that the company's capital expenditures came in $1.3B below plan at $38.5B last year and that it plans to cut that to $34B in 2015 based on expectations for reduced Upstream spending and "attractive" Downstream and Chemical investments. For 2016 to 2017, Exxon said it expects capital expenditures to average less than $34B per year. Despite the lower spending, Exxon Mobil sees its total Upstream production to be up 2% in 2015 and grow 3% per year in 2016 and 2017. MAJOR MOVERS: Among the notable gainers following their earnings reports were online-only home goods retailer Wayfair (W), which rose 15% and gunmaker Smith & Wesson (SWHC), which advanced over 10%. Among the noteworthy losers following their earnings reports were Bazaarvoice (BV), which fell 28%, and Abercrombie & Fitch (ANF), which dropped 13%. Also lower were shares of Bob Evans Farms (BOBE), which sunk 22% after its third quarter results fell below analysts' consensus estimates, the company lowered its fiscal year 2015 profit outlook and announced it would not pursue a sale or spin-off of its BEF Foods segment. INDEXES: Near midday, the Dow was down 87.26, or 0.48%, to 18,116.11, the Nasdaq was down 9.46, or 0.19%, to 4,970.44, and the S&P 500 was down 8.51, or 0.4%, to 2,099.27.
12:06 EDTTHCHospital stocks rise as Justice Kennedy voices concerns about Obamacare lawsuit
Liberal Supreme Court justices, along with a justice viewed as the "swing" justice on many cases, made statements today which suggested that they are skeptical about the arguments of plaintiffs who are asking the court to strike down subsidies under Obamacare in 34 states. Hospital stocks are rising, as hospitals benefit if more Americans are insured, and striking down the subsidies would cause fewer Americans to have health insurance. BACKGROUND: The plaintiffs in the case before the Supreme Court today, King vs. Burwell, argue that the Affordable Care Act, which launched Obamacare does not give the federal government the authority to offer subsidies through a health insurance exchange. A health insurance exchange operated by the federal government currently pays subsidies to consumers in 34 states that have not launched their own health insurance exchanges. If the Supreme Court rules in favor of the plaintiffs, the federal government would likely have to stop operating the exchange and paying the subsidies in those states. The court is expected to issue a decision on the case in June. WHAT'S NEW: Justice Anthony Kennedy, who may be considered to be the "swing" vote of the court, said that there is "a serious constitutional problem" with the plaintiffs' argument that states have to choose between launching their own exchanges or giving up subsidies, according to The Wall Street Journal. Kennedy also characterized as "powerful" the Obama administration's argument that the health-care law would disintegrate if the subsidies were struck down in most states, as the plaintiffs request. Justice Ruth Ginsburg said there would be disastrous consequences for states that haven't created their own exchanges if the court decides in favor of the plaintiffs, while Justice Sonia Sotomayor said that no one would use the federal exchanges if they could not get subsidies through it, The Journal reported. Justice Breyer said he thought that the law indicates that the federal government should run exchanges if states decline to do so, while Justice Kagan suggested, using an analogy, that it would be natural for the federal government to provide subsidies for residents of states that decline to operate exchanges, the newspaper reported. PRICE ACTION: In late morning trading, Community Health (CYH) rose 5% to $52, HCA Holdings (HCA) gained 6% to $75, Tenet Healthcare (THC) rose 5% to $49.50, and LifePoint (LPNT) advanced 2.5% to $73.
09:54 EDTAETAetna not reimbursing Exact Sciences for more than what law requires, says Maxim
Maxim said it views Exact Sciences' (EXAS) pact with Aetna (AET) for coverage for the Cologuard test for Medicare Advantage members as an incremental positive and the firm expects other insurers to follow Aetna's lead. However, the firm thinks the announcement indicates Exact Sciences has had talks with Aetna about reimbursement, but the insurer still isn't reimbursing for anything more than what the law requires of them. Maxim recommends shares be sold on the strength and reiterates its Sell rating on Exact Sciences.
07:57 EDTAETExact Sciences says Aetna Medicare Advantage to cover Cologuard
Exact Sciences (EXAS) announced that Aetna (AET) will cover Cologuard under its Medicare Advantage plan, reaching 967,000 members across the country. The three year agreement will go into effect on April 1. Cologuard is the first and only FDA approved noninvasive stool-based DNA screening test for colon cancer. The test will be available to Aetnaís Medicare Advantage members through their physician without a co-payment or co-insurance.
06:39 EDTAETNo preparations under way for elimination of some subsidies, NY Times says
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March 2, 2015
10:02 EDTTHCHigh option volume stocks
High option volume stocks: MNTA NTRI KOS NST GSAT THC CHL MSI CAKE NXPI
February 24, 2015
13:23 EDTAETAetna, Virtua Medical Group expand relationship
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11:26 EDTTHCTenet rises over 3% after reporting Q4 results, backing FY15 outlook
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February 23, 2015
19:40 EDTAET, THCLeerink healthcare services analyst holds an analyst/industry conference call
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15:23 EDTTHCNotable companies reporting after market close
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12:21 EDTAETOn The Fly: Midday Wrap
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11:10 EDTAETHealth insurers rise after CMS releases preliminary Medicare Advantage rates
The shares of a number of health insurers are rising after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for health insurers. WHAT'S NEW: On Friday after the market closed, CMS issued a proposal for 2016 Medicare Advantage rates. The rates are preliminary and could change when CMS announces the final 2016 rates on April 6 of this year, the agency noted. In a note to investors earlier today, Credit Suisse analyst Ralph Giacobbe estimated that, under CMS' initial proposal, insurers would see rate changes of between -1% and +1%, depending on the risk that each insurer faces. The preliminary rates were "favorable" for insurers, since the rates were "in-line if not slightly better" than investors had expected, the firm stated. Moreover, CMS decided not to restrict at-home health risk assessments, as had been feared, and agreed to reduce the weighting of certain risk factors that had hurt previously certain plans with a higher proportion of low-income beneficiaries, acceding to a request by insurers. Insurers with the highest exposure to Medicare Advantage include Humana (HUM), UnitedHealth (UNH), and WellCare (WCG), the analyst stated. WHAT'S NOTABLE: After analyzing CMS' proposal, health insurer Aetna (AET) estimated that the proposal would cause government funding for its Medicare Advantage business to decline by about 1% in 2016. Aetna added that it is continuing to evaluate the changes outlined in the Advance Notice and their impact on the company and its Medicare Advantage members. OTHERS TO WATCH: Other publicly traded health insurance companies include Anthem (ANTM), AMERIGROUP (AGP), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), and Molina Healthcare (MOH). PRICE ACTION: In mid-morning trading, Humana climbed 5.3% to $164.43, UnitedHealth rose 2.6% to $115.56, WellCare gained 6.3% to $90, Aetna advanced 2% to $99.91, and Centene added 3.4% to $61.93.
09:03 EDTAETAetna sees preliminary CMS rates to lower funding for MA business 1% in 2016
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08:05 EDTAETCMS releases preliminary Medicare Advantage rates for 2016
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February 20, 2015
08:41 EDTAETInsurers should be bought on weakness related to MA rates, says BMO Capital
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