New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 26, 2012
06:38 EDTCYHCommunity Health downgraded to Neutral from Outperform at RW Baird
Baird is more neutral on hospitals given difficult 2013 industry fundamentals, likely provider care rate cuts given deficit issues, and increased risks for delays in exchange open implementation. Price target lowered to $31 from $33.
News For CYH From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 5, 2015
08:02 EDTCYHJefferies 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 EDTCYHLeerink more bullish on Managed Care after SCOTUS arguments
Subscribe for More Information
March 4, 2015
17:11 EDTCYHOn The Fly: Closing Wrap
Subscribe for More Information
15:13 EDTCYHFTC approves Community Health application to divest Riverview
Subscribe for More Information
12:28 EDTCYHOn 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 day’s 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 EDTCYHHospital 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.
March 3, 2015
08:03 EDTCYHCommunity Health to divest interest in two South Carolina hospitals
Community Health Systems announced that subsidiaries have executed a definitive agreement to sell their ownership interests in the entities that operate two South Carolina hospitals, 59-bed Chesterfield General Hospital in Cheraw and 102-bed Marlboro Park Hospital in Bennettsville, and related outpatient services to M/C Healthcare LLC. The transaction is expected to close in the next sixty days, subject to customary regulatory approvals and closing conditions. The hospitals are operated under leases with a REIT that will otherwise expire on April 30, 2015. M/C Healthcare LLC is the successor lessee. The company does not expect the divestitures to have a meaningful impact on financial operations.
March 2, 2015
17:32 EDTCYHCommunity Health announces buyout of partner in five-hospital JV
Subscribe for More Information
February 24, 2015
07:31 EDTCYHRBC Capital to hold a conference
Subscribe for More Information
February 23, 2015
19:40 EDTCYHLeerink healthcare services analyst holds an analyst/industry conference call
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use