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Stock Market & Financial Investment News

News Breaks
February 12, 2013
08:05 EDTCYHCommunity Health management to meet with UBS
Meeting to be held in New York on February 12 hosted by UBS.
News For CYH From The Last 14 Days
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June 26, 2015
10:00 EDTCYHOn The Fly: Analyst Upgrade Summary
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07:37 EDTCYHLargest overhang removed from hospitals, says Oppenheimer
Oppenheimer says that the Supreme Court's Smith versus Burwell decision removed the largest overhang facing the hospitals. The firm says that the group has a "clear outlook and strong fundamentals." It recommends that investors continue to buy Community Health and HCA (HCA). Oppenheimer raised its price target on Community Health to $82 from $60 and on HCA to $102 from $87.
07:22 EDTCYHHospital multiples should go higher, says Jefferies
Jefferies expects the multiples of Hospital stocks to go higher following yesterday’s Supreme Court's decision on the Affordable Care Act subsidies. The firm expects the gap between Hospital valuations and those of its healthcare services peers to now narrow. It raised its price target for Community Health (CYH) to $79 from $65, for HCA Holdings (HCA) to $108 from $95 and for Tenet (THC) to $70 from $63. Jefferies keeps Buy ratings on all three names. Wells Fargo this morning upgraded all three stocks to Outperform.
06:41 EDTCYHCommunity Health upgraded to Buy from Neutral at Mizuho
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06:30 EDTCYHCommunity Health downgraded to Market Perform from Outperform at Raymond James
05:31 EDTCYHWells Fargo upgrades three hospitals following high court ruling
Wells Fargo analyst Gary Lieberman upgraded HCA Holdings (HCA), Tenet (Tenet) and Community Health (CYH) to Outperform from Market citing improved long-term visibility into financial results following the Supreme Court decision in the King vs. Burwell case. Lieberman believes the case is likely the final challenge to the Affordable Care Act and he expects hospitals to close some of the EBITDA multiple gap which exists between them and the broader market. The analyst keeps Market Perform ratings on LifePoint (LPNT) and Universal Health (UHS).
05:27 EDTCYHCommunity Health upgraded to Outperform from Market Perform at Wells Fargo
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June 25, 2015
16:23 EDTCYHOn The Fly: Top stock stories for Thursday
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12:51 EDTCYHOn 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 EDTCYHHospitals, insurers climb after Supreme Court rules on ACA subsidies
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10:39 EDTCYHUniversal 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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10:14 EDTCYHHospital stocks jump after Supreme Court upholds 'Obamacare' subsidies
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10:11 EDTCYHACA 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).
June 22, 2015
06:37 EDTCYHHealth insurers may change policies based on King v. Burwell ruling, NYT says
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June 19, 2015
10:09 EDTCYHFly Watch: Supreme Court may release key ACA decision soon
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08:04 EDTCYHCommunity Health could see 50% upside in 18 months, says Susquehanna
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07:37 EDTCYHSupreme Court decision on ACA suit due soon, says UBS
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June 18, 2015
07:38 EDTCYHLeerink to hold a roundtable
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June 17, 2015
09:34 EDTCYHCommunity Health management to meet with Deutsche Bank
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