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Stock Market & Financial Investment News

News Breaks
August 4, 2014
16:53 EDTCYHCommunity Health resolves Department of Justice investigation for more than $88M
Community Health Systems announced that it has resolved the investigation by the U.S. Department of Justice into short stay admissions through emergency departments at certain affiliated hospitals. The parties have entered into a settlement agreement, which concludes the government’s review into whether these 119 hospitals billed Medicare, Medicaid and TRICARE for certain inpatient admissions from January 2005 to December 2010 that the government believed should have been billed as outpatient or observation cases. The settlement agreement reflects the company’s desire to end the investigation, which began in 2011, and to avoid the significant expense and distraction of litigation. Under the terms of the agreement, there is no finding of improper conduct by Community Health Systems or its affiliated hospitals, and the company has denied any wrongdoing. The company has agreed to pay $88.26M in resolution of all federal government claims, including Medicare, TRICARE and the federal share of the Medicaid claims, and an additional $892.5K to the states for their portions of the Medicaid claims. The settlement agreement does not cover current government investigations into certain hospitals formerly affiliated with HMA, which were initiated before Community Health Systems’ acquisition of HMA in January. The company continues to cooperate with the government and is working to bring resolution to these investigations. The settlement also resolves the government’s investigation into a CHS-affiliated hospital in Laredo, Texas. The government’s review in Laredo centered on whether the hospital submitted claims for inpatient procedures that should have been billed as outpatient procedures as well as the financial relationship between the hospital and a member of its medical staff. The hospital has agreed to pay $9M to resolve this investigation. The company previously established a $102M reserve to cover these settlements and related legal costs.
News For CYH From The Last 14 Days
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November 21, 2014
10:00 EDTCYHOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Best Buy (BBY) upgraded to Outperform from Market Perform at Telsey Advisory... BlackRock (BLK) upgraded to Outperform from Market Perform at Bernstein... Cerner (CERN) upgraded to Outperform from Market Perform at Cowen... Community Health (CYH) upgraded to Outperform from Market Perform at Raymond James... Lockheed Martin (LMT) upgraded to Neutral from Sell at UBS... Teekay Offshore Partners (TOO) upgraded to Buy from Neutral at Citigroup... Trinity Industries (TRN) upgraded to Buy from Neutral at Longbow... Zebra Technologies (ZBRA) upgraded to Overweight from Neutral at JPMorgan... Ross Stores (ROST) upgraded to Hold from Sell at Maxim... St. Jude Medical (STJ) upgraded to Outperform from Market Perform at Cowen... Wolverine World Wide (WWW) upgraded to Buy from Neutral at DA Davidson... D.R. Horton (DHI) upgraded to Market Perform from Underperform at Raymond James... KB Home (KBH) upgraded to Market Perform from Underperform at Raymond James... Sony (SNE) upgraded to Overweight from Neutral at JPMorgan.
06:46 EDTCYHObama to prevent deportation of millions of illegal immigrants, Reuters says
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06:17 EDTCYHCommunity Health upgraded to Outperform from Market Perform at Raymond James
Raymond James upgraded Community Health to Outperform based on increasing earnings visibility, improving free-cash-flow generation, and valuation. Price target is $60.
November 20, 2014
10:18 EDTCYHHospitals would be hurt by immigrant amnesty, Leerink Swann says
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08:00 EDTCYHObama amnesty poses 'material' risk to hospitals, says Leerink
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November 18, 2014
07:21 EDTCYHUBS to hold a field trip
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07:01 EDTCYHCommunity Health to divest Mesquite, Texas hosptail
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November 12, 2014
12:11 EDTCYHWells Fargo sees headwinds for hospitals, downgrades HCA, Community Health
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10:00 EDTCYHOn The Fly: Analyst Downgrade Summary
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09:01 EDTCYHNurses expected to protest, strike over Ebola protection, Reuters says
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05:32 EDTCYHHospital sector downgraded to Market Weight at Wells Fargo
Wells Fargo downgraded the Hospital group to Market Weight from Overweight saying the Supreme Court's decision to hear the King v. Burwell case as well as the government's reduced expectations for exchange enrollment in 2015 are likely to remain an overhang on the sector through at least the end of June. Along with the group cut, Wells downgraded shares of HCA Holdings (HCA) and Community Health (CYH) to Market Perform from Outperform. The firm keeps Market Perform ratings on Acadia (ACHC), LifePoint Hospitals (LPNT), Tenet (THC) and Universal Health (UHS).
05:28 EDTCYHCommunity Health downgraded to Market Perform from Outperform at Wells Fargo
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November 11, 2014
08:15 EDTCYHUniversal Health recent pullback a buying opportunity, says Leerink
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November 10, 2014
15:53 EDTCYHCredit Suisse to hold a conference
Healthcare Conference is being held in Scottsdale, Arizona on November 10-13 with webcasted company presentations to begin on November 11 at 10:30 am; not all company presentations may be webcasted. Webcast Link
07:19 EDTCYHCredit Suisse to hold a conference
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