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Stock Market & Financial Investment News

News Breaks
March 26, 2014
11:02 EDTDGX, DVA, KND, ADK, SKH, THC, UHS, HCA, LPNT, CYH, LH, FMSDoc fix draft positive for labs, hospitals, skilled nursing, says Wells Fargo
Wells Fargo views the draft copy of the SGR ''Doc Fix'' bill released by the House of Representatives this morning as positive for labs, dialysis providers, hospitals and skilled nursing facility operators. The firm added that it thinks the chances the bill passes are high. Quest Diagnostics (DGX) and LabCorp (LH) are publicly traded labs, while DaVita (DVA) and Fresenius Medical (FMS) operate dialysis centers. Publicly traded hospital operators include Community Health (CYH), HCA Holdings (HCA), LifePoint Hospitals (LPNT), Tenet (THC) and Universal Health (UHS). Skilled nursing stocks include Skilled Healthcare (SKH), AdCare (ADK) and Kindred Healthcare (KND).
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August 19, 2014
12:42 EDTSKHOn The Fly: Midday Wrap
The market opened higher as it extended its gains from yesterday. Better than expected economic data on housing and consumer prices, as well as easing geopolitical tensions, has helped aid investor optimism. The market drifted higher throughout the morning with the Dow leading the way, followed by the Nasdaq, which is now near fourteen-year highs. The S&P is mostly higher, with the telecom services group being the lone sector showing losses, down just fractionally. ECONOMIC EVENTS: Housing starts for July rose to an annualized pace of 1.093M units, up from 0.945M units in June, and beating expectations for 0.963M units... The Consumer Price Index increased 0.1% overall, matching expectations. Less food and energy, the CPI was up 0.1%, which was also in-line with the consensus forecast. COMPANY NEWS: Shares of home improvement retailer The Home Depot (HD) are up more than 6% after the company posted better than expected second quarter results and raised its full year profit outlook... Shares of Sprint (S) are down 4% after Jefferies lowered its price target for Sprint shares to $4, saying it continues to see downside to estimates. MAJOR MOVERS: Shares of Skilled Healthcare (SKH) are up more than 20% after combining with Genesis HealthCare In 100% stock deal... Shares of cosmetics and fragrance company Elizabeth Arden (RDEN) are down 24% after the company's fourth quarter results came in well below analysts' consensus estimates. INDEXES: Near midday, the Dow was up 76.92, or 0.46%, to 16,915.66, the Nasdaq was up 12.96, or 0.29%, to 4,521.27, and the S&P 500 was up 8.49, or 0.43%, to 1,980.23.
11:32 EDTLHLabCorp prenatal test a negative for Sequenom, says Maxim
Maxim views LabCorp's (LH) announcement today that it will begin offering the informaSeq prenatal test as a long-term negative for Sequenom (SQNM) due to increased competition. The news is also negative for Illumina (ILMN) and PerkinElmer (PKI), who both offer Non-Invasive Prenatal Tests, Maxim adds. The firm recommends buying shares of LabCorp and keeps a Buy rating on the name with a $130 price target.
09:07 EDTSKHOn The Fly: Pre-market Movers
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08:47 EDTLHLabCorp announces availability of InformaSeq non-invasive prenatal test
Laboratory Corporation of America Holdings announced the availability of the informaSeq Prenatal Test. The informaSeq Prenatal Test is an advanced, non-invasive, next-generation prenatal screening assay that can assess risk for multiple fetal chromosomal aneuploidies, or abnormalities in the number of chromosomes, from a single maternal blood draw. There are testing options for several additional common sex-related aneuploidies. The test is offered through Integrated Genetics, part of the LabCorp Specialty Testing Group of laboratories that offer advanced esoteric and genomic testing.
06:11 EDTSKHSkilled Healthcare to host conference call
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August 18, 2014
18:21 EDTSKHOn The Fly: After Hours Movers
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17:53 EDTSKHSkilled Healthcare jumps 45% to $8.90 after Genesis HealthCare tie-up
16:35 EDTSKHHealth Care REIT comments on Genesis Healthcare's merger with Skilled Healthcare
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16:34 EDTSKHSabra comments on Genesis HealthCare's combination with Skilled Healthcare
Sabra Health Care's (SBRA) tenant, Genesis HealthCare announced that it has signed a definitive agreement to combine with Skilled Healthcare Group (SKH). According to Genesis's announcement, Skilled shareholders will collectively own 25.75% of the vote and value of the fully-diluted equity of the combined company and Genesis shareholders will own the other 74.25%. After completion of the transaction, the new company will operate under the Genesis HealthCare name and will be traded on the NYSE. The closing of the transaction is subject to regulatory approvals, expiration of the waiting period under the Hart-Scott-Rodino, or HSR, Antitrust Improvements Act of 1976, as well as other conditions. According to Genesis's announcement, the closing of the combination is expected to occur in early 2015. Commenting on the proposed transaction, Rick Matros, CEO and Chairman, said "We believe the quality of our tenant base, including our existing parent guaranty from Genesis, is only strengthened by this transaction and our shareholders will benefit by the enhanced transparency of Genesis being a publicly-traded company. Genesis is a leading operator in the sector and we view this transaction favorably."
16:20 EDTSKHSkilled Healthcare to combine with Genesis HealthCare In 100% stock deal
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10:41 EDTCYHCommunity Health discloses personal data compromised in cyber attack
Earlier today, Community Health (CYH) disclosed in a filing that in July Community Health Systems confirmed that its computer network was the target of an external, criminal cyber attack that the company believes occurred in April and June. The company and its forensic expert, Mandiant, a FireEye company (FEYE), believe the attacker was an “Advanced Persistent Threat” group originating from China who used highly sophisticated malware and technology to attack the company’s systems.The company has been informed by federal authorities and Mandiant that this intruder has typically sought valuable intellectual property, such as medical device and equipment development data. However, in this instance the data transferred was non-medical patient identification data related to the company’s physician practice operations and affected approximately 4.5M individuals who, in the last five years, were referred for or received services from physicians affiliated with the company. The company has confirmed that this data did not include patient credit card, medical or clinical information; the data is, however, considered protected under the Health Insurance Portability and Accountability Act because it includes patient names, addresses, birthdates, telephone numbers and social security numbers. The company does not believe this incident will have a material adverse effect on its business or financial results.
August 15, 2014
10:01 EDTDVAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Apollo Global (APO) downgraded to Market Perform from Outperform at Wells Fargo... Calavo Growers (CVGW) downgraded to Neutral from Outperform at Wedbush... DaVita (DVA) downgraded to Hold from Buy at Deutsche Bank... Dangdang (DANG) downgraded to Neutral from Outperform at Credit Suisse... Ducommun (DCO) downgraded to Neutral from Buy at DA Davidson... Energy XXI (EXXI) downgraded to Sector Perform from Outperform at Howard Weil... Fifth Street Finance (FSC) downgraded to Neutral from Buy at Gilford Securities... Genetic Technologies (GENE) downgraded to Neutral from Buy at Ladenburg... Harmony Gold (HMY) downgraded to Underweight from Neutral at HSBC... Ignite Restaurant (IRG) downgraded to Neutral from Overweight at Piper Jaffray... JDSU (JDSU) downgraded to Hold from Buy at Argus... K12 (LRN) downgraded to Market Perform from Outperform at Wells Fargo... KKR (KKR) downgraded to Market Perform from Outperform at Wells Fargo... Lexington Realty (LXP) downgraded to Neutral from Buy at Ladenburg... Lithia Motors (LAD) downgraded to Underweight from Equal Weight at Morgan Stanley... New York & Co. (NWY) downgraded to Neutral from Buy at Janney Capital... OCI Partners (OCIP) downgraded to Underweight from Equal Weight at Barclays... OmniVision (OVTI) downgraded to Neutral from Outperform at RW Baird... Smith & Nephew (SNN) downgraded to Equal Weight from Overweight at Morgan Stanley... Subsea 7 (SUBCY) downgraded to Neutral from Buy at Goldman... Tencent (TCEHY) downgraded to Neutral from Overweight at JPMorgan... ViaSat (VSAT) downgraded to Equal Weight from Overweight at Stephens... bebe stores (BEBE) downgraded to Neutral from Buy at Janney Capital.
07:30 EDTDVADaVita downgraded to Hold from Buy at Deutsche Bank
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05:44 EDTDVADaVita downgraded to Hold from Buy at Deutsche Bank
August 13, 2014
18:55 EDTKNDOn The Fly: After Hours Movers
UP AFTER EARNINGS: Aspen Technology (AZPN), up almost 3% after reporting better than expected Q4 results and giving Q1 and FY15 guidance on its earnings conference call. ALSO HIGHER: Kindred Healthcare (KND), up more than 1% after Point72 reported a 5.1% passive stake in the company. DOWN AFTER EARNINGS: Cisco Systems (CSCO), down 1.2% after reporting Q4 results, giving Q1 guidance, and announcing that it is cutting 8% of its workforce... Noodles & Company (NDLS), down 21.2% after reporting Q2 results and "tempering" its FY14 outlook... Conatus Pharmaceuticals (CNAT), down 13.6% after reporting Q2 results and announcing it is deferring the results of its NAFLD/NASH clinical trial to 1Q15. ALSO LOWER: Amgen (AMGN), down 2.15% after announcing the Phase 3 Kyprolis FOCUS clinical trial did not meet its primary endpoint.
16:17 EDTKNDPoint72 Asset reports 5.1% passive stake in Kindred Healthcare
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August 12, 2014
07:50 EDTLHLabCorp management to meet with UBS
Field trip to company headquarters to be held in Burlington, NC on August 12 hosted by UBS.
August 11, 2014
16:36 EDTSKHSkilled Healthcare reports Q2 adjusted EPS 7c, consensus 6c
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16:17 EDTADKAdCare reports Q2 EPS (18c), consensus (7c)
Reports Q2 revenue $55.7M, consensus $57.06M.
06:57 EDTKND, CYH, UHSAvondale to hold a conference
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