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Stock Market & Financial Investment News

News Breaks
May 15, 2014
12:42 EDTKND, HLS, GTIV, AMEDGentiva Health jumps after Kindred makes takeover offer public
Shares of home health services provider Gentiva Health (GTIV) are soaring after Kindred Healthcare (KND) made public its offer to buy Gentiva for $14 per share. Kindred operates hospitals and rehabilitation centers and also has a hospice and home healthcare business. WHAT'S NEW: Kindred earlier today announced that it has offered to buy Gentiva for $7 per share in cash and $7 per share of Kindred's stock. The proposed price for Gentiva implies a total equity value of approximately $533M, Kindred stated. With the assumption of Gentiva’s debt, the transaction would be valued at approximately $1.6B, it added. Gentiva is not willing to talk about the proposed transaction at this time, Kindred noted. ANALYST REACTION: In a note to investors, research firm CRT Capital wrote that Kindred's offer is "a bit high but not unreasonable." Gentiva should accept Kindred's takeover offer, as historically companies have difficulty getting their stock price up to the takeout price after rejecting bids, CRT stated. The firm added that it believes the only other potential bidder, HealthSouth (HLS), is unlikely to make an offer. Kindred's bid is likely to become hostile, added CRT, which kept a Buy rating on Gentiva. Discussing another company in the sector, CRT recommended that investors short the shares of Amedisys (AMED) if the stock rises because the market views it as the next potential takeover target. The firm doesn't expect a bidder for Amedisys to emerge and it kept a Sell rating on that stock. Research firm Raymond James responded to Kindred's offer by upgrading its rating on Gentiva to Market Perform from Underperform. PRICE ACTION: In early afternoon trading, Gentiva soared 61% to $13.75, Kindred rose 6.5% to $23.35, and Amedisys rose 7.1% to $15.
News For GTIV;KND;AMED;HLS From The Last 14 Days
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December 17, 2014
10:02 EDTHLSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Google (GOOG) upgraded to Buy from Hold at Pivotal Research... Twitter (TWTR) upgraded to Buy from Hold at Pivotal Research... Aaron's (AAN) upgraded to Buy from Hold at KeyBanc... Calpine (CPN) upgraded to Buy from Hold at Deutsche Bank... Check Point (CHKP) upgraded to Buy from Hold at Deutsche Bank... Columbia Sportswear (COLM) upgraded to Buy from Neutral at Goldman... Dakota Plains Holdings (DAKP) upgraded to Buy from Hold at Canaccord... SunCoke Energy (SXC) upgraded to Outperform from Neutral at Credit Suisse... Taylor Morrison (TMHC) upgraded to Buy from Hold at Evercore ISI... Teck Resources (TCK) upgraded to Buy from Neutral at UBS... VeriFone (PAY) upgraded to Overweight from Equal Weight at Barclays... Motorola Solutions (MSI) upgraded to Buy from Hold at Argus... Approach Resources (AREX) upgraded to Neutral from Reduce at Global Hunter... HealthSouth (HLS) upgraded to Outperform from Market Perform at Raymond James... QLogic (QLGC) upgraded to Overweight from Equal Weight at Morgan Stanley... Baker Hughes (BHI) upgraded to Focus List from Outperform at Howard Weil... Kansas City Southern (KSU) upgraded to Overweight from Equal Weight at Stephens... BlackBerry (BBRY) upgraded to Buy from Hold at BGC Financial.
07:36 EDTHLSHealthSouth upgraded to Outperform from Market Perform at Raymond James
Raymond James upgraded HealthSouth to Outperform based on valuation and free-cash-flow upside.
December 16, 2014
08:35 EDTAMEDAmedisys names Paul Kusserow as CEO
Amedisys announced that its board has named Paul Kusserow as president and CEO and a member of the board. Kusserow will assume the role on December 16, from president and Interim CEO, Ronald LaBorde, who will remain a member of the senior management team in the role of vice chairman. LaBorde will also continue to serve as a member of the board. Kusserow was most recently vice chairman of Alignment Healthcare.

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