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Stock Market & Financial Investment News

News Breaks
May 15, 2014
12:42 EDTHLS, GTIV, AMED, KNDGentiva 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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February 11, 2016
07:01 EDTAMEDAmedisys agrees to acquire Associated Home Care for $28M
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February 9, 2016
17:05 EDTKNDKindred acquires Control licenses in South Carolina for home health services
Kindred acquired from the South Carolina Department of Health and Environmental Control licenses to provide home health services in all 46 counties in South Carolina for approximately $18M. Kindred reached an agreement with DHEC following a state bidding process. The agreement took effect January 1, 2016, and immediately expands Kindred's services from 10 offices serving 22 counties to 19 offices serving the entire state of South Carolina. As part of the license transfer agreement, Kindred agreed to hire all employees and agreed to take over patients upon consent. Upon completion, 72 employees accepted the Company's offer of employment and 650 patients granted consent to the Company's care. With this platform, Kindred intends to open additional offices and expand its home health services in the state. The Company has been providing home health services in South Carolina since it acquired Gentiva Health Services in February 2015.
17:02 EDTKNDKindred Healthcare expands its home health operations
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February 8, 2016
10:00 EDTAMEDOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Amedisys (AMED) upgraded to Outperform from Perform at Oppenheimer... American Campus (ACC) upgraded to Buy at Canaccord... Beacon Roofing (BECN) upgraded to Strong Buy from Outperform at Raymond James... Big 5 Sporting (BGFV) upgraded on potential Sports Authority closures at Stifel... CenterState Banks (CSFL) upgraded to Outperform from Market Perform at Fig Partners... Cisco (CSCO) upgraded to Neutral from Underperform at Macquarie... Dollar Tree (DLTR) upgraded to Outperform from Market Perform at Telsey Advisory... Dow Chemical (DOW) upgraded to Positive from Neutral at Susquehanna... Essex Property Trust (ESS) upgraded to Buy from Neutral at Mizuho... Globant (GLOB) upgraded to Buy from Neutral at Citi... Kinross Gold (KGC) upgraded on valuation, higher gold price at BMO Capital... L Brands (LB) upgraded to Buy from Hold at Brean Capital... Marvell (MRVL) upgraded to Buy from Sell at B. Riley... Munich Re (MURGY) upgraded to Neutral from Underperform at Credit Suisse... OM Asset Management (OMAM) upgraded to Buy from Neutral at Citi... Orbital ATK (OA) upgraded to Overweight from Sector Weight at KeyBanc... SCANA (SCG) upgraded to Buy from Neutral at Mizuho... Sensient (SXT) upgraded to Buy from Hold at Gabelli... St. Jude Medical (STJ) upgraded to Hold from Sell at Canaccord... Suffolk Bancorp (SCNB) upgraded to Outperform from Market Perform at Fig Partners... Supernus (SUPN) upgraded to Buy from Hold at Jefferies... Ultimate Software (ULTI) upgraded to Outperform from Market Perform at FBR Capital... ZAGG (ZAGG) upgraded to Outperform from Market Perform at Northland... athenahealth (ATHN) upgraded to Buy from Hold at Topeka.
06:19 EDTAMEDAmedisys upgraded to Outperform from Perform at Oppenheimer
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February 2, 2016
08:17 EDTHLSHealthSouth and CHI St. Vincent Hot Springs begin operations at hospital
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