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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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July 29, 2015
17:09 EDTHLSHealthSouth lowers FY15 EPS view to $2.11-$2.17 from $2.13-$2.19
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17:07 EDTHLSHealthSouth reports Q2 EPS 47c with items, consensus 58c
Reports Q2 revenue $764.4M, consensus $746.86M. Q2 EPS included an 11c per share loss on early extinguishment of debt associated with the company's redemption of its 8.125% Senior Notes due 2020.
07:07 EDTAMEDAmedisys reports Q2 adjusting EPS 32c, consensus 33c
Reports Q2 revenue $314.1M, consensus $307.11M.
July 16, 2015
16:32 EDTHLSHealthSouth raises quarterly dividend 9.5% to 23c from 21c per share
The dividend will be payable on October 15 to holders of record on October 1.

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