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Stock Market & Financial Investment News

News Breaks
July 29, 2014
08:32 EDTUNH, THCUnitedHealthcare, Tenet renew network relationship
UnitedHealthcare, a UnitedHealth Group company (UNH), and Tenet Healthcare Corporation (THC) have completed a new, three-year agreement providing UnitedHealthcare’s Commercial and Medicare Advantage members with in-network access to Tenet’s 79 hospitals, 193 outpatient centers and more than 1,800 employed physicians throughout the country. The new agreement is effective August 1, 2014. “This agreement provides consumers uninterrupted access to quality care in their local communities,” said Dan Rosenthal, president of UnitedHealthcare Networks. “We are pleased to renew this national contract with Tenet which gives our members access to providers focused on driving care improvements and offers competitive reimbursement rates, a portion of which, importantly, rewards Tenet for achieving certain quality measures.”
News For UNH;THC From The Last 14 Days
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March 4, 2015
17:11 EDTTHCOn The Fly: Closing Wrap
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12:28 EDTTHCOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory but have paired their losses near midday. There was little reaction to the day’s economic data, which were highlighted by private payrolls growth that was a bit lower than expected and a crude oil inventory build-up that was much greater than expected. Investors are now looking forward to this afternoon, when the Federal Reserve will release its Beige Book report at 2:00 pm EST. ECONOMIC EVENTS: In the U.S., ADP reported private payrolls increased 212K in February, versus the consensus forecast for the addition of 219K jobs. Markit's services PMI rose to 57.1 in the final February reading, which was up from the 57.0 flash print, where it was expected to remain. ISM's services index edged up 0.2 points to 56.9 in February, which was above the consensus 56.5 forecast. In Asia, the biggest news came from India, whose central bank unexpectedly lowered its policy rate for the second time this year. The bank lowered its policy repo rate by 25 basis points to 7.5%, citing "low capacity utilization and still-weak indicators of production" for its pre-emptive policy action. COMPANY NEWS: Shares of a number of hospital operators' stocks jumped after U.S. Supreme Court Justice Anthony Kennedy expressed skepticism about the arguments from challengers' of a key component of the Affordable Care Act. At midday, after the high court ceased hearing arguments for the day, HCA Holdings (HCA) was up over 5.5%, Community Health (CYH) was up 5%, and Tenet Healthcare (THC) was up 4%... Exxon Mobil (XOM) stated at its analyst meeting that the company's capital expenditures came in $1.3B below plan at $38.5B last year and that it plans to cut that to $34B in 2015 based on expectations for reduced Upstream spending and "attractive" Downstream and Chemical investments. For 2016 to 2017, Exxon said it expects capital expenditures to average less than $34B per year. Despite the lower spending, Exxon Mobil sees its total Upstream production to be up 2% in 2015 and grow 3% per year in 2016 and 2017. MAJOR MOVERS: Among the notable gainers following their earnings reports were online-only home goods retailer Wayfair (W), which rose 15% and gunmaker Smith & Wesson (SWHC), which advanced over 10%. Among the noteworthy losers following their earnings reports were Bazaarvoice (BV), which fell 28%, and Abercrombie & Fitch (ANF), which dropped 13%. Also lower were shares of Bob Evans Farms (BOBE), which sunk 22% after its third quarter results fell below analysts' consensus estimates, the company lowered its fiscal year 2015 profit outlook and announced it would not pursue a sale or spin-off of its BEF Foods segment. INDEXES: Near midday, the Dow was down 87.26, or 0.48%, to 18,116.11, the Nasdaq was down 9.46, or 0.19%, to 4,970.44, and the S&P 500 was down 8.51, or 0.4%, to 2,099.27.
12:06 EDTTHCHospital stocks rise as Justice Kennedy voices concerns about Obamacare lawsuit
Liberal Supreme Court justices, along with a justice viewed as the "swing" justice on many cases, made statements today which suggested that they are skeptical about the arguments of plaintiffs who are asking the court to strike down subsidies under Obamacare in 34 states. Hospital stocks are rising, as hospitals benefit if more Americans are insured, and striking down the subsidies would cause fewer Americans to have health insurance. BACKGROUND: The plaintiffs in the case before the Supreme Court today, King vs. Burwell, argue that the Affordable Care Act, which launched Obamacare does not give the federal government the authority to offer subsidies through a health insurance exchange. A health insurance exchange operated by the federal government currently pays subsidies to consumers in 34 states that have not launched their own health insurance exchanges. If the Supreme Court rules in favor of the plaintiffs, the federal government would likely have to stop operating the exchange and paying the subsidies in those states. The court is expected to issue a decision on the case in June. WHAT'S NEW: Justice Anthony Kennedy, who may be considered to be the "swing" vote of the court, said that there is "a serious constitutional problem" with the plaintiffs' argument that states have to choose between launching their own exchanges or giving up subsidies, according to The Wall Street Journal. Kennedy also characterized as "powerful" the Obama administration's argument that the health-care law would disintegrate if the subsidies were struck down in most states, as the plaintiffs request. Justice Ruth Ginsburg said there would be disastrous consequences for states that haven't created their own exchanges if the court decides in favor of the plaintiffs, while Justice Sonia Sotomayor said that no one would use the federal exchanges if they could not get subsidies through it, The Journal reported. Justice Breyer said he thought that the law indicates that the federal government should run exchanges if states decline to do so, while Justice Kagan suggested, using an analogy, that it would be natural for the federal government to provide subsidies for residents of states that decline to operate exchanges, the newspaper reported. PRICE ACTION: In late morning trading, Community Health (CYH) rose 5% to $52, HCA Holdings (HCA) gained 6% to $75, Tenet Healthcare (THC) rose 5% to $49.50, and LifePoint (LPNT) advanced 2.5% to $73.
08:31 EDTUNHInsperity forms broker alliance with UnitedHealth
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08:17 EDTUNHUnitedHealth management to meet with Deutsche Bank
Meeting to be held in Kansas City, MO on March 4 hosted by Deutsche Bank.
06:39 EDTUNHNo preparations under way for elimination of some subsidies, NY Times says
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March 3, 2015
08:02 EDTUNHUnitedHealth management to meet with Deutsche Bank
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March 2, 2015
10:02 EDTTHCHigh option volume stocks
High option volume stocks: MNTA NTRI KOS NST GSAT THC CHL MSI CAKE NXPI
February 24, 2015
11:26 EDTTHCTenet rises over 3% after reporting Q4 results, backing FY15 outlook
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February 23, 2015
19:40 EDTTHC, UNHLeerink healthcare services analyst holds an analyst/industry conference call
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16:27 EDTUNHOn The Fly: Closing Wrap
Stocks on Wall Street began the session in negative territory and remained there for most of the session, with the Nasdaq the lone index to post a small gain. The Dow was weighed down by shares of Boeing (BA), which slid after the stock received a downgrade. There was little in the way of positive economic news, as the most notable report showed existing homes were lower than expected due to a shortage of inventory. The averages drifted for most of the session, as investors may be waiting on the sidelines ahead of tomorrow’s banking panel testimony by Fed Chair Janet Yellen. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index rebounded to 0.13 in January, which was nearly in-line with expectations. Existing home sales dropped 4.9% to a 4.82M rate in January, which was much worse than the expected 1.8% drop to a 4.95M unit rate. In Europe, the Ifo Institute’s measure of German business confidence rose to 106.8 in February, which was up a tenth of a percentage point from the previous month but below the 107.7 consensus forecast. Also, the Bank of Israel became the latest central bank to cut rates this year, lowering its main interest rate to 0.1% from 0.25%. COMPANY NEWS: The shares of a number of health insurers rose after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for the insurers. Following the CMS announcement made late Friday, Humana (HUM) climbed $8.40, or 5.38%, to $164.52, UnitedHealth (UNH) rose $3.78, or 3.36%, to $116.40, and WellCare (WCG) gained $4.68, or 5.53%, to $89.30. MAJOR MOVERS: Among the notable gainers was PTC Therapeutics (PTCT), which jumped $9.77, or 17.7%, to $64.96 after Reuters said the company is working with financial advisers to explore a potential sale after receiving takeover interest from several companies including Shire (SHPG) and BioMarin (BMRN). Also higher was Valeant (VRX), which rose $25.49, or 14.71%, to $198.75 after the company agreed to buy Salix (SLXP) for $158 per share and also reported better-than-forecast earnings. Salix shares, however, fell $2.09, or 1.32%, to $155.76, as a report Friday from CNBC's David Faber telegraphed the deal and suggested Valeant could value Salix around $160 per share. Among the noteworthy losers was Spectrum Pharmaceuticals (SPPI), which dropped $1.18, or 15.82%, to $6.28 after a judge ruled that a drug which could compete with the company's Fusilev treatment does not infringe on the company's intellectual property. Also lower were shares of Boeing, which fell $3.57, or 2.26%, to $154.74 after the stock was downgraded to Sell from Neutral at Goldman Sachs. INDEXES: The Dow fell 23.60, or 0.13%, to 18,116.84, the Nasdaq gained 5.01, or 0.1%, to 4,960.97, and the S&P 500 slipped 0.64, or 0.03%, to 2,109.66.
15:23 EDTTHCNotable companies reporting after market close
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12:21 EDTUNHOn The Fly: Midday Wrap
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11:10 EDTUNHHealth insurers rise after CMS releases preliminary Medicare Advantage rates
The shares of a number of health insurers are rising after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for health insurers. WHAT'S NEW: On Friday after the market closed, CMS issued a proposal for 2016 Medicare Advantage rates. The rates are preliminary and could change when CMS announces the final 2016 rates on April 6 of this year, the agency noted. In a note to investors earlier today, Credit Suisse analyst Ralph Giacobbe estimated that, under CMS' initial proposal, insurers would see rate changes of between -1% and +1%, depending on the risk that each insurer faces. The preliminary rates were "favorable" for insurers, since the rates were "in-line if not slightly better" than investors had expected, the firm stated. Moreover, CMS decided not to restrict at-home health risk assessments, as had been feared, and agreed to reduce the weighting of certain risk factors that had hurt previously certain plans with a higher proportion of low-income beneficiaries, acceding to a request by insurers. Insurers with the highest exposure to Medicare Advantage include Humana (HUM), UnitedHealth (UNH), and WellCare (WCG), the analyst stated. WHAT'S NOTABLE: After analyzing CMS' proposal, health insurer Aetna (AET) estimated that the proposal would cause government funding for its Medicare Advantage business to decline by about 1% in 2016. Aetna added that it is continuing to evaluate the changes outlined in the Advance Notice and their impact on the company and its Medicare Advantage members. OTHERS TO WATCH: Other publicly traded health insurance companies include Anthem (ANTM), AMERIGROUP (AGP), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), and Molina Healthcare (MOH). PRICE ACTION: In mid-morning trading, Humana climbed 5.3% to $164.43, UnitedHealth rose 2.6% to $115.56, WellCare gained 6.3% to $90, Aetna advanced 2% to $99.91, and Centene added 3.4% to $61.93.
08:05 EDTUNHCMS releases preliminary Medicare Advantage rates for 2016
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February 20, 2015
08:41 EDTUNHInsurers should be bought on weakness related to MA rates, says BMO Capital
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