Mon, Nov. 23, 2:47 PM
- Goldman Sachs' Hedge Fund VIP list of the 50 most-heavily-owned stocks have trailed the S&P 500 by about 500 basis points (down 2% vs. the S&P's 3% gain) year-to-date, including 720 basis points of underperformance since the start of October (down about 8% vs. down about 1%).
- Call it the Valeant effect: Health-care stocks have accounted for about 70% of the year-to-date 2% decline.
- Based on the most recent filing, hedge funds are bailing on some of their poorer performers, including Valeant (NYSE:VRX), HCA Holdings (NYSE:HCA), Endo (NASDAQ:ENDP), Ally Financial (NYSE:ALLY), and NorthStar Realty (NYSE:NRF), and have instead placed bets on Baidu (NASDAQ:BIDU), Mylan (NASDAQ:MYL), MGM Resorts (NYSE:MGM), and GE.
- After the shakeup, the top five hedge fund hotels: Allergan (NYSE:AGN), Facebook (NASDAQ:FB), Alphabet (GOOG, GOOGL), Time Warner Cable (NYSE:TWC), and Amazon (NASDAQ:AMZN).
Tue, Oct. 27, 10:29 AM
- HCA Holdings (HCA +1.1%) Q3 results: Revenues: $9,856M (+6.9%); Salaries and Benefits: $4,619M (+9.7%); Supplies: $1,644M (+6.8%); Other Operating Expenes: $1,796M (+6.4); Adjusted EBITDA: $1,815M (-0.7%); Net Income: $449M (-13.3%); EPS: $1.05 (-9.5%); Quick Assets: $588M (+3.9%).
- Reported Admissions: 466,400 (+3.8%); Equivalent Admissions: 787,300 (+4.8%); Revenue per Equivalent Admission: 12,517 (+2.0%); Inpatient Surgery Cases: 134,000 (+2.1%); Outpatient Surgery Cases: 226,400 (+1.7%); ER Visits: 2,023,100 (+7.2%).
- 2015 Guidance: Non-GAAP EBITDA: ~ $7.8B; Non-GAAP EPS: $5.20 - 5.25.
Tue, Oct. 27, 8:32 AM
Mon, Oct. 26, 5:30 PM
- AHGP, AIXG, AKS, AME, AMTD, ARG, ARLP, AVX, AXE, BABA, BAX, BEAV, BMY, BP, BTU, CMCSA, CMI, CNC, CNX, COH, CPLA, CRY, CVLT, CYNO, DD, ERJ, F, FBC, FCH, FDP, FMER, GLW, GPI, GRUB, HCA, HUN, ICLR, IIVI, IMGN, IPGP, IPI, IR, JBLU, LPT, LRN, LXK, MAS, MDC, MDSO, MGLN, MMC, MNI, MRK, MSM, NCI, NVS, ONE, PCAR, PCH, PCRX, PFE, POL, POR, QSR, RAI, RDN, SAVE, SCHN, SEE, SIR, SPG, SPR, ST, SUI, TMUS, TREX, TXT, UPS, UTHR, WAT, WDR, WM, WSO, WYN, YNDX
Thu, Oct. 22, 9:26 AM
- Community Health's (NYSE:CYH) failure to meet Q3 consensus has created softness for other hospital operators. Tenet Healthcare (NYSE:THC) is down 12% and (NYSE:HCA) is down 7% in premarket trading.
- Previously: Preliminary Q3 results sink Community Health; shares down 22% premaket (Oct. 22)
Thu, Oct. 22, 9:14 AM
Thu, Oct. 15, 9:13 AM
Wed, Oct. 14, 5:39 PM
Wed, Oct. 14, 4:37 PM
Wed, Sep. 16, 7:03 PM
- J.P. Morgan analysts warn that companies with large amounts of floating-rate debt - including Chesapeake Energy, Freeport McMoRan, Ford and GE - could be at risk if the Fed decides to raise interest rates.
- Companies with variable/floating-rate debt suffer a more immediate impact by a rate hike than companies with fixed-rate debt, the analysts say; variable-rate coupons typically reset quarterly, meaning that changes in the base rate flow through almost immediately to variable-rate borrowers, while fixed-rate borrowers do not see such an impact until they refinance or issue new debt.
- JPM lists 25 companies - not including financials - that have the “highest variable-rate debt as a percentage of market cap": FMC, NRG, FCX, AES, CVC, LVLT, PVH, CHK, FE, DVA, THC, OI, CNX, F, HCA, FOSL, RCL, JOY, GE, ADS, ALLE, HBI, GT, DNB, AN
Tue, Aug. 25, 5:35 PM
- investors should stick with "market darlings" - the 25 stocks that had performed the best during the six months before a market pullback - according to the analyst team at RBC.
- The firm notes that although many recent winners are leading the market lower, the extent of the underperformance is just 1%; it also says investing in the group following sharp market pullbacks is a winning strategy over the ensuing week, month and six months.
- RBC's 25 market darlings are AET, ALTR, AMZN, AIZ, CVC, CI, CAG, EA, EQIX, EXPE, GME, GOOGL, HAS, HCA, MNST, NFLX, NKE, PRGO, REGN, SBUX, TSO, TWC, TSS, UA, UHS
Wed, Aug. 5, 9:09 AM
- HCA Holdings (NYSE:HCA) Q2 results ($M): Net Revenues: 9,897 (+7.2%); Operating Expenses: 7,917 (+8.8%); Non-GAAP EBITDA: 2,008 (+0.4%); Quick Assets: 673 (+2.3%).
- Net Income: 507 (+5.0%); EPS: 1.18 (+10.3%); CF Ops: 1,057 (-15.4%).
- Admissions: 464,200 (+4.8%); Equivalent Admissions: 778,200 (+6.0%); Revenue per Equivalent Admission: 12,719 (+1.2%); Inpatient Surgery Cases: 131,800 (+2.4%); Outpatient Surgery Cases: 228,300 (+1.5%); ER Visits: 2,007,400 (+8.5%).
- 2015 Guidance: Net Revenues: $39B - 40B (unch); Non-GAAP EBITDA: $7.55B - 7.85B (unch but upper end of range); Non-GAAP EPS: $4.90 - 5.30 (unch); CAPEX: ~$2.5B (unch).
Wed, Aug. 5, 8:33 AM
Tue, Aug. 4, 5:30 PM
- AMSC, ANSS, ARIA, ARQL, ATHM, ATRO, AVA, AVT, BLT, CEQP, CHK, CLDT, CLH, CMLP, CONE, CRK, CRME, CSTE, CSTM, CTSH, D, DAVE, DISCA, DISH, DNOW, DNR, EE, ENBL, FI, GDP, GTN, HCA, HFC, HSC, ICE, INXN, KATE, KELYA, KERX, LDOS, LG, LINC, LIOX, LL, LPLA, MEMP, MSI, MSO, MWE, PCLN, PWR, RDC, RL, SALE, SBGI, SCMP, SE, SNAK, SODA, SPAR, SPB, SUP, TMHC, TWX, USAC, VC, VLP, VOYA, VSI, WCG, WD, WEN, WIX
Wed, Jul. 15, 4:53 PM
- HCA Holdings expects to report Q2 revenue of $9.897B and EPS of $1.18. The former is above a $9.77B consensus, but the latter is below a $1.32 consensus.
- Same facility admissions rose 4.1% Y/Y, same facility equivalent admissions 4.9%, and same facility emergency room visits 7.4%. Same facility revenue per equivalent admission is expected to be up 2.8% Y/Y, after factoring a $142M one-time adjustment.
- Adjusted EBITDA is now expected to be near the high end of a prior $7.55B-$7.85B guidance range.
- HCA -1% AH to $93.15. Formal Q2 results are expected to arrive on or about Aug. 5.
Thu, Jun. 25, 12:45 PM
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