Sun, Oct. 4, 8:23 PM
- Ralph Lauren (NYSE:RL) is tapped for more even more gains after rallying sharply following last week's announcement of the resignation of CEO Ralph Lauren. New CEO Stefan Larsson is seen adding some fast-fashion punch to the luxury mindset at the company.
- Tenet Healthcare (NYSE:THC) could rise as much as 70% with mergers expected to start feeding the bottom line, observes Barclays. Concerns over Tenet's debt load has driven shares down sharply to levels seen as attractive.
- Margins at Boston Scientific (NYSE:BSX) are expected to improve with new products looking promising. The consensus price target on Wall Street implies close to a 20% gain is in store.
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
Mon, Aug. 3, 5:09 PM
Mon, Jun. 29, 3:30 PM
- Becton, Dickinson (BDX +0.3%) upgraded to Buy from undefined with a $167 (18% upside) price target by UBS.
- Community Health Systems (CYH -0.9%) upgraded to Buy from Neutral with an $83.90 (33% upside) price target by Mizuho Securities.
- LifePoint Health (LPNT +2.8%) upgraded to Buy from Neutral with a $95.71 (11% upside) price target by Mizuho Securities.
- UnitedHealth Group (UNH -1.3%) upgraded to Buy from Neutral with a $126 (3% upside) price target by Sterne Agee CRT.
- Tenet Healthcare (THC -1.5%) upgraded to Outperform from Market Perform with a $64 (12% upside) price target by Wells Fargo.
- Cepheid (CPHD -1.7%) raised to Buy from Hold with a $75 (25% upside) price target by Craig-Hallum.
- Merge Healthcare (MRGE -0.1%) upgraded to Buy from Hold with a $5.75 (17% upside) price target by Topeka Capital.
- Alere (ALR -0.2%) upgraded to Buy from Neutral with a $60 (15% upside) price target by Goldman Sachs.
- Smith & Nephew (SNN -2.1%) upgraded to Buy from Neutral with a 1275p (16% upside) price target by UBS.
- Aerie Pharmaceuticals (AERI -4.3%) upgraded to Buy from Hold with a $40 (135% upside) price target by Canaccord Genuity.
Thu, Jun. 25, 12:45 PM
Tue, Jun. 2, 10:25 AM
- Tenet Healthcare (THC -0.5%) is offering $500M aggregate principal amount of newly issued senior secured notes and $1.9B aggregate principal amount of senior unsecured notes (through THC Escrow) through private placements.
- Net proceeds will fund the repayment of $400M in term loans under its March 23, 2015 Interim Loan Agreement and for general corporate purposes.
Mon, Jun. 1, 1:12 PM
- In a regulatory filing, Tenet Healthcare (THC +0.1%) discloses that it has agreed to sell its St. Louis University Hospital to St. Louis University. The price is not specified, but it appears to be taking a loss on the deal considering its planned $150M - 160M pre-tax impairment charge this quarter ($95M - 100M after-tax). The transaction should close in Q3.
Mon, May 4, 4:48 PM
- Tenet Healthcare (NYSE:THC) Q1 results ($M): Revenues: 4,428 (+12.8%); Operating Income: 290 (+70.6%); Net Income: 47 (+246.9%); EPS: 0.47 (+242.4%); Quick Assets: 522 (+167.7%); CF Ops: (57) (-200.0%).
- Total admissions: 208.3M (+7.2%); Total patient days: 958.4K (+3.1%).
- 2015 Guidance: Revenues: $17.4B - 17.7B; Non-GAAP EBITDA: $2.05B - 2.15B; EPS: $1.32 - 2.40.
- Q2 Guidance: Non-GAAP EBITDA: $500M - 550M; EPS: $0.15 - 0.64.
- Shares are up 3% after hours on moderate volume.
Mon, May 4, 4:11 PM
Mon, Mar. 23, 7:03 AM| Mon, Mar. 23, 7:03 AM | Comment!
Mon, Mar. 23, 2:01 AM
- Tenet Healthcare (NYSE:THC) is poised to buy United Surgical Partners in a deal that could be worth more than $2.5B, WSJ reports, saying the acquisition could be announced as soon as today.
- United Surgical Partners, which operates more than 200 short-stay surgical facilities, is controlled by P-E firm Welsh, Carson, Anderson & Stowe.
Wed, Mar. 4, 7:21 PM
- Shares of hospital operators and some managed care providers turned in strong gains today after the U.S. Supreme Court entertained arguments on a case that questioned whether Obamacare health insurance subsidies should be provided in the 34 states that have not set up their own exchanges (transcript).
- The catalyst come from questions posed by Justice Kennedy - considered a swing vote on the issue - voicing concerns about potential constitutional consequences of a ruling that strikes down the availability of the subsidies.
- Kennedy said throwing out subsidies would potentially unlawfully pressure states and cause an insurance "death spiral" because premiums would increase, but he also said he had an open mind over the challengers' interpretation of the law.
- CYH +6.3%, THC +6.2%, HCA +5.8%, LPNT +3.6%, EVHC +3.6%, UHS +2.7%, TMH +2%.
Wed, Mar. 4, 12:11 PM
- Hospitals rally on comments from Supreme Court Justice Anthony Kennedy, often a swing vote in important cases. He says there is a powerful point to the Obama administration's argument that the Affordable Care Act would fall apart if the subsidies were ruled invalid.
- The Court is currently hearing arguments in the case King v. Burwell, which challenges federal subsidies in states that did not create their own health insurance exchanges. Its final decision will not be announced until June, though.
- Hospitals and health insurers have the most at stake. They have benefited greatly since the law was signed in 2010. To date, 11.4M Americans have signed up for coverage in 2015, giving both groups more paying customers and potentially cutting the number of non-paying emergency room visits. If the subsidies were ruled invalid then many people would drop coverage due to the higher cost.
- Related tickers: (HCA +6.2%)(THC +5.4%)(UHS +2.6%)(CYH +5.4%)(LPNT +3.3%)(SEM -0.9%)(SSY)(HUM +0.1%)(CI -0.4%)(CNC)(MOH +0.3%)(ANTM +0.5%)(UNH +0.3%)(MGLN +0.3%)(WCG +0.3%)
Mon, Feb. 23, 4:17 PM
Mon, Feb. 23, 12:07 PM
- Among the additions to the index (which fuels the IBLN ETF) are EMC, Google (GOOG, GOOGL), Goodyear (NASDAQ:GT), Mohawk Industries (NYSE:MHK), PVH, Time Warner (NYSE:TWX), and Yahoo (NASDAQ:YHOO). There are three health care additions as well: Allergan (NYSE:AGN), Amgen (NASDAQ:AMGN), and HCA. The lone energy name added is Consol Energy (NYSE:CNX).
- Exiting the index are energy names Halliburton (NYSE:HAL) and National-Oilwell Varco (NYSE:NOV), along with healthcare companies AbbVie (NYSE:ABBV), Aetna (NYSE:AET), Humana (NYSE:HUM), and Tenet Healthcare (NYSE:THC). Citigroup (NYSE:C), CBS, Crown Castle (NYSE:CCI), and Michael Kors (NYSE:KORS) round out those subtracted.
- IBLN tracks the highest-conviction S&P 500 picks by hot-handed billionaires who built their fortunes through hedge funds and investing. The list of billionaires tracked is updated each October, and the equity components are rebalanced each quarter after sifting through regulatory filings.
- IBillionaire Index Rebalance
Sun, Feb. 22, 5:35 PM
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