Tenet Healthcare (THC) Drops 15% on Downgrade

Markets were up big in higher than average volume trading today. The Dow led the day in real gains, adding 1.87%, or 320.55 points, and closed out trading at 17,489.16. The NASDAQ gained 79.93 points and closed out the trading day at 4,920.05. The S&P 500 was up as well, adding 33.57 points and closing the day at 2,052.51.

Things were a little shakier in international trading. Some markets were down, especially across Asia. Japan’s Nikkei saw losses of 118 points, while the Hang Seng in hong Kong -- China’s de facto marketplace -- dropped by 144 points. Australia’s ASX exchange posted a gain of 13 points.
Things were a little bit brighter across Europe, where markets saw widespread gains. London’s FTSE was slowest, but still posted a 29-point surge. In Germany, the DAX was up 254 points, while France’s CAC added 107.

eBay (EBAY) Amazes Shareholders with Stellar Earnings

Shares of eBay (EBAY) shot up today, on news that it had an excellent quarter. The company announced their earnings report today, and shareholders had reason to be optimistic. Shares of eBay gained 14% in trading today, adding 3.38 points to close the day at $27.59.

McDonald’s (MCD) Posts a Stronger Than Expected Quarter

Fast-food behemoth McDonald’s (MCD) stunned shareholders today by posting a profit for the first time in over two years. The share price of the burger chain shot up by more than 8%, gaining 8.33 points, and closing out the trading day at $110.87 per share. McDonald’s has been plagued by poor sales and store closures, and for the first time in recent memory it will close more stores than it opens this year.

Some of the problems facing McDonald’s seem to be reversing themselves over time. For one, consumer spending has leveled off and is now in the rise, and that means more meals out at the burger chain for Americans. The dollar has also weakened slightly over the past quarter, giving the chain a small edge in overseas profits. Still, this was a surprising development for McDonald’s, which has been plagued by bad news lately.

Tenet Healthcare (THC) Drops 15% on Downgrade

Share prices of Tenet Healthcare (THC) plummeted today, after it was announced that analysts with Mizuho Securities downgraded the stock. The downgrade was from “Outperform” to “Neutral” and was carried out by covering analyst Sheryl Skolnick. The company set a 12-month target on Tenet at $30. In trading today, Tenet Healthcare lost 6.57 points to close the day at $28.24 per share.
Published on Oct 22, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2016. Content published with author's permission.

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