Tenet Healthcare (THC) Drops 15% on Downgrade
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.
eBay (EBAY) Amazes Shareholders with Stellar EarningsShares 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 QuarterFast-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 DowngradeShare 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, 2015By Aaron Phillips