On Wednesday, Community Health Systems(NYSE:CYH)’s shares inclined 0.81% to $52.02.
Community Health Systems, Inc. (CYH) declared that it plans to create a new publicly traded hospital company by spinning off to Community Health Systems’ stockholders a group of 38 hospitals and Quorum Health Resources, LLC, a leading hospital administration and consulting business. The new company will be named Quorum Health Corporation to leverage the existing strength of the Quorum brand. The spin-off is intended to be tax-free to Community Health Systems and its stockholders and is predictable to be accomplished in the first quarter of 2016.
Quorum Health Corporation will be headquartered in middle Tennessee and will operate independently with its own board of directors and administration team. It will comprise a diversified portfolio of 38 hospitals with an aggregate of 3,635 licensed beds across 16 states. The hospitals that will comprise Quorum Health Corporation have strong market positions and are primarily located in cities or counties having populations of 50,000 or less. In 84 percent of these markets, the hospital is the sole provider of acute care hospital services. In 2014, The Joint Commission recognized 74 percent of the hospitals that will become part of Quorum Health Corporation as Top Performers in Key Quality Measures. The new company will also comprise Quorum Health Resources, which provides hospital administration and consulting services to 150 non-associated hospitals across the United States, most of which are located in similar markets as Quorum Health Corporation’s sole provider hospitals.
Community Health Systems, Inc., together with its auxiliaries, provides general and specialized hospital healthcare services to patients in the United States. The company operates general acute care hospitals that offer a range of inpatient and outpatient medical and surgical services, such as general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, in addition to skilled nursing and home care services based on individual community needs.
Ingram Micro Inc. (NYSE:IM)’s shares gained 1.46% to $26.38.
Ingram Micro Inc. ( IM) declared its CEO Alain Monié has been named to The Channel Company’s prestigious 2015 CRN® Top 100 list. CRN’s annual Top 100 list recognizes the efforts of agile decision-makers who play an integral role in evolving the way the channel does business. These leaders, hand-picked by the CRN editorial staff, represent many of the pre-eminent innovators, influencers, disrupters and channel sales leaders in the IT channel recently.
CRN also recognized Monié as one of this year’s Top 25 Channel Sales leaders. CRN credited Monié with leading Ingram Micro to $46.5 billion in sales; investing heavily in the Ingram Micro Cloud Marketplace — counting expanding geographically beyond North America and closely aligning with Microsoft to launch Office 365; in addition to, boosting its mobility business “by more than 200 percent.”
Ingram Micro Inc. distributes information technology (IT) products; and provides supply chain and mobile device lifecycle services worldwide. The company offers printers, scanners, displays, projectors, monitors, panels, mass storage, and tape products; digital signage products; digital cameras and video disc players, game consoles, televisions, audio, small appliances, media administration, and home control products; barcode/card printers, AIDC scanners and software, and wireless infrastructure products; Internet protocol video surveillance, security and fire alarm systems, and access control smart cards; processors, motherboards, hard drives, and memory products; and ink and toner supplies, paper, carrying cases, and anti-glare screens.
At the end of Wednesday’s trade, Oshkosh Corporation (NYSE:OSK)‘s shares surged 0.17% to $40.86.
Oshkosh Corporation (OSK) stated fiscal 2015 third quarter net income of $89.9 million, or $1.13 per diluted share, contrast to $105.1 million, or $1.22 per diluted share, in the third quarter of fiscal 2014. Fiscal 2014 third quarter adjusted1 net income was $105.7 million, or $1.23 per diluted share, not taking into account an after-tax, other post employment benefits (OPEB) curtailment gain of $6.2 million related to declared workforce reductions in the Company’s defense segment and after-tax costs of $6.8 million resulting from a reduction in eligible OPEB costs under historical cost-plus government contracts. As predictable, fiscal 2015 third quarter results were positively influenced by $0.09 per share due to tax audit settlements and expiration of statutes of limitations and negatively influenced contrast to the preceding year quarter by $0.11 per share from currency translation, particularly the euro and Australian dollar, which declined against the U.S. dollar. Comparisons in this press release are to the corresponding period of the preceding year, unless otherwise noted.
Merged operating income in the third quarter of fiscal 2015 was $136.6 million, or 8.5 percent of sales, contrast to $174.3 million, or 9.0 percent of sales, in the preceding year third quarter. Fiscal 2014 third quarter adjusted1 merged operating income was $175.3 million, or 9.0% of sales, not taking into account before-tax OPEB adjustments that netted to $1.0 million. Lower operating income in the Company’s access equipment and defense segments on lower sales during the third quarter of fiscal 2015 resulted in the lower merged operating income.
Oshkosh Corporation designs, manufactures, and markets specialty vehicles and vehicle bodies worldwide. Its Access Equipment segment offers aerial work platforms and telehandlers used in construction, agricultural, industrial, institutional, and general maintenance applications. This segment also offers towing and recovery equipment, and carriers and wreckers; and installs equipment and sells chassis and service parts, in addition to offers rental fleet loans and leases, and floor plan and retail financing through third-party funding arrangements.
BlackRock, Inc. (NYSE:BLK), ended its Wednesday’s trading session with 1.31% gain, and closed at $298.15.
With U.S. monetary policy turning, fundamentals such as productivity and earnings growth are poised to regain prominence as drivers of investment return - with some key indicators “flashing red,” according to BlackRock (BLK) Investment Institute’s (BII) mid-year 2015 investment outlook.
The mid-year outlook, “Nearing Normal,” provides an update on BII’s main economic assumptions and top investment ideas for 2015, a year so far characterized by divergence in global central bank monetary policy and asset prices.
BlackRock, Inc. is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors. It also manages accounts for corporate, public, union and industry pension plans, insurance companies, third-party mutual funds, endowments, foundations, charities, corporations, official institutions, and banks.
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