Shares of Tenet Healthcare Corp (NYSE:THC) ended Friday session in red amid volatile trading. The shares closed down -1.05 points or -4.24% at $23.62. Post opening the session at $24.40, the shares hit an intraday low of $23.56 and an intraday high of $24.45 and the price vacillated in this range throughout the day. The company has a market cap of $2.25 billion and the numbers of outstanding shares have been calculated to be 99.52 million shares.
Tenet Healthcare Corp (THC) senior management will participate in the following investor conference in September 2016:
Morgan Stanley Global Healthcare Conference in New York on Monday, September 12, 2016 at approximately 8:45 a.m. ET
A live webcast for each conference and copies of any related presentation materials may be accessed through the investor relations section of Tenet’s website, www.tenethealth.com/investors. It is suggested that interested parties access the website at least 15 minutes before the scheduled start time to download and install any necessary audio software.
Shares of Concordia International Corp (NASDAQ:CXRX) ended Friday session in red amid volatile trading. The shares closed down -0.42 points or -5.44% at $7.30 with 1.45 million shares getting traded. Post opening the session at $7.60, the shares hit an intraday low of $7.15 and an intraday high of $7.60 and the price vacillated in this range throughout the day. The company has a market cap of $372.42 million and the numbers of outstanding shares have been calculated to be 1.00 million shares.
Concordia International Corp (CXRX) on August 12, 2016 announced its financial and operational results for the three and six months ended June 30, 2016.
- Second quarter 2016 revenue of $231.7 million, an increase of 1.4 per cent over the first quarter of 2016 and 208 per cent over the second quarter of 2015
- Reported second quarter GAAP net loss of $570.5 million, GAAP earnings per share loss of $11.18, which was primarily due to an adjustment to the carrying values of Nilandron® and Plaquenil® by $567 million due to generic competition
- Second quarter 2016 adjusted EBITDA of $142.3 million and adjusted earnings per share of $1.38
- Concordia’s International segment launched 13 new products since October 21, 2015; the Company remains on track to meet its target of 60 plus launches in the next three years
- Revises 2016 guidance to US$859 million to US$888 million of revenue and adjusted EBITDA to US$510 million to US$540 million
“Our international segment continues to perform well as the team executes and delivers on its business plan,” said Mark Thompson, Chairman and Chief Executive Officer of Concordia. “However, we have revised our 2016 guidance to reflect the impact of unexpected competition on several products in our North America segment, and current foreign currency exchange rates. Notwithstanding these revisions, we continue to maintain a strong free cash flow profile, our debt structure has no ongoing maintenance covenants and we are in compliance with all of our debt covenants. Furthermore, the business we have built reflects the value of having therapeutic and geographic diversity across our global platform. We remain committed to building a dynamic international specialty pharmaceutical company and driving long-term shareholder value.”