DIRS.INFO The most relevant business & tech news

☆ One of the biggest US hospital chains was slammed in the third quarter by high temporary staffing costs, and it has investors spooked
▼ + stars: | 2022-10-24 | by ( ) www.businessinsider.com time to read: +3 min

Major chain Tenet Health said last week that labor costs ate away at its third-quarter finances. Last week, Tenet reported lower revenue and earnings in the third quarter compared with 2021, missing Wall Street's expectations as the company suffered from higher temporary labor costs. Investors had expected Tenet to report an improvement in contract labor costs, Ben Hendrix, an analyst at RBC Capital Markets, said in a Friday note. Contract labor increased to 11% of total hospital labor expenses, compared with just 2% in 2019, according to the report. "We still are running with a lot more nurses in contract labor than we did in 2019," he said.

☆ Stocks making the biggest moves midday: Avis, Pinduoduo, Starbucks, Alibaba and more
▼ + stars: | 2022-10-24 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

People wait in line at Avis rental agency in the Miami International Airport Car Rental Center. Starbucks — Starbucks' shares dropped more than 5% in midday trading. Avis Budget Group — Shares of the rental car company jumped more than 12% after being upgraded by JPMorgan to overweight from neutral. Analysts believe car rental prices will remain elevated longer than investors believe. Tractor Supply Company — Shares of Tractor Supply Company rose 5.5% along with the market.

☆ Inflation is dominating the conversation on earnings calls. Here's what execs are saying
▼ + stars: | 2022-10-24 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

One thing's clear at the start of the corporate earnings season: Inflation is still a hot topic for companies. The consumer price index increased 0.4% in September, which was a hotter reading than the 0.3% expected by Dow Jones, according to the Bureau of Labor Statistics. It was at 0.6% without food and energy factored in, which was also above Dow Jones' estimate of 0.4%. That was similarly above the Dow Jones expectation of 0.2%. The company beat earnings per share expectations for the third quarter but revenue came in lower than analysts anticipated.

Oct 21 (Reuters) - HCA Healthcare Inc (HCA.N) on Friday reported lower-than-expected third-quarter revenue as hospital admissions related to COVID-19 dropped, dragging its shares nearly 5% lower in premarket trade. The decline in COVID-related admissions, which had peaked due to the Delta variant-led wave last year, led to a 1.5% drop in overall same facility admissions, and a 3.5% fall in same facility revenue per equivalent admission. Total revenue fell 2% to $14.97 billion, falling short of analysts' estimates of $15 billion, as per Refinitiv IBES data. Register now for FREE unlimited access to Reuters.com RegisterA similar trend was also seen at rival Tenet Healthcare Corp (THC.N), which also saw a decline in same-hospital admissions and revenue. Excluding one-off items, HCA reported earnings of $3.93 per share, above estimates of $3.88 per share.

☆ Stocks making the biggest moves midday: Snap, American Express, Verizon, Twitter and more
▼ + stars: | 2022-10-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Snap — Shares of the Snapchat parent company cratered 30% after missing revenue estimates and sharing its slowest sales growth since going public as advertising spending slows. The results from Snap hit other ad-reliant stocks, sending shares of Pinterest and Meta Platforms down about 7.7% and 2.6%, respectively. Twitter — The social media stock sank more than 4% Friday amid a slew of media reports surrounding Twitter and Elon Musk. American Express – Shares of American Express fell about 3.5% even after the bank reported quarterly earnings and revenue that beat analysts' expectations. Huntington Bancshares — Shares gained 8% after the bank operator topped earnings estimates for the third quarter and upped its net interest income outlook for 2022.

☆ Morning Bid: Tbond tension snaps sentiment
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +5 min

China's onshore yuan fell to another 14-year low despite major state-owned banks selling dollars on Friday. read more read moreThe economic backdrop darkened. read moreAfter Tesla's disappointment earlier in the week, the U.S. earnings season took another negative twist from the digital sector overnight. read moreIn banking, shares Credit Suisse slid again ahead of next week's big announcement on its restructuring plans. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Investing Club: The week in review, the week ahead — Oct. 14, 2022
▼ + stars: | 2022-10-14 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Club trades for the week Monday Bought 20 shares of Constellation Brands (STZ); Trust owns 390 shares of STZ. On Wednesday, the September producer price index was reported to have risen 0.4% monthly, double the expectation. On Thursday, the September consumer price index was also reported to have increased 0.4% monthly, above the expectation for a 0.3% increase. Excluding automobile sales, sales were up 0.1% slightly ahead of the expectations. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ October's wild trading could give way to a new stock rally, as earnings roll out in the week ahead
▼ + stars: | 2022-10-14 | by ( Patti Domm | In | ) www.cnbc.com time to read: +8 min

But Emanuel sees the chance for a 17% to 20% rally in the S & P 500. The S & P 500 was down about 0.9% for the week, as of Friday afternoon, and it was hovering just above 3,600. S & P 500 earnings are expected to grow by 3.6% for the third quarter, based on actual reports and estimates, according to Refinitiv. Without the boost from more than doubling profits from energy companies, S & P earnings would decline by 3.1%. Week ahead calendar Monday Earnings: Bank of America , Bank of NY Mellon, Charles Schwab 8:30 a.m.

☆ A powerful group of lobbyists and donors pushed Mitch McConnell to take a 'hard red line' that delayed a stimulus bill for months
▼ + stars: | 2020-12-16 | by ( Kimberly Leonard | Dave Levinthal | ) www.businessinsider.com time to read: +19 min

A powerful group of business organizations has pushed for the liability shields and donated generously to McConnell and other Republicans. Photo by Alex Wong/Getty ImagesThe Chamber of Commerce's big giveThe Chamber of Commerce has been among the most vocal proponents of liability protections. Overall, however, Walmart's workers and PAC gave about evenly to Democrats as to Republicans this election. Its PAC gave $9,000 to McConnell's campaign and gave $3,000 to Cornyn. During the past three decades, McConnell has received robust support from some of the industries lobbying hard for liability protections.

Search resuls for: "HCA Healthcare"

9 mentions found