Morning Buzz: Apple (AAPL), Groupon (GRPN), ADT Corporation (ADT), Community Health Systems (CYH)

Apple Inc. (AAPL) — The company’s Apple Pay service will be live in China from Feb. 18 for Industrial and Commercial Bank of China Ltd (ICBC) customers. China Guangfa Bank and China Construction Bank Corp said on social media they would also launch Apple Pay on Feb. 18.

China becomes the fifth country in which Apple’s mobile payments service is operating.

Shares of Groupon, Inc. (GRPN) are higher by 17.30% to $3.39 in pre-market trading on Tuesday following news Chinese e-commerce giant Alibaba Group (BABA) has purchased a 5.6% stake of the U.S. company, making it Groupon’s fourth largest shareholder.

Shares of ADT Corporation (ADT) are up more than 52% this morning after the home security company announced it agreed to be bought by private-equity firm Apollo Global for $42 per share. That’s a 56%  increase from Friday’s closing PPS of $26.87.

The deal that values ADT at $6.94 billion.

Community Health Systems, Inc. (CYH) plunged 24% to $14.20 in early trading Tuesday after the U.S.’s second-largest chain of for-profit hospitals reported an unexpected fourth-quarter loss. Excluding certain items, loss from continuing operations was $0.28 a share (diluted) in the quarter. Net operating revenues fell 2.4% to $4.8 billion, a 2.4% decrease compared with $4.92 billion for the same period in 2014.

For full fiscal-year 2016, CYH provided EPS guidance of $3.40-$3.80 versus consensus of $3.92 per share. The company also issued revenue projection of $20 billion – $20.6 billion, compared to the consensus revenue estimate of $20.99 billion. Following Q4 results, CYH was downgraded to ‘Neutral’ from ‘Buy’ at Mizuho. PT lowered to $14.40 from $25.00.

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.