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Health Services Providers Medco, Tenet Post Earnings
By Market News Video Staff, Tuesday, November 2, 10:48 AM ET
Prescription services provider Medco Health Solutions (MHS) posted earnings today that fell short of analyst expectations, with an outlook that was about in-line with estimates. Shares are trading up 6.4%.
Also today, healthcare services provider Tenet Healthcare (NYSE:THC) said it swung to a profit, although its adjusted loss of $0.01 per share fell short of analyst expectations.
The company hiked the low end of its full-year profit forecast. Tenet Healthcare shares are trading down 4%.
Medco is the #2 holding in the Dynamic Healthcare Services Portfolio (PTJ), at 5.2% of the total holdings, and the ETF includes 2.6% Tenet stock as well. That ETF is trading up 1.5%.
The Dynamic Healthcare Sector Portfolio (AMEX:PTH) also contains both stocks, made up of 5.6% Medco and 1.3% Tenet. It is trading higher by 1.4% Tuesday.
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