Ford in SOLID Shape and 4 Spotlight Stocks Rounding Out the Week
Pfizer Inc. (NYSE:PFE): According to their Chief Executive Officer Kevin Xiao, Pfizer Inc.’s partner, Hisun-Pfizer Pharmaceutical Co. (600267) in China, plans to hire 600 people by the end of the year. The company is seeking employees for manufacturing and research and development as well as commercial and support functions such as finance. Hisun-Pfizer aims to have about 1,000 employees in the world’s most populous nation by December and around 1,500 by the end of 2013.
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Sirius XM Radio Inc. (NASDAQ:SIRI): Options players are expecting Sirius XM Radio Inc. to muscle back atop the $2.50 level, which served as support from mid-August until earlier this week. During the course of Thursday’s session, the stock saw roughly 22,000 calls change hands, far surpassing their average daily volume of around 13,000 calls. Meanwhile, just over 2,400 SIRI puts were exchanged.
Ford Motor Company (NYSE:F): Ford and General Motors Companies are both in solid shape, especially in North America, said ratings agency DBRS as they upgraded both firms while a strike deadline looms in Canada. DBRS said that both companies could withstand a Canadian strike without suffering a “materially adverse” impact to their over-all viability. The ratings for both companies have been increased to investment grade as they and Chrysler negotiate with the Canadian Auto Workers who have set a Monday night strike deadline. The union issued a statement Friday complaining that the three auto companies remain “steadfast in their determination to force deep concessions” on their workers.
Tenet Healthcare Corporation (NYSE:THC): According to The Wall Street Journal, which cited unnamed sources, California Attorney General Kamala Harris is investigating whether hospitals in the state are violating antitrust laws by using their growing ties with doctors to increase prices. In a note to investors earlier today, Wells Fargo analyst Gary Lieberman wrote that he doesn’t believe the probe represents a significant threat to the companies he covers. Lieberman also noted that the hospitals named in the article were mostly large, non-profit systems. This investigation doesn’t appear to focus on doctors’ reimbursement rates, but seems targeted at hospitals that have recently begun to acquire a larger number of physician practices. DaVita (NYSE:DVA) faces little risk from this, since California-based Healthcare Partners, which they recently acquired, doesn’t own any hospitals. Lieberman maintained an Outperform rating on DaVita. He also maintained Outperform ratings on Community Health (NYSE:CYH), HCA Holdings (NYSE:HCA), and Tenet Healthcare (NYSE:THC), while a Market Perform rating they was maintained on Universal Healthcare Corporation.
American International Group, Inc. (NYSE:AIG): American International Group, Inc. announced the completion of an offering of approximately 636.9 million shares of AIG common stock, par value $2.50 per share by the U.S. Department of the Treasury who received proceeds of approximately $20.7 billion from the sale. The offering reduced Treasury’s remaining investment in AIG to approximately 234.2 million shares or approximately 15.9% of outstanding shares from about 53.4%. According to Treasury figures, Treasury and the Federal Reserve Bank of New York have received a combined positive return of approximately $15.1 billion from their overall $182.3 billion commitment to AIG. This profit does not include Treasury’s remaining stake in AIG, which if valued at the September 13 closing price of $34.44 per share, would provide an additional profit of approximately $8.1 billion. The shares of AIG Common Stock sold in the offering included approximately 153.8 million shares purchased by AIG for an aggregate purchase amount of approximately $5.0 billion.
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