2:40 PM New York – Centene agreed to acquire nonprofit health insurer Fidelis Care for $3.75 billion. Mirati Therapeutics stock surged on positive cancer treatment trial results. Oracle profit and revenues jumped. Sparton beats earnings results. Tenet Healthcare is looking for a merger partner.
Tollbooth Index increased 27.78 or 0.2% to 12,417.15.
) gained 1.1% or $1.09 to $97.01 after the healthcare services provider agreed to acquire nonprofit health insurer Fidelis Care for about $3.75 billion.
Centene estimated to generate 2018 pro-forma total revenues of about $60 billion assuming a January 1, 2018.
Fidelis Care diversified in government programs, serving 1.6 million members as of June 30 with total revenue in the first half of the year of about $4.8 billion.
Mirati Therapeutics, Inc
) surged 107.4% or $5.05 to $9.81 after the clinical-stage biopharmaceutical products maker presented positive preliminary data from sitravatinib studies from two trials of its lung cancer treatment.
Mirati said ongoing phase 2 trial of sitravatinib in combination with nivolumab in non-small cell lung cancer patients demonstrated confirmed some partial responses.
) declined 6.1% or $3.22 to $49.64 after the cloud and enterprise software provider reported total revenues in the first-quarter ending in August soared 7% from a year ago to $9.2 million.
Net income in the quarter surged 21% to $2.2 billion or 52 cents per diluted share from $1.8 billion or 43 cents in the same quarter last year.
Cloud plus On-Premise software revenues jumped 9% to $7.4 billion and cloud software as a service revenues were surged 62% to $1.1 billion.
) rose 2 cents to $23.12 after the electromechanical devices maker stated revenues in the fourth-quarter ending on July 2 jumped 9.4% from a year ago to $104.4 million.
Net in the quarter swung to profit $1.7 million or 17 cents per diluted share from a loss of $42.1 million or $4.30 in the same quarter last year.
Tsakos Energy Navigation Ltd
) slumped 2.2% or 10 cents to $4.46 after the Greece-focused maritime petroleum transportation services provider said revenues in the second-quarter ending in June soared 10.3% from a year ago to $132.2 million.
Net income in the quarter plunged 78% to $3.6 million or 3 cents per diluted share from $16.4 million or 15 cents in the same quarter last year.
Tenet Healthcare Corp
) dropped 2% or 35 cents to $16.80 after the healthcare services provider is exploring strategic alternatives, including potential sale of itself.
Earlier Tenet was targeted by its major investor Glenview Capital Management with 17.8% stake in the hospitals operator in enhancing shareholder value.