No need for a hearing check. Iasis Healthcare CEO David White said on today's first-quarter earnings call: "You didn't hear health reform, you heard health deform, because I think that better describes what's taking place." Asked by analyst Sheryl Skolnick (who's back at CRT Capital Group) about the company's outlook for health reform, White said he thinks it will continue to be a "disjointed, herky jerky process." He's concerned hospitals will still be asked to take the $155 billion in cuts they agreed to in a deal with Washington but they won't get the quid pro quo promised by politicians. Also a concern: That a permanent fix to the physician payment problem will be left out of any legislation. "That's a very long-term and near-term issue for hospitals — having its doctors be able to continue to take Medicare patients," White said.
Feb 11, 2010 11:31 AM
JPMorgan analyst Kevin Milota has raised his rating on shares Gaylord Entertainment to 'overweight' following the Nashville company's Q4 report yesterday. Milota, who cited an improving economy as the main reason, also lifted his price target to $24 from $20. David Katz at Oppenheimer, who already rated Gaylord at 'outperform,' sees even more upside for Gaylord shares. He has pushed his target to $28 from $26. Gaylord (Ticker: GET) has risen 8 percent in the past six months.
Feb 10, 2010 8:26 AM
Nissan posted a fiscal-third-quarter operating profit of $1.5 billion as various stimulus plans helped get the auto sector back on the right track. The result easily topped analysts' expectations and lifted full-year profits into positive territory. The auto maker's New York-listed shares (Ticker: NSANY) are up about 7 percent.
Feb 9, 2010 12:12 PM
In reporting its fourth-quarter results, CBL & Associates — which owns the CoolSprings Galleria, RiverGate Mall and Hickory Hollow Mall — says the last of those three will generate a lot less cash going forward, which requires an adjustment of its book value. The 1.1 million-square-foot center's new "appropriate" value for Chattanooga-based CBL: $12.6 million, down from more than $107 million. The small piece of good news:
Currently Hickory Hollow Mall generates insufficient NOI to cover debt service on its $33.4 million recourse loan. CBL plans to continue to service the loan, which is self-liquidating, over the remaining eight year term.SEE ALSO: Shopping shuffle from one our recent print editions
Feb 4, 2010 8:03 AM
Regional bank Cadence Financial (Ticker: CADE) is still struggling to get its arms around the soured construction and development it issued in the Nashville area. Some numbers from the company's Q4 release Thursday: • During the fourth quarter, it cut its property loan exposure here by $33 million. • Of the $19.5 million increase in other real estate owned during the quarter, $17 million is due to just four Middle Tennessee borrowers. • Since the end of 2008, the bank has trimmed its total Nashville-area loan portfolio by more than $80 million to $131 million. An interesting sidenote: Cadence Chairman and CEO Lewis Mallory said Memphis, which got into trouble earlier, again showed clearly better credit-quality metrics. That reinforces what Moody's Economy.com said the other day. SEE ALSO: Past posts on Cadence's local growth and trouble
Jan 29, 2010 9:07 AM
Synovus Financial Corp. will this spring merge the charters of its 30 subsidiary banks into one, simplifying risk management and its dealings with regulators (and likely saving a bundle along the way). Local banks like The Bank of Nashville will keep their names and go about their business mostly as before. The company (Ticker: SNV) unveiled the plan alongside a $264 million fourth-quarter loss, although management said it is crossing its fingers for profitability in 2010.
Jan 29, 2010 8:20 AM
Following its strong Q4 numbers, Tractor Supply has been raised to a 'strong buy' by Brent Rystrom at Feltl & Co. Rystrom, who launched his coverage of Tractor Supply (Ticker: TSCO) last fall, has also raised his price target on the stock to $64. Goldman Sachs says SunTrust is its best investing idea for 2010 in the regional bank space, which the firm says is getting healthier as it digests credit problems. After rising nicely in pre-market trading, SunTrust shares (Ticker: STI) have been pulled back to even by a broad market selloff.
Jan 28, 2010 10:31 AM
POSTDATA: WARRANTY DEEDS