Market Recap: Hospitals Hop

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[youtube=http://www.youtube.com/watch?v=PzysbFcCYS8]

The Reformed Broker, AKA Dr. Feelgood, here with today’s Market Recap…

Goldman upgraded one of the worst hospital stocks extant, Tenet Health, this morning:

Goldman said it is upgrading THC to Buy from Neutral based on more favorable view of urban hospitals. Notes potential for continued margin improvement and benefit of normalizing credit markets. Price target raised to $5 from $1.

This was enough to get the whole group hopping, here’s the 3:30 look at the hospitals:

Industry Top Performers
Intraday Price Performance % Change Market Cap
TENET HLTHCRE CP [THC] +23.56% $1.1 B
HLTH MGMT ASSOC A [HMA] +8.97% $1.2 B
Dynacq Healthcare, Inc. [DYII] +7.69% $50.5 M
COMMUNITY HEALTH [CYH] +4.74% $2.2 B
UNIVERSAL HLTH SVC B [UHS] +4.19% $2.5 B

After a lot of back and forth, the broader averages basically did nothing, but metals and miners were also extremely strong.

Thanks for reading today, and enjoy the original “hospital hop” in the above scene from Breakin’ 2: Electric Boogaloo.  I know, I’m cringing from it, too!

Full Disclosure: No positions mentioned.  Don’t trade based on my commentary here.

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