JPMorgan Chase to Cut Thousands of Jobs; Tenet Healthcare Shares Slide after Net Loss in Fourth Quarter

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JPMorgan Chase to Cut Thousands of Jobs; Tenet Healthcare Shares Slide after Net Loss in Fourth Quarter

Tenet Healthcare Corp. (NYSE: THC) – For an in-depth report on Tenet Healthcare Corp. follow:

Shares of Tenet Healthcare Corp. shares closed down 9.10% on Tuesday making it one of the biggest decliners on the NYSE. The stock traded a little over 10 million shares. The loss came after the company reported a net loss in the fourth quarter chiefly due to financing its acquisition of Vanguard Health Systems, a smaller chain of hospitals. The company purchased Vanguard last fall for $1.8 billion. The company reported income from continuing operations of $43 million, or 43 cents a share, excluding items, down from $65 million, or 60 cents a share, in the same period one year earlier. Analysts expected a profit of 34 cents a share, according to Thomson Reuters I/B/E/S. The company reported a net loss of $24 million, or 24 cents a share, down year over year from a net income of $49 million, or 45 cents a share. Net operating revenue increased 67% to $3.89 billion. Adjusted EBITDA, excluding items, increased 32.1% year over year to $444 million from $336 million.

Micron Technology Inc. (NASDAQ: MU) - For an in-depth report on Micron Technology Inc. follow:

Shares of Micron Technology closed down 2% on about 37 million shares traded. The stock has gained over 200% during the last twelve months and year-to-date, the gain for the stock has been more than 15%. The company is a leading provider of advanced semiconductor system solutions. Main business products include DRAM, NAND flash and NOR flash memory along with other semiconductor solutions.

TriQuint Semiconductor, Inc. (NASDAQ: TQNT) – For an in-depth report on TriQuint Semiconductor, Inc. follow:

TriQuint Semiconductor closed down a modest 1.20% on Tuesday with about 15.6 million shares traded. The stock retraced from gains it saw earlier in the week when it was revealed that Radio frequency chipmaker RF Micro Devices said it will buy peer TriQuint Semiconductor (TQNT) for about $1.6 bil in an all-stock deal. TriQuint shot up 26% after the news. The deal is expected to close in the 2nd half of '14, and would create a more competitive mobile market chipmaker. TriQuint shareholders would receive 1.675 shares of the new company for 1 TriQuint share. RF Micro investors would get 1 share per share. The company would start with about $2 bil in annual sales.

JPMorgan Chase & Co. (NYSE: JPM) - For an in-depth report on JPMorgan Chase & Co. follow:

Shares of JPM closed down a modest 1.72% on Tuesday with nearly 18 million shares traded. The largest U.S. bank, announced thousands of job cuts due to the mortgage lending business slowing, and said it was lowering its profitability target. The newly announced job cuts in mortgage banking raise the total number of mortgage cuts the company originally called for by year-end 2014 to 17,000. The company said it expected total headcount to fall by 5,000 to 260,000 in 2014.


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