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CBO Delays Health Care Bill Analysis, Stocks to Watch

CBO delays health care bill analysis 

Stocks to Avoid, Stocks to Buy on margin

The Congressional Budget Office had been scheduled to release an analysis Monday on the latest GOP bill, including estimated cost and scope of insurance coverage, but the Senate Budget Committee said the release had been postponed, according to Associated Press.

The committee did not indicate an explanation or when the analysis was expected, the report noted.

The CBO’s announcement comes after Senate Majority Leader Mitch McConnell said he was delaying a highly anticipated Senate vote this coming week on the bill, after Sen. John McCain’s disclosed that he had undergone surgery.  Doctors had advised McCain to recover in Arizona this week.

Publicly traded hospital operators include HCA Holdings (HCA), LifePoint (LPNT), Tenet Healthcare (THC), Community Health (CYH) and Quorum Health (QHC), and health insurance providers include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG).

 

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Box Office Report for July 14 Weekend

‘War for the Planet of the Apes’ tops ‘Spider-Man’  

'War for the Planet of the Apes' tops 'Spider-Man' . See Stockwinners.com Market Radar every Friday and Sunday for the Box Office Report

BOX OFFICE BATTLE:

Ahead of Sony’s (SNE) “Spider-Man,” 21st Century Fox’s (FOX) “War for the Planet of the Apes” led the North American box office, coming in on the low end of expectations with $56.5M from a little over four thousand locations.

OVERSEAS SALES

Overseas, the latest film in the rebooted franchise opened in less than a third of the marketplace, grossing $46M from 62 markets for global bow of $102.5M. “War for the Planet of the Apes” holds a critics rating of 95% on Rotten Tomatoes and received an A- in audience polls from #CinemaScore.

BOX OFFICE RUNNERS-UP:

Declining more than expected in its sophomore outing to $45.2M, Sony’s “Spider-Man: Homecoming” came in second place.

Behind it was Comcast’s (CMCSA) “Despicable Me 3” in its third weekend, with $18.9M for a domestic total of $188M. Sony’s “Baby Driver” followed at number 4 with $8.8M for a domestic total of $73.1M.

Rounding out the top five, “The Big Stick” ended the week with $7.6M from 2,597 cinemas. Amazon (AMZN) Studios acquired the critical hit out of #Sundance before partnering with Lionsgate (LGF.A) on the theatrical release.

Other publicly traded companies in filmmaking include Disney (DIS), Time Warner (TWX) and Viacom (VIAB; VIA).

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General Cable is For Sale

General Cable to review strategic alternatives, potential sale 

The Company reports preliminary Q2 revenues of approximately $923M

 

general cable is for sale. See Stockwinners.com Market Radar to read more.

General Cable (BGC) has announced that its Board of Directors has initiated a review of strategic alternatives to maximize shareholder value, including a potential sale of the company.

General Cable has engaged #JPMorgan Securities as financial advisor and Sullivan & Cromwell as legal advisor to assist in the process.

There can be no assurance that the Board’s strategic review will result in any transaction, or any assurance as to its outcome or timing. The company does not intend to disclose or comment on developments related to its review unless and until the Board has approved a specific transaction or otherwise determined that further disclosure is appropriate.

Separately, the company reported preliminary Q2 revenues of approximately $923M for North America, Europe and Latin America, one estimate $922.75M. Reported Q2 reported operating loss and adjusted operating income of approximately ($23M) and $32M, respectively.

The expected reported operating loss primarily reflects a one-time non-cash charge of approximately $36M related to the sale of General Cable’s investment in Algeria, consistent with the company’s previously announced divestiture program.

Additionally, as of June 30, General Cable maintained availability of approximately $360M under its $700M asset-based revolving credit facility.

General Cable Corporation (BGC) develops, designs, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products for the energy, industrial, construction, specialty, and communications markets in North America, Europe, Latin America, and Africa/the Asia Pacific.

Price Range:

BGC last traded at $16.55. It has a 52-week trading range of $11.70 – $20.80.

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