Hospital shares rise as Tenet, HMA results ease concerns
Hospital stocks are on the rise after Tenet Healthcare and Health Management Associates both raised their 2009 outlook. Tenet and HMA shares have risen 6.4% and 7%, respectively. Tenet Healthcare experienced a 4.5% increase in revenues in 2009's second quarter, compared to the same period in 2008. President and CEO Trevor Fetter attributes the positive results to strong growth in outpatient volumes and solid pricing gains. Still, the company is projecting a $15 million loss for the quarter. HMA says it earned $32.6 million in the second quarter.
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