Tuesday’s Headlines: Teladoc Jumps Following $600 Million Purchase
1. Teladoc’s stock price rose almost 13% on Monday after the company agreed to buy rival InTouch Health for $600 million in cash and stock. InTouch is a telehealth platform for hospitals and health systems that works with well-known names like HCA Healthcare Inc., the Mayo Clinic and Kaiser Permanente, with 3,600 care locations and nearly 15,000 doctors using its platform. The deal will expand New York-based Teladoc’s reach into more specialized virtual discussions between users and doctors in the health system. Read the full story here.
2. Electric car maker Tesla blew past the $500 mark for the first time ever yesterday after rising almost 10% and closing at $524.86. The jump comes after analysts set a price target of $612, and claimed that the company can reach ‘critical scale’ to support positive cash flow going forward even with its growth ambitions. The stock has been on a very strong rally over the last few months and it has consistently pushed to new highs over the last month. Get the full story here.
3. Streaming giant Netflix saw its shares jump 3% on Monday after nabbing 24 nominations for the Oscars, more than any other studio. The nominations include two candidates — ‘The Irishman’ and ‘Marriage Story’ — for the coveted ‘Best Picture’ prize, with Netflix hoping to make up for a disappointing night at the Golden Globes awards. The California-based company is up 3.4% year-to-date and will hope to kick on in 2020 as competition ramps up. Read here for the complete story.