Tenet Healthcare Best Performing S&P 500 Stock

Tenet Healthcare Corporation THC is the best performing stock in the S&P 500 today, gaining more than 56% after the company received a takeover bid from Community Health Systems CYH for $6 per share. Shares are sharply higher than where the offer is, and speculation is that CYH may have to raise its bid. CRT Capital Group analyst Sheryl Skolnick certainly believes so. "I think it is highly likely that there will be additional interest in this company, and if the company is sold it won't be for $6 a share in cash and stock to Community," Skolnick said. Community Health Systems Inc. Chairman Wayne Smith said the company is “absolutely committed” to its bid. “We're hopeful that rational people will prevail here in terms of the thought process,” Smith said in a conference call with analysts this morning. “We think it is fully priced at $6 a share. If you look at what we've (been) paying for hospitals over the last couple of years, it's been a lot less than this.” Tenet had previously rejected the bid last month. “We're hopeful that rational people will prevail here in terms of the thought process,” Smith said in a conference call this morning. “We think it is fully priced at $6 a share. If you look at what we've (been) paying for hospitals over the last couple of years, it's been a lot less than this.”