Why Energy Transfer, Hertz, McKesson, and Two Other Stocks Are Trending Today

McKesson Considers IT Merger

McKesson Corporation (NYSE:MCK) management is considering merging its IT unit with Change Healthcare Inc. The combination of the two would create one of the largest companies in healthcare IT, and would be potentially worth an enterprise value of at least $10 billion. A separation of its IT unit would continue McKesson management’s strategy of shedding non-core assets to increase shareholder value. Shares of McKesson are down by 8% year-to-date and could use a positive catalyst. The number of funds tracked by us with holdings in McKesson Corporation (NYSE:MCK) rose by three quarter-over-quarter to 66 at the end of March.

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Oi S.A. Seeks Bankruptcy Protection

Oi S.A. (ADR) (NYSE:OIBR) is in the spotlight today after the Brazilian telecom company filed for bankruptcy protection. The company has billions in debt and failed to reach a compromise with its creditors on restructuring that burden. Oi’s bankruptcy filing is the largest in Brazil’s history and showcases just how difficult Brazil’s recession has been. Six funds from our database  were long Oi S.A. (ADR) (NYSE:OIBR) at the end of the first quarter.

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