3 Stocks to Watch on Thursday: Alere Inc (ALR), Fortress Biotech Inc (FBIO) and Sprint Corp (S)

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It was a down day for stocks, with the Dow Jones Transportation Average falling 1.2%. The S&P 500 Index tumbled 0.8%, the Dow Jones Industrial Average fell 0.6% and the Nasdaq Composite slipped 0.9%.

3 Stocks to Watch on Thursday: Alere Inc (ALR), Fortress Biotech Inc (FBIO) and Sprint Corp (S)Several companies had important news to share on Wednesday, including Alere Inc (NASDAQ:ALR), Fortress Biotech Inc (NASDAQ:FBIO) and Sprint Corp (NYSE:S).

Here’s what you should know:

Alere Inc (ALR)

Alere provided an update of its billing situation yesterday.

The company announced that it was looking to appeal the decision by the Centers for Medicare & Medicaid Services (CMS) to revoke Arriva Medical’s billing privileges with Medicare.

Arriva is a contract supplier that works under Alere. The company is looking to get its billing status with the CMS reinstated and it will wait 30 days before a decision is made.

The brand Arriva specifically focuses on providing diabetes testing supplies to those who benefit from Medicare. There are more than 500,000 patients who depend on Arriva’s services.

ALR stock fell 1.2% after the bell Wednesday.

Fortress Biotech Inc (FBIO)

Fortress Biotech shares were booming after the company shared positive news regarding one of its latest treatments.

The company announced that a 50-year-old man suffering from a deadly and recurrent type of brain cancer responded well to the CAR-T immunotherapy developed by the company.

The drug was developed from the man’s modified T cells in an early clinical trial and he has managed to reach complete remission after failing to react positively to other treatments.

He has “returned to normal life and work activities.” The trial suggests that the Fortress Biotech treatment has the potential to do a lot of good for patients with brain cancer.

The results will be published in the Dec. 29 edition of the New England Journal of Medicine.

FBIO stock skyrocketed 47.2% Wednesday.

Sprint Corp (S)

President-elect Donald Trump claims that Sprint will bring back 5,000 jobs.

The phone carrier could be one of the day’s big movers as the man who will take over the White House in January said these positions will be brought back to the U.S.

He said he was called by the head people of Sprint following a deal done through the Japanese company SoftBank Group Corp (OTCMKTS:SFTBF).

Trump and SoftBank CEO Masayoshi Son said the two would create 50,000 jobs in the U.S. as the company will invest $50 billion in workers in the states.

The company owns about 80% of Sprint, and the leaders of Sprint confirmed that they will be adding 5,000 jobs in the U.S. The carrier invested $1 billion in OneWeb, which will add 3,000 jobs.

S shares were trading flat after the bell.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/12/3-stocks-to-watch-on-thursday-alere-inc-alr-fortress-biotech-inc-fbio-and-sprint-corp-s/.

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