Tenet Healthcare Shares Slide On Earnings, Outlook Miss

Tenet Healthcare Corp. shares declined in the extended session Monday after the hospital operator's earnings and outlook fell well below Wall Street estimates. Tenet shares fell 5.7% to $27.25 after hours. The company reported adjusted second-quarter earnings of 38 cents a share on net operating revenue of $4.87 billion. Analysts surveyed by FactSet had estimated earnings of 52 cents a share on revenue of $4.82 billion. Tenet forecast adjusted third-quarter earnings of 10 cents to 25 cents a share, while analysts had estimated 43 cents a share.