Monday headlines include: two hospitals planning to use Apple's HealthKit for studies, NASDAQ still being haunted by Facebook's IPO, Wells Fargo finding misconceptions among potential borrowers, Radio Shack naming an interim CFO and Cognizant planning to acquire TriZetto to boost its health care operation.
Two major U.S. research hospitals are prepping studies of patients with diabetes and other chronic illnesses using the HealthKit package of software from Apple (AAPL). While still under development, the HealthKit combines data from regulated medical devices, like glucose meters, with iPhone apps that collect a variety of health data and make it available to doctors all in one place. Stanford University Hospital is preparing a study that will let doctors track the blood-sugar levels in diabetic children. Duke University, meanwhile, is working on a study that will track blood pressure, weight and other factors for patients with heart disease, cancer or other chronic illnesses.
The failed launch of trading in shares of Facebook (FB) is reportedly still haunting NASDAQ (NDAQ). Alibaba Group, which is set to go public later this week, reportedly decided to list on the New York Stock Exchange, which is now owned by InterContinental Exchange (ICE), in part due to concerns about NASDAQ's ability to handle what looks likes it is going to be a $21 billion offering.
The largest mortgage lender in the United States, Wells Fargo (WFC), released a survey Monday morning that shows many potential borrowers may be discouraged from buying a home due to incorrect assumptions about the requirements for obtaining a mortgage. Misconceptions found by the study include: believing a very high credit score is needed to obtain a mortgage and thinking a 20% down payment is required.
Electronics retailer RadioShack (RSH) announced Monday that Holly Etlin will serve as interim CFO. Etlin steps into the position after John Feray resigned on Sept. 12 for personal reasons. Etlin, who is a managing director at Aliz Partners, served as interim CFO at the company between July 2013 and February 2014.
Cognizant Technology Solutions
Outsourcing firm cognizant Technology Solutions (CTSH) will pay $2.7 billion in cash to acquire TriZetto Corp., a health-care IT company. The combined company is expected to have more than $3 billion in revenue from health care operations by providing services to plans that cover more than 180 million Americans.