Park Plaza Hospital in Texas, owned by Tenet Healthcare. (Pat Sullivan / AP)

Investors hammered the stock of Tenet Healthcare on Tuesday after the hospital chain missed revenue and profitability expectations.

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Data: Money.net; Chart: Lazaro Gamio / Axios

Tenet, which reported a $192 million loss on $19.6 billion of revenue in 2016, cut ties with Humana last fall after the two sides couldn't agree on a new reimbursement contract. That means patients with Humana health insurance, most of whom are on Medicare, currently can't go to Tenet facilities at the lower in-network rates. It's a big reason why Tenet recorded fewer patient hospitalizations and surgeries.

Key quote: But Tenet doesn't mind playing chicken with health insurance companies. Tenet CEO Trevor Fetter made it clear on a conference call Tuesday that the company will only own hospitals and surgery centers if those facilities have a dominant position in the local market. Why? To extract better prices: "We have not changed our strategy, which is either we're all-in or we're all-out...that makes for a high-stakes negotiation on both sides, which has worked to our advantage."

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Trump tightens screws on ByteDance to sell Tiktok

Illustration: Aïda Amer/Axios

President Trump added more pressure Friday night on China-based TikTok parent ByteDance to exit the U.S., ordering it to divest all assets related to the U.S. operation of TikTok within 90 days.

Between the lines: The order means ByteDance must be wholly disentangled from TikTok in the U.S. by November. Trump had previously ordered TikTok banned if ByteDance hadn't struck a deal within 45 days. The new order likely means ByteDance has just another 45 days after that to fully close the deal, one White House source told Axios.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 21,056,850 — Total deaths: 762,293— Total recoveries: 13,100,902Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m ET: 5,306,215 — Total deaths: 168,334 — Total recoveries: 1,796,309 — Total tests: 65,676,624Map.
  3. Health: CDC: Survivors of COVID-19 have up to three months of immunity Fauci believes normalcy will return by "the end of 2021" with vaccine — The pandemic's toll on mental health — FDA releases first-ever list of medical supplies in shortage.
  4. States: California passes 600,000 confirmed coronavirus cases.
  5. Cities: Coronavirus pandemic dims NYC's annual 9/11 Tribute in Light.
  6. Business: How small businesses got stiffed — Unemployment starts moving in the right direction.
  7. Politics: Biden signals fall strategy with new ads.

Harris: "Women are going to be a priority" in Biden administration

Sen. Kamala Harris at an event in Wilmington, Del. Photo: Drew Angerer/Getty Images

In her first sit-down interview since being named Joe Biden's running mate, Sen. Kamala Harris talked about what she'll do to fight for women if elected VP, and how the Democrats are thinking about voter turnout strategies ahead of November.

What they're saying: "In a Biden-Harris administration women are going to be a priority, understanding that women have many priorities and all of them must be acknowledged," Harris told The 19th*'s Errin Haines-Whack.