DAILY UPDATE: Business News Briefs Plus TESLA and the Markets

Posted on April 25, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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1. Regional banks’ plight was Morgan Stanley’s perk. The bank saw nearly $20 billion in new client assets in the wake of the banking crisis that rocked smaller banks like First Republic. Why the bank became a “destination of choice” amid the crisis.

2. Taylor Swift was the only one asking the right question on FTX. The mega star didn’t sign a $100 million sponsorship deal with the crypto exchange because, unlike seemingly everyone in Silicon Valley, she did some form of due diligence.

3. The new-age pension plan. Fidelity and State Street are rolling out annuity options within their 401(k) products, The Wall Street Journal reports. But it comes with a hefty price tag, and not everyone is sold on it.

4. It’s starting to get scary in the housing market. Foreclosure filings were up 22% in Q1 compared to last year, and repossessions are headed in the wrong direction as well.

Finally, Fintel reports that on April 21, 2023, Goldman Sachs maintained coverage of Tesla (NASDAQ:TSLA) with a Buy recommendation. As of April 6th, 2023, the average one-year price target for Tesla is $203.14. The forecasts range from a low of $24.58 to a high of $315.00. The average price target represents an increase of 24.63% from its latest reported closing price of $162.99. The projected annual revenue for Tesla is $118,517MM, an increase of 37.75%. The projected annual non-GAAP EPS is $5.70.

CITE: https://www.r2library.com/Resource

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  • The S&P 500® Index was up 3.52 points (0.1%) at 4137.04; the Dow Jones industrial average was up 66.44 (0.2%) at 33,875.40; the NASDAQ Composite was down 35.25 (0.3%) at 12,037.20.
  • The 10-year Treasury yield was down about 7 basis points at 3.50%.
  • CBOEs Volatility Index was up 0.12 at 16.89.

Real estate and financials were among Monday’s weakest-performing sectors, while energy companies led gainers thanks to a jump of about 1% in crude oil futures. The U.S. dollar index fell to about 101.37, its weakest level since mid-April, while Treasury yields eased slightly.

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CITE: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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Post MVA: GO FUND ME for Kirby “Sasha” Fenton

Posted on April 25, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

Post M.V.A.

Dr. Charles F. Fenton

My son, Kirby “Sasha” Fenton sustained a devastating medical injury in a motor vehicle accident on January 16, 2018 in Marietta, GA.

As of this writing, he had surgery last night and has additional surgery planned for this morning (due to blood loss during the first surgery). Additional surgeries are expected. He will be in Wellstar Kennestone Hospital for at least a week and then will be transferred to a rehabilitation facility for an extended period of time.

He is NOT expected to make a full recovery. He will have permanent, significant disability.

Sasha needs funds for (1) medical expenses, (2) legal expenses connected to the accident, (3) rehabilitation expenses, and (4) most especially expenses relating to his transitioning to his life as a disabled person – this is really where he needs the bulk of funds.

Marietta Daily Journal Article: http://www.mdjonline.com/news/police-marietta-teen-thrown-from-motorcycle-after-passing-cars/article_c6a53874-fb02-11e7-a34c-8325493600cf.html

Sasha will appreciate your generosity.

Thank You

https://www.gofundme.com/kirby-sasha-fenton-rehab-fund

EDITOR’S DISCLOSURE: Dr. Fenton is a friend, colleague and frequent contributor to this ME-P, as well as our textbooks and related white-papers.

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MEDICARE / MEDICAID: Physician Acceptance Down

Posted on April 25, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Physicians Who Accept Medicare, Medicaid at All-time Low of 65%

Reduced Medicare and Medicaid payments are having more physicians considering reducing those patient bases, according to Medscape’s “Physician Compensation Report” for 2023. Sixty-five percent of physicians surveyed said they would continue treating current Medicare or Medicaid patients and take on new ones, according to the report. Medscape said it is the lowest percentage it has seen in its annual compensation reports. Five years ago, 71 percent of physicians said they would continue treating current Medicare or Medicaid patients and take on new ones. 

CITE: https://www.r2library.com/Resource

For the report, Medscape collected responses from 10,011 physicians across more than 29 specialties. The data was collected between Oct. 7, 2022, and Jan. 17, 2023. Eight percent of physicians surveyed said they would not take on new Medicare patients, and 5 percent said they would not take new Medicaid patients. Four percent said they will stop treating some or all of their current Medicare patients and will not take on new ones, and 3 percent said the same about Medicaid patients. Twenty-two percent said they have not yet decided how they will move forward regarding Medicare and Medicaid patients, according to the report. 

Source: Andrew Cass, Becker’s Payer Issues [4/18/23]

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