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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants

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Here’s where the major benchmarks ended:

• The S&P 500 index rose 14.53 points (0.3%) to 5,375.32; the Dow Jones Industrial Average^® ($DJI) declined 120.62 points (0.3%) to 38,747.42; the NASDAQ Composite gained 151.02 points (0.9%) to 17,343.55.
• The 10-year Treasury note yield (TNX) fell about 7 basis points to 4.398%.
• The CBOE Volatility Index^® (VIX) rose 0.13 to 12.87.

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

What’s up

• Apple shares rose 7.26%, hitting a new all-time high on hopes that the company’s AI innovations can make up for lost ground. Today’s surge reaffirmed its position as the second-largest publicly traded company in the US, retaking the #2 spot from Nvidia.
• Affirm popped 11.04% as Apple’s newest partner, with its buy-now-pay-later loans to be embedded in Apple Pay.
• FMC Corp rose 4% on the news that its president and CEO has stepped down. It can’t feel good when your company’s stock rises after you announce you’re leaving.
• Calavo Growers was up 8.24% after the avocado producer announced strong second quarter results thanks to high avocado prices. Those darn millennials eating their avocado toast strike again!

What’s down

• Paramount Global plummeted 7.85% after National Amusements and Skydance failed to reach a deal.
• Boeing dropped 2.44% after news broke that nobody ordered any new Boeing 737 Max planes last month.
• PayPal fell 3.46% as the stock continued to slide after Apple’s announcement yesterday that it was upgrading its Apple Pay and Apple Wallet features.
• CoreCivic sank 19.75% after the US government announced it will end its contract with the prison company when it closes a detention facility near the southern border of Texas. Shares of Target Hospitality, which maintains the facility, fell 31.48% as well on the news.
• FuelCell Energy fell 5.84%, reversing yesterday’s gains after the company announced lower-than-expected quarterly losses. Shares are now under $1, which means the stock could be delisted from the Nasdaq.

CITE: https://tinyurl.com/2h47urt5

The “A” in AI stands for Apple, the techies attending Apple’s annual Worldwide Developers Conference (WWDC) were told yesterday. CEO Tim Cook and Co. unveiled Apple Intelligence, a host of AI-powered features that will debut on iPhones, iPads, and Macs this fall.

CITE: https://tinyurl.com/tj8smmes

Addus HomeCare is making a major move to expand its business with plans to buy Gentiva’s personal care business for $350 million.

Healthcare payment software maker Waystar debuted on the public market Friday, raising $967.5 million, and marking the biggest health tech IPO since 2022. The company plans on paying off existing debt.

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