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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 CBOE Volatility Index^® (VIX) climbed slightly to 12.37.

The S&P 500 index^®(SPX) rose 5.66points (0.1%) to 5,572.85; the Dow Jones Industrial Average^® ($DJI) dropped 31.08 points (0.1%) to 39,344.79; the NASDAQ Composite^® ($COMP) gained 50.98 points (0.3%) to 18,403.74.

The 10-year Treasury note yield (TNX) was roughly flat at 4.27%.

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

What’s up

• Intel popped 6.15% after an analyst at Melius Research declared the company could be one of the big AI winners in the second half of this year.
• Morphic Holding skyrocketed 75.06% on the news that Eli Lilly will acquire the drugmaker for $3.2 billion in cash.
• SolarEdge climbed 9.26% thanks to an upgrade from “underperform” to “neutral” by Bank of America analysts, who see big upside and few downside risks ahead.
• Corning rose 11.98% after management raised earnings guidance for the coming quarter thanks to higher demand due to the AI boom.
• Lucid rose 7.85% on the news that its deliveries rose 70% in the second quarter.

What’s down

• ServiceNow dipped 5.04% after Guggenheim analysts downgraded the cloud computing company to “sell,” citing growing risks in the second half of this year.
• Greenbrier Companies sank 9.10% after the rail transportation company missed Wall Street’s earnings expectations.
• Devon Energy fell 1.11% on the news that it is acquiring portions of Grayson Mill Energy for $5 billion in cash and stock.

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

Stat: 27. That’s a tally of some of the hospital mergers, acquisitions, joint ventures, affiliations, and partnerships that have been canceled since January 2022. (Becker’s Hospital Review)

Read: Health insurers received $50 billion from Medicare for diseases that doctors did not treat over three years, according to a recent analysis. (Wall Street Journal)

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