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® (SPX) index rose 4.44 points (0.1%) to 5,463.54; the Dow Jones Industrial Average® ($DJI) slipped 49.41 points (–0.1%) to 40,539.93; the NASDAQ Composite®($COMP) gained 12.32 points (0.1%) to close at 17,370.20.
- The 10-year Treasury note yield (TNX) fell roughly five basis points to just under 4.18%.
- The CBOE Volatility Index® (VIX) finished nearly steady but still elevated at 16.59.
CITE: https://tinyurl.com/2h47urt5
What’s up
- Tesla drove 5.60% higher after Morgan Stanley analysts named the company a top pick thanks to its strong cash flow after implementing cost-cutting measures.
- ON Semiconductor popped 11.54% after beating analyst estimates on both the top and bottom lines last quarter.
- Revvity soared 9.14% after the medical device maker crushed analyst expectations.
- Philips rose 6.04% on strong earnings despite a dip in Chinese sales.
What’s down
- Abbott Laboratories sank 0.45% after it was ordered to pay $495 million in damages for failing to warn of the risks to premature infants drinking its formula, a far higher number than analysts expected. Shares of its peer Reckitt Benckiser fell 8.65% in sympathy.
- Arm Holdings slipped 5.07% after an HSBC analyst downgraded the company due to its sky-high valuation.
- Heineken fell 8.18% thanks to slower beer sales in key markets, as well as the poor performance of its investment in Chinese brewer CR Beer.
- Loews slid 1.47% due to an announcement that CEO James Tisch will step down after 25 years at the helm.
- 3M dropped 1.56%, falling back to Earth after the stock enjoyed its best day of trading ever last Friday.
CITE: https://tinyurl.com/tj8smmes
Visualize: How private equity tangled banks in a web of debt, from the Financial Times.
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