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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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FTX was ordered to pay $12.7 billion to customers. All customers will recoup their deposits that were locked when the crypto exchange went under in 2022, the Commodity Futures Trading Commission just said last Thursday.

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

Read: How one-hour patient home visits allowed insurers to collect $15 billion from Medicare between 2019 and 2021. (the Wall Street Journal)

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

What’s up

• Sweetgreen popped 33.33% after a strong earnings report coupled with forecasts of higher-than-expected sales in 2024.
• Doximity soared 38.70% thanks to a beat-and-raise quarter from the medical platform that has been investing in its own DoximityGPT AI model.
• Nikola rose 8.21% after a surprisingly strong quarter in which sales soared 318%.
• Unity Software jumped 8.22% despite revenue coming in lower year over year, but it was still higher than Wall Street expected.
• Take-Two Interactive Software surged 4.35% after it beat earnings estimates last quarter, but no word yet on how its Gearbox acquisition is helping its bottom line, nor when GTA 6 is going to be released.
• Expedia traveled 10.21% higher due to an earnings beat, with the company sidestepping a consumer spending slowdown quite nicely.

What’s down

• e.l.f. Beauty tanked 14.46% despite beating earnings estimates and guiding for a better fiscal year than expected, as investors worry about tough competition.
• Capri Holdings slid 4.86% as the company founded by Michael Kors faces slowing sales from cash-strapped consumers.
• Insulet sank 8.81% after beating earnings estimates, with shareholders concerned about the cost of unutilized insulin devices.
• Five9 plummeted 26.49% thanks to a weaker-than-expected forecast for the upcoming quarter and rest of the year.
• Array Technologies slumped 21.02% despite beating analyst estimates, as management reduced the company’s fiscal year guidance.
• New Fortress Energy fell 23.62% after the liquified natural gas company missed on both earnings and revenue last quarter.

CITE: https://tinyurl.com/tj8smmes

Here’s where the major benchmarks ended:

• The S&P 500^® index (SPX) rose 25 points (0.5%) to 5,344.16, ending the week little changed; the Dow Jones Industrial Average^® ($DJI) rose 51 points (0.1%) to 39,497.54 to end the week down about 0.6%; the NASDAQ Composite^® ($COMP) ended 85 points higher (0.5%) at 16,745.30, leaving it about 0.2% lower for the week.
• The 10-year Treasury note yield (TNX) dropped five basis points to 3.944%.
• The Cboe Volatility Index (VIX) declined three points (13%) to 20.7.

Google and Meta teamed up to target teens with ads for Instagram on YouTube, going against Google’s own rules, the Financial Times reported.

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