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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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What’s up

• Lumentum Holdings soared 14.74% after the laser maker beat estimates for quarterly revenue and earnings.
• Ulta Beauty skyrocketed 11.17% on the news that Warren Buffett invested in the company last quarter. Sirius XM rose 3.78% for the same reason.
• Dell Technologies jumped 7.16% after JP Morgan analysts raised their price target on the stock from $155 to $160.
• Robinhood popped 4.83% thanks to an upgrade from Deutsche Bank analysts from Hold to Buy.
• Deere & Co. rose 6.35% due to a stronger-than-expected earnings report.
• Tesla accelerated 6.34% on hopes that a healthier US consumer means better auto sales ahead.

What’s down

• T-Mobile US fell 0.95% after the Committee on Foreign Investment in the US fined the company after sensitive customer data was exposed.
• Dillard’s slid 10.85% after reporting lower earnings and sales than expected as the retailer struggles to lure customers through its doors.
• AT&T stumbled 2.78% on the news that a major shareholder sold off a large portion of its stake in the company last quarter.
• Pilgrim’s Pride dropped 3.28% thanks to a re-rating from Bank of America analysts pushing the company from Buy to Neutral.
• Grab Holdings sank 7.42% after the app maker reported a terrible quarter.

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Here’s where the major benchmarks ended:

• The S&P 500 index rose 88.02 points (1.61%) to 5,543.23; the Dow Jones Industrial Average^® ($DJI) added 554.67 points (1.39%) to 40,563.06; the NASDAQ Composite advanced 401.89 points (2.34%) to 17,594.50. 
• The 10-year Treasury note yield (TNX) rebounded about 10 basis points to nearly 3.93%, lifted by strong U.S. data. 
• The CBOE Volatility Index^® (VIX) finished at 15.45, the lowest since July 23 and back under the historic average near 19.

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Cisco will lay off 7% of its workforce to cut costs, although it projects an improvement in sales.

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