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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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Stat: 2.4%. That’s the percentage of US emergency department visits that involved patients positive with Covid during the week ending August 16th, down from the prior week (but still high). (Becker’s Clinical Leadership)

Quote: “The pandemic was destructive and concerning and clearly demonstrated that Medicaid is so crucially important for our national safety net.”—Jennifer Babcock, SVP for Medicaid policy at the Association for Community Affiliated Plans, on state efforts to expand Medicaid (KFF Health News)

Read: Here are the healthcare-related topics to keep tabs on during the Democratic National Convention. (Stat)

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

What’s up

• Target popped 11.25% thanks to an impressive earnings report that included a 36% increase in earnings.
• Toll Brothers rose 5.59% after beating earnings estimates and raising its projections for home deliveries this year.
• TJX Companies gained 6.06% and hit a new record high thanks to a strong beat-and-raise earnings report.
• Ford climbed 1.54% after overhauling its EV plans, including canceling production of a new EV SUV and delaying a new EV plant.
• Keysight Technologies soared 13.91% after beating earnings expectations and projecting an even stronger second half of the year ahead.
• BigBear.ai skyrocketed 27.07% thanks to a new contract with the Federal Aviation Administration to provide IT and tech solutions.

What’s down

• Macy’s plummeted 12.91% thanks to management’s warning that the company’s full-year sales will come in lower than expected.
• JD.com slumped 4.15% after Walmart announced it’s selling its entire 10.35% holding in the Chinese e-commerce giant.
• Nordstrom sank 3.12% a day after Citi analysts warned that the company may miss estimates when it announces earnings next week.
• American Express dipped 2.64% after it was downgraded by Bank of America analysts from Buy to Neutral due to fears of lower spending.
• La-Z-Boy fell 3.51% after the company missed earnings expectations and warned that sales will continue to sag like the cushions on an old recliner this year.

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Here’s where the major benchmarks ended:

• The S&P 500^® index (SPX) rose 23.73 points (0.42%) to 5,620.85; the Dow Jones Industrial Average^® ($DJI) advanced 55.22 points (0.14%) to 40,890.49; the NASDAQ Composite^®($COMP) added 102.04 points (0.57%) to 17,918.99.
• The 10-year Treasury note yield (TNX) fell three basis points to just under 3.78%, near recent lows.
• The CBOE Volatility Index^® (VIX) increased to 16.27.

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Tesla cars manufactured in China were slapped with a new tariff by the European Union as part of the group’s crackdown on Chinese green-energy exports.

And, The UAW threatened to strike against Stellantis for allegedly reneging on its promise to reopen an Illinois factory, which the carmaker denies.

Finally, Boeing was forced to pause progress on its oft-delayed 777X aircraft after discovering a structural problem during test flights.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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