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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: Over 90%. That’s the percentage of the insurance industry’s uptick in fossil fuel securities investment coming from just two firms, State Farm and Berkshire Hathaway. (The Wall Street Journal)

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Stocks up

• Southwest Airlines ascended 5.42% after the company laid out its growth plans in an attempt to fend off an activist investor attack.
• Starbucks climbed 1.93% thanks to an upgrade from Bernstein analysts who foresee a “grande comeback” for the coffee chain.
• CarMax revved 5% higher after posting strong second-quarter earnings, beating both top and bottom line forecasts.
• Jabil jumped 11.65% after the electronics parts manufacturer announced impressive earnings and revealed plans to cut costs.
• Bilibili, which sounds like you’re trying to get your friend William’s attention, popped 15.44% after Goldman Sachs analysts upgraded the Chinese internet company.

Stocks down

• Super Micro Computer plunged 12.17% on the news that the Department of Justice is launching a probe into the tech company, a few weeks after note short seller Hindenburg Research published a report alleging “accounting manipulation.”
• Sonos, makers of your favorite subwoofer, sank 4.45% after a rare “double downgrade” by Morgan Stanley analysts, who demoted the stock from a positive “overweight” all the way to a negative “underweight.”
• Oil stocks took a big hit today after Saudi Arabia announced it will increase its oil production next month. Diamondback Energy fell 6.46%, Shell dropped 3.91%, and ConocoPhillips lost 3.23%.

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Here’s where the major benchmarks ended:

• The S&P 500^® index (SPX) rose 23.11 points (0.40%) to 5,745.37; the Dow Jones Industrial Average^® ($DJI) added 260.36 points (0.62%) to 42,175.11; the NASDAQ Composite^® ($COMP) increased 108.08 points (0.60%) to 18,190.29.
• The 10-year Treasury note yield (TNX) climbed one basis point to 3.79%.
• The CBOE Volatility Index^® (VIX) was steady at 15.57.

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A retreat from ESG is due to backlash from conservatives who are critical of the idea that fund managers should be considering any other factor but a company’s shareholders in their investment decisions. Accusations of “greenwashing” have also plagued many ESG funds, which is when an asset management firm charges higher fees for a specific thematic fund without actually delivering a unique investment strategy.

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

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Filed under: Information Technology, Insurance Matters, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: banks, Berkshire Hathaway, DJIA, DOW, ESG, greenwashing, insurance, Investing, Marcinko, NASA, NASDAQ, S&P 500, SPX, State Farm, textbooks, TNX, VIX, Warren Buffett, WSJ |