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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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UnitedHealth posted $6 billion in profit and $100 billion in revenue, but the company’s stock is dipping this morning.

Walgreens is closing 1,200 stores by 2027 and a net loss of $3 billion, though the company beat Wall Street’s expectations.

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Stocks Up

• Chip stocks recovered lost ground today thanks to a strong earnings report from TSMC (more on that below). Nvidia led the group higher, rising 0.89% to yet another new all-time high.
• Blackstone rose 6.30% to a new record high after the world’s largest alternative asset manager reported an excellent quarter.
• Expedia popped 4.75% after a report by the Financial Times revealed that Uber had explored an acquisition of the travel site. Expedia shareholders cheered the news, while Uber shares sank 2.45%.

Stocks Down

• Robinhood fell 2.27% after announcing its new Legend trading platform geared specifically toward advanced traders.
• Lucid Group plummeted 17.99% on the news that the EV automaker is offering over 262 million shares of its common stock in an attempt to raise funds.
• CSX dropped 6.71% after missing both top- and bottom-line estimates last quarter thanks in no small part to hurricanes Helene and Milton.
• Health insurance stocks took a beating today due to a not-great earnings report from Elevance Health (more on that below, too). Centene Corp. fell 9.09%, while Molina Healthcare tumbled 12.55%.

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Here’s where the major benchmarks ended:

• The S&P 500^® index (SPX) slipped 1.00point (–0.02%) to 5,841.47; the $DJI added 161.35 points (0.37%) to 43,239.05; and the NASDAQ Composite^®($COMP) rose 6.53 points (0.04%) to 18,373.61. 
• The 10-year Treasury note yield (TNX) climbed eight basis points to 4.1%.
• The CBOE Volatility Index^® (VIX) sank to 18.97 by late Thursday, a two-week low.

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The average amount owed on “upside down” auto loans, in which the balance is more than the car is worth, hit a record high of $6,458 in the third quarter, according to Edmunds, a site that helps consumers research and buy cars

Diabetes advocates have officially joined the fight against pharmacy benefit managers (PBMs).

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