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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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Here’s where the major stock market benchmarks ended:

• The S&P 500^® index (SPX) fell10.69points (–0.18%) to 5,853.98; the Dow Jones Industrial Average^® ($DJI) lost 344.31 points (–0.80%) to 42,931.60; and the NASDAQ Composite^® ($COMP) rose 50.45 points (0.27%) to 18,540.01.
• The 10-year Treasury note yield (TNX) climbed 11 basis points to 4.18%, outpacing a 7 basis-point rise for the 2-year Treasury note yield.
• The CBOE Volatility Index^®(VIX) climbed to 18.6 but remains below recent peaks.

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

STOCKS UP

• Spirit Airlines soared like one of its bankrupt planes, rising 53.06% thanks to an extension for refinancing its debt.
• Boeing popped 3.11% on the news that it has reached a tentative deal with the machinists union that has been on strike for over a month now. With Boeing’s earnings announcement coming Wednesday, shareholders are definitely breathing a sigh of relief.
• Activist investor Starboard Value has taken a sizable stake in Tylenol-maker Kenvue, which was spun off of Johnson & Johnson just last year. Kenvue shares rose 5.52% on the news.
• Warby Parker climbed 9.84% thanks to an upgrade from Goldman Sachs analysts, who like the company’s strong margin growth and improved operational efficiency.

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

STOCKS DOWN

• Cigna will once again attempt to acquire fellow health insurer Humana. Shareholders on both sides didn’t like the idea: Shares of Cigna sank 4.69%, and Humana fell 2.51%.
• UPS dropped 3.38% on a downgrade from Barclays analysts citing pressures on the company’s margins, including higher competition and weaker demand. Management will have a chance to respond when earnings drop on Thursday.
• Southwest Airlines fell 1.74% after Bloomberg reported that the beleaguered airline wants to call a truce with activist investor Elliott Investment Management.

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

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