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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Stat: 25%. That’s how much shares of Reddit shot up after the social media company reported a profit for the first time. (Business Insider)

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

What was up

• Comcast popped 3.39% on the news that it is exploring a separation of its cable business. The network operator got a boost this quarter from the Olympics, but still lost 365,000 cable TV customers.
• Peloton Interactive pedaled 27.82% higher after the bike maker beat earnings expectations and introduced a new CEO.
• Carvana accelerated 19.23% on an impressive beat-and-raise earnings report that caps off the car seller’s incredible comeback.
• Booking Holdings, owner of Kayak and Priceline, hit a record high after the travel company reported shockingly strong earnings. Shares rose 4.76%

What was down

• Trading in shares of Trump Media & Technology Group was halted yet again today after the meme stock sank dramatically to start the day. Shares ended the trading session down 11.72%.
• Estee Lauder plummeted 20.84% on a triple whammy of bad news: The cosmetics retailer missed earnings estimates, pulled its forecast, AND cut its dividend. Ouch.
• Nikola dropped 7.09% after the EV startup announced a larger-than-expected loss last quarter.
• Super Micro Computer continued to tumble today, declining another 11.97% as the fallout from the resignation of its financial auditor raises the threat of the semiconductor stock getting delisted from the Nasdaq.
• eBay sank 8.18% after beating earnings expectations but issuing disappointing earnings guidance heading into the holiday season.

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

Here’s where the major benchmarks ended:

• The SPX fell 108.22 (–1.86%) to 5,705.45; the Dow Jones Industrial Average^® ($DJI) dropped 378.08 points (–0.90%) to 41,763.46; and the NASDAQ Composite^® ($COMP) lost 512.78 points (–2.76%) to 18,095.15 and has now fallen in two of the last four months.
• The 10-year Treasury note yield (TNX) added two basis points to 4.28%.
• The VIX rose to 22.6, the highest since October 8.

CITE: https://tinyurl.com/tj8smmes

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

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