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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Among consideration for CVS is splitting up its assets: CVS Pharmacy, pharmacy benefit manager CVS Caremark, and insurance arm Aetna. The company has reportedly been in talks with bankers about the move, Reuters reported early this month.

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

STOCKS UP

• Just as Nvidia will replace Intel, Sherwin Williams will replace Dow Inc. on the Dow (how embarrassing, getting kicked off an index you share a name with). Sherwin Williams popped 4.59%, while Dow Inc. fell 2.08%.
• Chewy is also getting added to an index, replacing Stericycle on the MidCap 400. Shares rose 6.34%.
• Peloton pedaled 3.59% higher on a double upgrade from Bank of America analysts, who like the bike company’s higher profit outlook and hiring of new CEO Peter Stern from Ford.
• Yum! China, the company that operates Pizza Hut and KFC restaurants in China, climbed 7.12% after announcing that new store openings translated into better-than-expected revenue and earnings last quarter.

STOCKS DOWN

Nuclear energy stocks took a big hit today after the Federal Energy Regulatory Commission ruled that Talen Energy could not increase the amount of energy its nuclear plant in Susquehanna, PA, produces in order to power an Amazon data center. Talen fell 2.23%, Vistra Corp sank 3.18%, and Constellation Energy plummeted 12.46%.

• Clinical data from a Viking Therapeutics trial shows its weight-loss pill is effective. Shares soared then sank 13.36% as investors took profits.
• The New York Times dropped 7.71% thanks to slower subscriber growth last quarter.

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

Here’s where the major benchmarks ended:

• The S&P 500^® index (SPX) dipped 16.11 points (–0.28%) to 5,712.69; the $DJI dropped 257.59 points (–0.61%) to 41,794.60; and the $COMP lost 59.93 points (–0.33%) to 18,179.98.
• The 10-year Treasury note yield (TNX) fell five basis points to 4.31%.
• The CBOE Volatility Index^® (VIX)edged up to 22.11, still below last week’s peaks.

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

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Filed under: "Ask-an-Advisor", Drugs and Pharma, Financial Advisor Listings, Financial Planning, Funding Basics, Glossary Terms, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: Aetna, CVs, CVS Caremark, CVS pharmacy, DJIA, DOW, finance, Marcinko, market, NASA, NASDAQ, PBM, S&P 500, stocks, textbooks, TNX, VIX, WSJ |