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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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The operator of the longest-running money laundering machine in dark web history, Bitcoin Fog, has been sentenced to 12 years and six months in US prison. Roman Sterlingov, 36, a Russian-Swedish national, was also ordered to repay more than half a billion dollars accrued from the cryptocurrency mixing service that he ran for a decade between 2011 and 2021.

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

Stocks Up

• r Elliott Investment Management is at it again, this time with a $5 billion stake in industrial conglomerate Honeywell. Shares gained 3.87% on the news.
• Shopify announced its ninth consecutive quarter of beating analyst revenue expectations, pushing shares up 21.04%.
• Bad news is good news: 40% of the workforce at 23andMe is getting laid off to cut costs. Shareholders cheered, and shares climbed 2.17%.
• Where’s the beef? Tyson Foods popped 6.55% after announcing strong earnings thanks to higher beef and chicken prices last quarter.
• Sentinel One climbed 2.01% after Deutsche Bank analysts upgraded the cybersecurity stock from “hold” to “buy,” noting it should profit from CrowdStrike’s outage earlier this year.

Stocks Down

• Novavax fell 6.10% after cutting its financial guidance due to poor sales of its Covid-19 vaccine.
• Holding company IAC is considering a spinoff of home improvement services platform Angi (formerly Angie’s List). Nobody liked that: Shares of IAC fell 12.56%, and Angi plummeted 26.34%.
• Payments processor Shift4 Payments sank 5.69% after crushing revenue expectations but missing on earnings.
• Mosaic dropped 7.74% thanks to Hurricane Milton, which disrupted the fertilizer company’s business across the board.
• TreeHouse Foods plunged 14.36% to a new 52-week low after the food processor missed on both top- and bottom-line earnings expectations.

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Here’s where the major benchmarks ended:

• The S&P 500^® index (SPX) fell 17.36 points (–0.29%) to 5,983.99; the Dow Jones Industrial Average^® ($DJI) lost 382.15 points (–0.86%) to 43,910.98; and the NASDAQ Composite^® ($COMP) decreased 17.36 points (–0.09%) to 19,281.40.
• The 10-year Treasury note yield added 12 basis points to 4.43%.
• The CBOE Volatility Index^® (VIX) fell to 14.81, unusual on a day when stocks lost ground.

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Chegg is on the verge of collapse. Its stock is down 99% since 2021, the Wall Street Journal reported, wiping out nearly $15 billion in market value.

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

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