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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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The Commonwealth Fund’s 2024 biennial health insurance survey, released November 21, found that though 79% of US adults had continuous health insurance for 12 months, 23% were under insured, meaning they have health insurance and still can’t afford care. About 56% of those surveyed had adequate insurance coverage all year.

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

STOCKS UP

• Rocket Lab rocketed (sorry) 3.44% to a new record high after launching not one, but two different rockets in two different hemispheres in a single day.
• Bath & Body Works soared 16.51% on a strong beat-and-raise quarter.
• Robinhood jumped 3.27% after Morgan Stanley analysts doubled their price target for the investing app.
• Super Micro Computer surged yet another 15.87%, more than doubling in the last seven days, and shareholders cheered its comeback.
• Hims & Hers Health climbed 23.77% on the news that the new head of the FDA may be an ally.
• Flying taxi company Vertical Aerospace popped 45.51% after announcing an additional $50 million in funding from one of its biggest shareholders.

STOCKS DOWN

• Defense contractor stocks got a double whammy today: Hopes of a ceasefire between Israel and Hezbollah, combined with Elon Musk’s declaration on X that buying manned military aircraft is wasteful. Lockheed Martin fell 3.76%, Northrop Grumman dropped 2.39%, and Raytheon Technologies parent company RTX Corp. fell 1.74%.
• Speaking of Musk, Tesla sank 3.96% after California announced it may exclude the automaker from incentives that encourage drivers to buy EVs in the state.
• Pipeline operator Oneok lost 4.72% on the news that it will acquire the remaining portion of EnLink Midstream that it doesn’t already own.
• After rallying last week thanks to its inclusion in the S&P 500, Texas Pacific Land sank 6.71% today as investors took profits.

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Here’s where the major benchmarks ended:

•  The SPX rose 18.03 points (0.30%) to 5,987.37; the $DJI added 440.06 points (0.99%) to 44,736.57; and the NASDAQ Composite^® ($COMP) gained 51.18 points (0.27%) to 19,054.84.
• The 10-year Treasury note yield fell 15 basis points to 4.27%.
• The CBOE Volatility Index^® (VIX)dropped to 14.74, the lowest since November 14.

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

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