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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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Inflation fell by one tenth of a percentage point to 2.3% for the year ending in April, the Bureau of Labor Statistics reported Tuesday in an update to the consumer price index. Forecasters had expected inflation to hold at 2.4%. 

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What’s up

• Coinbase exploded 23.97% on the news that the crypto trading platform will be added to the S&P 500 next week.
• Nvidia climbed back into the elite $3 trillion market cap club today, rising 5.63% on the announcement that it will send 18,000 AI chips to Saudi Arabia.
• Solar stocks soared after early drafts of a Republican tax and spending bill revealed renewable energy cuts weren’t as bad as feared. First Solar climbed 22.66%, while SunRun popped 8.58%.
• Super Micro Computer climbed 16.02% thanks to Raymond James analysts initiating their coverage of the server maker with an “outperform” rating.
• Boeing rose 2.46% now that the Chinese government has removed its ban on domestic airlines accepting orders from the plane manufacturer.
• Rising sentiment powered popular momentum stocks higher today: Palantir rose 8.14%, AppLovin climbed 6.38%, Robinhood Markets jumped 8.95%, and Hims & Hers Health gained 15.92%.

What’s down

• Honda Motor fell 4.20% after the company warned that tariffs will ding its bottom line and postponed its plans to build an EV plant in Canada.
• Hertz Global plunged 16.93% after it missed analyst estimates across the board and announced it will offer fewer cars for rentals this year.
• Enphase Energy lost 4.82% on a downgrade from Barclays analysts, who foresee slower demand for residential solar power products.
• Rigetti Computing dropped 14.59% after the quantum computing company failed to live up to the high expectations that strong results from its competitors had given shareholders.

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Wage garnishment for defaulted student loans to begin this summer.

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