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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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• While stocks usually steal headlines, all eyes were on the bond market today. The 10-year bond yield popped back above 4.5% first thing this morning while the 30-year rose above 5% as fears of larger deficits due to the Republican tax and spending bill gave investors pause. A poorly received auction of $16 billion in 20-year bonds this afternoon only pushed yields higher.
• Bitcoin climbed to a new all-time high early in the trading session, touching $109,500 at one point today as investors continue to search for alternatives to bonds and the US dollar.
• Crude oil climbed to its highest price in a month on reports of flaring tensions between Israel and Iran, then tumbled lower after the US announced surprisingly high oil inventories.

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What’s up

• Silly goose: Outdoor apparel maker Canada Goose soared 19.35% after reporting a stellar first quarter.
• Alphabet rose 2.79% following a slew of big announcements at its developer conference, including a revamped AI Search.
• Xpeng popped 13.06% thanks to a smaller-than-expected loss last quarter for the Chinese EV maker.
• WeRide soared 21.42% on the announcement that the robotaxi will buy back $100 million of its stock.

What’s down

• UnitedHealth Group secretly paid nursing homes to transfer fewer people to hospitals so it could cut costs, according to The Guardian. Shares understandably tumbled 5.79%.
• Target missed the mark last quarter, with fewer transactions thanks to DEI boycotts leading to lower sales and profits, pushing shares down 5.21%.
• Lowe’s sank 1.77% despite sticking to its full-year guidance, noting that sales to professionals will pad its bottom line.
• Palo Alto Network may have beaten analysts’ estimates for sales and profits, but the cybersecurity company still fell 6.80% due to thinner margins.
• Take-Two Interactive sank 4.52% after the video game maker put $1 billion in common stock on the market.
• Fair Isaac caught strays today from a Trump Administration official who was displeased by the credit analytics company’s decision to raise royalty fees.
• Carter’s crashed 15.74% on the announcement that the children’s clothing retailer will slash its dividend due to higher costs from tariffs.
• Airline stocks tumbled after the FAA limited flights in and out of Newark Airport. United Airlines fell 3.93%, Southwest Airlines lost 2.35%, and American Airlines sank 3.52%.
• Wolfspeed, easily the best-named stock on the market, may go bankrupt. Shares of the semiconductor supplier dropped 59.11%.

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

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