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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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• Stocks wavered throughout the day as the 10-year Treasury yield rose back above 4.5%, making a convincing argument for investors to buy risk-free bonds with big yields rather than equities.
• Yields on both 20-year and 30-year Treasuries traded above 5% after the Republican tax and spending bill passed the House, raising fears of a bigger US deficit and lower creditworthiness in the years ahead.
• Bitcoin continued to climb last night, hitting a new record high of $111,886.41 in the wee hours of the morning before losing some ground throughout the trading session today.

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

What’s up

• Nike gained 2.30% on the news that it will begin selling its shoes on Amazon for the first time since 2019.
• Fannie Mae popped 46.73% and Freddie Mac jumped 42.50% on President Trump’s comments that he’s seriously considering bringing the mortgage giants public.
• Advance Auto Parts exploded 57.14% higher after better-than-feared earnings made it clear that its turnaround plan is working.
• Urban Outfitters soared 22.84% after reporting EPS of $1.16 last quarter, far better than the $0.84 per share analysts had forecast.
• Snowflake gained 13.47% thanks to a strong first quarter and management’s expectation that revenue will rise about 25% this quarter.

What’s down

• Walmart lost 0.48% on the news that it will cut 1,500 jobs in a corporate restructuring.
• Analog Devices fell 4.63% even though the semiconductor maker beat Wall Street estimates on both sales and profits last quarter.
• Health insurance stocks took a hit on reports that the US government will conduct “aggressive” Medicare Advantage audits. Humana sank 7.58%, UnitedHealth Group fell 2.08%, and CVS Health dropped 3.06%.

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

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