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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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🟢 What’s up

• Tesla climbed another 5.67% on signs that Elon Musk and President Trump are mending fences and on hype around the robotaxi reveal this week.
• TSMC rose 2.63% after the semiconductor company reported that its revenue in the month of May rose 39.6% year over year.
• Disney rose 2.65% higher a day after agreeing to purchase Comcast’s stake in streaming service Hulu for $438.7 million. Comcast climbed 2.95%.
• Solar stocks got a bit of hope after the Wall Street Journal reported that tech companies are lobbying Congress to keep clean energy subsidies in the tax and spending bill. SolarEdge rose 11.81%, and Sunrun gained 7.13%.
• Insmed exploded 28.65% thanks to strong results for the biopharma company’s new treatment for pulmonary arterial hypertension.
• Casey’s General Store rose 11.59% after the retailer crushed Wall Street’s profit expectations last quarter and raised its dividend.

What’s down

• J.M. Smucker tumbled 15.59% on mixed earnings results and a weaker-than-expected fiscal forecast for the snack foods company.
• McDonald’s lost 1.43% thanks to a double downgrade from Redburn Atlantic analysts, who think the fast food titan’s slowing foot traffic and headwinds from obesity drugs will hurt its growth. That’s the company’s third downgrade in three days.
• Snap fell just 0.12% after the social media company unveiled its new augmented reality glasses.
• Calavo Growers plunged 16.26% after the avocado distributor reported much worse quarterly results than Wall Street was expecting.
• Biopharma stocks Liquidia and United Therapeutics lost 16.87% and 14.32%, respectively, on competitor Insmed’s good news.

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• Stocks: Markets meandered higher as investors awaited news from ongoing US & China trade negotiations in London. Commerce Secretary Howard Lutnick said talks were going well and could continue into tomorrow.
• Commodities: Oil soared to its highest price since April on hopes that a trade deal between the world’s largest economies could spur demand, but plunged back to earth after the US said oil output will fall next year.
• Crypto: After just barely holding on last week, Bitcoin has now stayed above $100,000 for 30 days straight for the first time ever—a signal to traders that there’s a new level of support for the crypto king.

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

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