M&As: A New Guidelines Draft

Posted on October 27, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

http://www.MARCINKOASSOCIATES.com

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Last month, the FTC and DOJ jointly released a draft of new guidelines they will use to evaluate potential mergers and acquisitions (M&As).

The guidelines include 13 principles the agencies will follow when scrutinizing deals. The principles stipulate that mergers may not “entrench or extend a dominant position,” eliminate competition between firms, increase concentration in an already concentrated market, or prevent new players from entering a market. The guidelines will be finalized following a 60-day public comment period.

The proposed rules reflect a return to pre-2010 guidelines on concentration, the Wall Street Journal reported, noting that they’d apply to deals that resulted in firms having a market share of 30% or more. The new guidance may give the FTC and DOJ, which have filed numerous antitrust actions, more leeway to go after deals.

PHYSICIAN ENTREPRENEURS: https://marcinkoassociates.com/welcome-medical-colleagues/

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ACCENTURE: EMEA CEO Disposes of $2M of Stock

Posted on October 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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  • Accenture (NYSE:ACN) said that its EMEA CEO Jean-Marc Ollagnier has disposed of direct stake worth ~$2M in the professional services company.
  • Ollagnier sold 6,250 class A shares in multiple trades at prices ranging from $300.25 to $305.30.
  • The executive is now left with 161,622 of direct stock and 25,000 of indirect stake.
  • Accenture has seen 15,250 shares sold in 3 sell transactions and 2,143 shares bought in 41 open market buys.
  • ACN shares were trading 0.33% down Tuesday.

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SPONSOR & ADVERTISE on the MEDICAL EXECUTIVE-POST

Posted on October 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

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INFLUENCERS

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• Reader loyalty. Not only does the ME-P receive a mind-boggling number of page views and visits each month, its readers are loyal.
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• Selective advertising. The ME-P is a free read that’s off the radar of the big-ad companies. Your ad here stands out as personal and different.
• Supporting the ME-P makes a big difference and costs only a fraction of other online publications with far fewer readers.
• Cost. CPM is reasonable and low compared to other sites.

E-mail us for a full packet, but give a look to these results from the ME-P’s annual reader survey:

* 89% of readers said the ME-P influences their perception of products and companies
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* 754% said the ME-P has some, a good bit, or a lot of industry influence

Contact me and I’ll e-mail you a rate card. Your support makes a difference!

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EMAIL: MarcinkoAdvisors@msn.com

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SOLAR ECLIPSE: Illuminates Corporate Earnings

Posted on October 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The sun and the moon don’t typically run in the same circles but, for a fleeting moment today, they’ll participate in a rare joint appearance: the annular solar eclipse. That’s when the moon lines up directly between the Earth and the sun, blacking out all of the star except the outer rim, forming a “ring of fire.” So, provided the skies are clear, people in the Western US will be able to see the full ring of fire, while the further east you go, the more “partial” the eclipse becomes. Wherever you live, experts warn that you shouldn’t look directly at the eclipse without eye protection.

LINK: NASA’s eclipse map

The following companies had stock price moves driven by quarterly earnings, analyst ratings, or other news:

  • BlackRock (BLK) fell 1.3% after the world’s largest money manager posted third-quarter revenue that fell short of expectations.
  • Boeing (BA) fell 3.3% following reports the aerospace company had widened the scope of an investigation into potential defects in its 737 MAX 8 aircraft.
  • Citigroup was about 0.2% lower despite reporting stronger-than-expected earnings per share and revenue.
  • Dollar General (DG) rose 9.2% after a Gordon Haskett analyst upgraded the stock to “buy” from “hold” after the company announced that former CEO Todd Vasos would be returning immediately.
  • JPMorgan rose 1.5% after country’s biggest bank reported better-than-expected quarterly earnings and revenue, helped by favorable net-interest income, or the money it made lending minus what it paid to customers.
  • PNC Financial Services Group (PNC) fell 2.6% after reporting mixed third-quarter results, as earnings per share topped expectations but revenue missed.
  • Post Holdings (POST) rose 2.6% after JPMorgan initiated coverage of the St. Louis-based breakfast cereal maker with an overweight rating, citing strong cash flow.
  • Progressive Corp. (PGR) gained 8.1% after the insurance company reported better-than-expected quarterly results.
  • UnitedHealth Group (UNH) rose 2.6%, leading Dow gainers, after quarterly earnings and revenue exceeded expectations.
  • Wells Fargo was up 2.8% after reporting stronger-than-expected quarterly revenue and higher earnings.

More large banks are due to report next week, with Bank of America (BAC) and Goldman Sachs (GS) expected to report results Tuesday and Morgan Stanley (MS) on tap Wednesday.

Netflix (NFLX) and Tesla (TSLA) are among the other notable companies on the calendar. Netflix shares have been slipping since early September, touching a five-month low Friday, but are still up 20% so far this year. Abbott Labs (ABT), American Airlines (AAL), CSX (CSX), Johnson & Johnson (JNJ), Union Pacific (UNP), and United Airlines (UAL) will also be reporting.

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

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PRIVATE COMPANIES: Raising Capital is Hard ~ No Very Tough!

Posted on October 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

SPONSOR: http://www.MARCINKOAssociates.com

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The markets are down again and stocks continued their September slump with tech companies getting hit especially hard as investors fretted about another possible Fed rate hike because of data showing prices for manufacturing and services trending upward. It was a mixed bag for the meme stock faithful, with AMC hitting an all-time low after releasing a plan to sell new shares and GameStop rising after-hours thanks to better-than-expected sales last quarter.

MEME: https://medicalexecutivepost.com/2021/10/23/what-are-meme-stocks/

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This all may demonstrate that private companies looking to fund growth in this high-interest rate environment are facing a tough time raising capital amidst falling valuations, according to a new Deloitte survey.

The problem is particularly acute for smaller companies. Many of the companies challenged by capital raising saw themselves putting out the “For Sale” sign within the next six months, which could lead to an M&A boom later this year.

CITE: https://www.r2library.com/Resource/Title/0826102549

“The No. 1 largest factor that people saw as a challenge or a barrier was a decrease in valuations of their business,” Wolfe Tone, vice chair and US and Global Deloitte Private leader, told CFO Brew. “Clearly, increasing interest rates and pricing was closely behind that. Liquidity challenges not far behind that.”

Private companies have been looking to raise capital to fund a range of growth initiatives; meeting talent needs and expanding tech capabilities are at the top of the list, Tone said. Not far behind was “increasing productivity and improving cost structures.”

VC FUNDING: https://marcinkoassociates.com/fmv-appraisals/

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STRIKE: Kaiser Permanente Strikes

Posted on October 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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More than 75,000 workers employed by Kaiser Permanente, one of the largest nonprofit healthcare providers in the US, plan to walk off the job for three days—starting today.

Healthcare workers across the industry are experiencing challenges, which Kaiser acknowledged in response to the looming strike. According to a statement by the company, up to two-thirds of healthcare staff everywhere are burnt out. That’s exacerbated by the issues Kaiser employee unions say they’re striking over, including:

  • Acute staffing shortages: Short-staffing is a common problem in healthcare, but union members say that it has worsened between the pandemic and the Great Resignation—and patient safety is in danger.
  • Wage increases: The union wants what it describes as competitive compensation that accounts for the increased cost of living: a $25/hour wage floor and increases between 6.25% and 7% over the next four years.

Kaiser insists it pays a decent and denied claims of being short-staffed, saying it hired 22,000 people already this year.

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PODCAST: Medical Unions in Healthcare

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Physicians, hospitals, and emergency rooms will not be impacted, but some facilities will have reduced staff for nursing and support roles.

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OCTOBER 4th: National “Emergency Alert” Day

Posted on October 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

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On Wednesday at 11:20 am and 2:20 pm 2023, Eastern, most Americans will simultaneously feel their cellphones vibrate, hear them make a loud sound and see a push alert pop up on their screens. Most radio and television stations will broadcast an alert at the same time for about one minute.

It’s a test of the national emergency alert systems, which are designed to let the government reach hundreds of millions of people in the United States immediately if there is a disaster affecting the entire country. The Federal Emergency Management Agency and the Federal Communications Commission are conducting the coordinated test to see if the technology is working as designed and if any improvements are needed.

The sound is a unique tone that probably will interrupt classes and meetings, reveal the locations of hidden phones, and jar anyone not expecting it. The test itself is already leading to baseless conspiracy theories about how the powerful communication tool could be abused.

There is no national emergency, no reason to panic and nothing you need to do about the alerts.

It is, as the text will say, just a test.

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2023 NOBEL PRIZE: MEDICINE Katalin Karikó and Drew Weissman PHYSICS Pierre Agostini, Ferenc Krausz and Anne L’Huillier

Posted on October 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICINE: By Staff Reporters

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Dr. Katalin Karikó and Drew Weissman MD PhD just received the Nobel Prize in medicine. Their study of mRNA led to the development of the Covid-19 vaccine.

Oiginally from Hungary, Kariko joined the University of Pennsylvania as a research assistant professor in 1989 to study mRNA. Her grant proposals were constantly rejected, while the rest of the scientific community was slow to catch on to her groundbreaking research. She was never paid more than $60,000 a year. And it was only through a chance encounter at the photocopier that she began to work with Weissman, currently the director of the Penn Institute for RNA Innovation.

The two made the discovery of a lifetime in 2005—that mRNA can be manipulated and injected into the body to activate an immune response. The major academic journals Science and Nature rejected their paper, which received little fanfare even after being published in a less prestigious journal.

So, in 2013, Karikó left Penn for a job at BioNTech where she still works today. And, of course, their breakthrough came in handy during the global pandemic.

Thanks largely to Karikó and Weissman, mRNA vaccine technology, Moderna and BioNTech are working on mRNA vaccines for RSV, HIV, Zika, malaria, shingles, flu, and cancer.

RSV Tests: https://medicalexecutivepost.com/2023/09/25/rsv-vaccine-cdc-oks-pfizer-maternal-shots/

DNA: Testing: https://wordpress.com/post/medicalexecutivepost.com/395273

DANGER: DNA Self-Testing: https://medicalexecutivepost.com/2021/04/25/the-potential-dangers-of-testing-your-own-dna/

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PHYSICS: By Staff Reporters

And, three scientists won the Nobel Prize in physics yesterday for their work on how electrons move around the atom during the tiniest fractions of seconds, a field that could one day lead to better electronics or disease diagnoses.

The award went to Pierre Agostini, Ferenc Krausz and Anne L’Huillier for their study of the tiny part of each atom that races around the center and that is fundamental to virtually everything: chemistry, physics, our bodies and our gadgets.

The movements of electrons inside atoms and molecules are so rapid that they are measured in attoseconds – an almost incomprehensibly short unit of time. “An attosecond is to one second as one second is to the age of the universe,” the committee explained.

“They were able to, in a sense, provide an illumination tool that allows us to watch the assembly of molecules: how things come together to make a molecule,” Bob Rosner, president of the American Physical Society and a professor at the University of Chicago, told CNN.

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SEC: New Cyber-Security Regulations

Posted on October 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The SEC’s new cybersecurity regulations went into effect last week. Most companies are “largely ready” to comply, Matt Gorham, senior managing director and leader of PwC’s Cyber & Privacy Innovation Institute, told CFO Brew, “but that doesn’t mean there isn’t work to do.”

As their companies’ finance leaders, CFOs are instrumental in determining whether a cybersecurity incident is material, but they have other roles to play as well. Gorham shared his advice for how CFOs can help their organizations comply with the new regs. Now, aAs a reminder, the regulations consist of what Gorham refers to as three “buckets.” Companies that file with the SEC are required to:

  • Declare any material cybersecurity incidents to the SEC on Item 1.05 of Form 8-K within four business days of determining materiality
  • Disclose information about their cyber risk management and strategy on a new section of the 10-K called Item 1C
  • Disclose information about their boards’ and management’s role in overseeing cybersecurity risk

The first two “buckets,” Gorham said, will likely require the most work to comply with.

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NATIONAL COFFEE & WORLD HEART DAY: Today!

Posted on September 29, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

Today is National Coffee Day

To celebrate, enjoy a free coffee from a breakfast chain, and while you wait for it to cool, reflect on the fact that the cup of coffee in your hand is one of about 3 billion being consumed around the world just today—a number that has nearly doubled over the past three decades and is expected to double again by 2050, per the Financial Times.

BTW: Over the next two years, Starbucks is on pace to open a new store in China every nine hours.

NOTE: Key differences between a latte and coffee include:

  • Brew method: Lattes are made with an espresso base, while coffee is brewed with hot water.
  • Taste: Lattes are sweeter and creamier than coffee.
  • Caffeine: Lattes are less caffeinated than coffee.
  • Calories: Coffee is lower in calories than a latte.
  • Price: Lattes are typically more expensive than coffee due to the espresso base and the addition of milk.

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Today is World Heart Day

Today is also World Heart Day, a reminder for patients to not miss a (heart) beat and check in on their cardiovascular health. Eating plenty of fruits and vegetables, exercising regularly, and not smoking can help lower your risk for heart disease, the CDC found.

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PHARMACISTS: Stage CVS Health Walk-Out?

Posted on September 25, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Nearly two dozen pharmacists at the nation’s largest retail pharmacy chain staged a walkout in the Kansas City metro area this week over working conditions they say put CVS Health pharmacists and patients at risk. 

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The walkout began Thursday and continued into Friday. Organizers said they had shuttered numerous pharmacies across the metro area, which covers a portion of eastern Kansas and western Missouri. Some pharmacies outside the metro area also have joined. They estimated at least 22 locations had closed.

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

While the group’s specific complaints focus on store staffing and quotas, the walkout reflects a rising outcry from pharmacists at several national pharmacy chains. They say their work requirements leave them unable to safely fill and verify prescriptions, putting patients at risk of serious harm or even death.

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RSV VACCINE: CDC OK’s Pfizer Maternal Shots

Posted on September 25, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Respiratory syncytial virus (RSV), also called human respiratory syncytial virus (hRSV) and human orthopneumovirus, is a common, contagious virus that causes infections of the respiratory tract. It is a negative-sense, single-stranded RNA virus. Its name is derived from the large cells known as syncytia that form when infected cells fuse.

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

CDC panel backs Pfizer’s maternal RSV vaccine

A Centers for Disease Control and Prevention advisory committee yesterday recommended administering the vaccine to pregnant people during the third trimester to prevent infants from contracting the virus.

The vaccine is already available, and another RSV vaccine made by AstraZeneca and Sanofi, which is given directly to babies, also won approval recently. RSV sends ~80,000 children under five to US hospitals annually, according to the CDC, and it’s the second leading cause of death for under-one-year-olds globally.

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U.S. JOBLESS CLAIMS: Fall

Posted on September 24, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stocks dropped for the third straight day after Fed officials said they plan to keep interest rates higher for longer than they previously thought. Meanwhile, Fox shares jumped 3% on the news Rupert Murdoch is stepping down as chairman of the mass media company (much more on that below).

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US jobless claims fell to an eight-month low

Applications for unemployment benefits dropped 20,000 to 201,000 last week, according to Labor Department data released yesterday. That was both the fewest number of claims since January and also among the fewest in the last 50 years. But it may not last for long.

The ongoing United Auto Workers strike could force car manufacturers to temporarily lay off more workers, leading to a reversal of what one analyst called “rock bottom levels” of job cuts.

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KLAVIYO: Opens Above IPO Price

Posted on September 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

Klaviyo, the digital marketing software company popped more than 20% above its IPO price of $30/share during its first day of trading yesterday and ultimately ended the day 9% up. This performance will likely help other tech companies to feel confident enough to go public.

LINK: https://www.klaviyo.com/

But, for those keeping score of the IPO market at home, this week’s other high-profile, venture-backed market entrant, Instacart, fell yesterday after an initial bump following its Tuesday debut.

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MEDICARE PART B: Dental Care

Posted on September 19, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

Medicare enrollees could save $500+ per year in out-of-pocket spending if federal lawmakers expand parts of the program to include dental services, according to a report released last week.

The Urban Institute analysis—aided by funding from the Robert Wood Johnson Foundation—examined the implications of expanding Medicare Part B, which covers medically necessary and preventive services, to include dental care. The proposed coverage would be subject to Part B deductibles and 20% cost-sharing, and it could lower out-of-pocket expenses by 80%, or $530 per person annually, the report found.

Katherine Hempstead, a Robert Wood Johnson Foundation senior policy advisor, said the proposed expansion is “an opportunity to increase equity and close long-standing gaps in access to dental services.” Low-income older adults currently “bear the brunt” of Medicare’s lack of dental coverage, she added.

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U.S. INCOME: Falling

Posted on September 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

For the third straight year, US incomes fell, according to new Census Bureau data. In 2022, the median household income fell to $74,580, adjusted for inflation. That’s a 2.3% decline from 2021’s median estimate of $76,330, according to the Census Bureau. And the latest figures mark a 4.7% drop from a 2019 peak of $78,250.

Meanwhile, earnings for both part-time and full-time workers fell 2.2% between 2021 and 2022. For full-time, year-round workers, median earnings dropped 1.3% in 2022.

One small bright spot: The Gini index, a measure of income inequality, modestly improved. The income gap between high- and low-income households decreased by 1.2% between 2021 and 2022, marking the first annual decrease since 2007.

GINI INDEX: https://medicalexecutivepost.com/2022/09/24/what-is-the-gini-index/

In all, though, the latest Census data provides a snapshot of American households’ economic troubles, and the abundance of cash-strapped workers has created new challenges for CFOs.

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DAILY UPDATE: Planet Fitness and Instacart

Posted on September 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stocks slouched into the weekend as investors wait to see what happens at next week’s Fed meeting. Planet Fitness dropped after its board’s surprise decision to oust the CEO, who had led the gym chain for more than a decade.

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Instacart is planning to price its IPO shares higher since Arm’s IPO went so well. The grocery delivery company will make its market debut on Tuesday.

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U.S.A. DOJ versus GOOGLE LLC

Posted on September 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

One week into the 10-week trial in the U.S.A’s government’s high-stakes antitrust case against Google as the two sides have already staked out their positions.

The DOJ claims that Google spends billions per year to maintain its monopoly over search, paying to be the default on web browsers and mobile devices. Google, meanwhile, asserts that its dominant position comes from being better than all its competitors.

“If Google is prevented from competing, that won’t make Yahoo or DuckDuckGo run faster,” the company’s lawyer reportedly said in court.

DOJ: https://www.justice.gov/atr/case/us-and-plaintiff-states-v-google-llc

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Arm IPO: NASDAQ Success over NYSE

Posted on September 15, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stocks shot up yesterday on the strength of Arm’s IPO. Investors were pleased with the British chip-maker’s debut: Shares surged 25%, leading to the best day for the Dow since early August.

Arm’s debut was also a big win for NASDAQ, which hopes to parlay the successful IPO into grabbing more listings over rival NYSE.

IPOs: https://medicalexecutivepost.com/2023/05/01/initial-public-offerings/

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DAILY UPDATE: America’s Health Insurance Plans, Auto Insurance and New Car Costs & the Markets

Posted on September 14, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

Yesterday was the first day of trade group America’s Health Insurance Plans 2023 Consumer Experience & Digital Health Forum, a two-day conference focused on emerging digital health innovations and how they’re changing the consumer experience of the US healthcare system.

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RISK MANAGEMENT: https://www.routledge.com/Risk-Management-Liability-Insurance-and-Asset-Protection-Strategies-for/Marcinko-Hetico/p/book/9781498725989

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According to Bankrate’s extensive research, the average cost of auto insurance in the U.S. is $2,014 per year. Minimum coverage, on the other hand, has an average annual cost of $622. However, car insurance is like a fingerprint. Although your circumstances may seem similar, your personalized rating factors will cause your premium to vary from that of friends, family and the national average. Still, knowing the average cost of car insurance might give you the information you need to ensure you’re not overpaying for this necessary financial protection. 

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The average cost of new cars is now well over $48,000—up almost $6,000 from two years ago and about $10,000 from September 2020, according to Kelley Blue Book.

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Here is where the major benchmarks ended:

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AUGUST: Inflation is Up – Yet Again

Posted on September 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

It’s All About the [GAS] Pump!

By Staff Reporters

Inflation rose by an annual rate of 3.7% in August amid higher gasoline prices, marking the second consecutive month of rising costs. 

The Consumer Price Index, which tracks a basket of goods and services typically purchased by consumers, increased 0.6% from July, the Labor Department said Thursday. On an annual basis, the increase was higher than economists’ forecast of 3.6%, according to FactSet. 

Yet the so-called core CPI, which excludes volatile fuel and food costs, rose 4.3% from a year ago, matching the forecast from economists surveyed by FactSet.

By comparison, the core CPI had increased 7.3% in the past year, signaling that prices have cooled over that time.

Elderly CPI: https://medicalexecutivepost.com/2023/02/19/what-is-the-elderly-cpi/

MAY CPI: https://medicalexecutivepost.com/2023/06/14/cpi-report-may-round-up-2023/

Gas TAX: https://www.msn.com/en-us/money/markets/kemp-suspends-georgia-gas-tax-declares-state-of-emergency/ar-AA1gBR6i?ocid=U521DHP&pc=U521&cvid=e3a3f5f1dca44f8eb173cbee39340249&ei=57

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NARCAN: OTC Naloxone Hydrochloride

Posted on September 10, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

NARCAN

By Staff Reporters

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According to Morning Brew, for the first time, people across the US will be able to purchase an overdose-reversal drug that’s as easy to administer as Flonase, without a prescription. Next week, nationwide chains like Walgreens, CVS, Walmart, and Rite Aid will begin selling two-dose boxes of Narcan, a naloxone nasal spray that saves people from opioid overdose, in stores and online.

Making naloxone widely accessible has long been a goal for public health experts because Fentanyl-laced drugs can kill people before paramedics arrive, but some now worry that over-the-counter Narcan’s $45 retail price could be too high for those who need it most.

That’s where insurance comes in:

  • Medicaid and Medicare already cover prescription naloxone, and so far, Missouri, California, Massachusetts, Washington, Rhode Island, and Oregon Medicaid programs said they’ll cover OTC Narcan, too.
  • While private health plans often restrict OTC drug coverage, Blue Cross Blue Shield of Massachusetts said it’ll fully cover nonprescription Narcan.

But this won’t help the one-fifth of people with opioid use disorder who are uninsured. Some government and harm reduction programs give out Narcan for free—and those groups can now order two-dose boxes in bulk at a discounted $41 per box, according to manufacturer Emergent BioSolutions.

PODCAST BALTIMORE NOD: https://medicalexecutivepost.com/2022/08/31/what-is-the-baltimore-nod/

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DAILY UPDATE: August Red, Cannabis Green, Covid-19 and the Markets

Posted on September 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Despite a recent rally, stocks couldn’t climb out of the deep hole they dug themselves earlier in the month, and all three major indexes finished August in the red.

Cannabis companies were the clear winner following news that the Department of Health and Human Services recommended that green pot should be reclassified as a lower-risk substance.

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And, Anthony Fauci MD has said that there is “not going to be the tsunami of cases that we’ve seen” during the darkest days of the COVID-19 pandemic, following the emergence of two new variants of the virus. Speaking to the BBC, the former chief medical advisor to the president, who was regularly the face of the government’s response to the pandemic, played down the seriousness of the new strains, stressing that the vast majority of the population had enough immunity to prevent infections requiring medical intervention.

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Markets: The Dow wrapped up its best week since July as investors celebrated another rock-solid jobs report. The economy added 187,000 jobs in August, and the unemployment rate rose to 3.8% from 3.5%—signs that the labor market is cooling, but not so fast that it’s likely to spark a recession.

Here is where the major benchmarks ended:

  • The S&P 500 Index was up 8.11 points (0.2%) at 4,515.77; the Dow Jones Industrial Average (DJIA) was up 115.80 points (0.3%) at 34,837.71, up 1.4% for the week; the NASDAQ Composite (COMP) was down 3.15 points at 14,031.81, up 3.2% for the week.
  • The 10-year Treasury note yield (TNX) was up about 7 basis points at 4.177%.
  • CBOE’s Volatility Index (VIX) was down 0.49 at 13.08.

Financial companies were among the strongest performers Friday, with the KBW Regional Banking Index (KRX) gaining about 2.5% to a three-week high.

Energy shares were also strong as WTI crude oil futures extended gains after the Energy Information Administration earlier this week reported a larger-than-expected drop in U.S. inventories. Crude futures surged nearly 3% to ended near $86 a barrel, the highest since mid-November. Consumer staples and consumer discretionary were among the weakest performers.

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BITCOIN: ETF Ruling

Posted on August 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Bitcoin gets a boost from landmark ETF ruling

An appeals court said the SEC was wrong to reject an application from crypto investment firm Grayscale to create a spot bitcoin exchange-traded fund (ETF), sending the price of bitcoin up about 6.5%.

The slumbering crypto industry has been eagerly anticipating a spot bitcoin ETF (as opposed to existing crypto ETFs based on futures) because it could attract a torrent of cash and interest from individual investors. The SEC said it was reviewing the decision.

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Jobs and Inflation

Posted on August 28, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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  • Markets: Investors weren’t fazed by Jerome Powell’s warning in Jackson Hole that he could raise interest rates even more, sending the S&P 500 and NASDAQ to their first weekly gain in three weeks.
  • Bonds: But, all the chatter around higher rates has pushed US bond yields to decade-plus highs, which has typically been a drag on stocks.
  • Focus: Jerome Powell will again be poring over fresh inflation data (Thursday) and the August jobs report (Friday) to guide his next interest rate move. And we’re in stoppage time of earnings season, but a few companies, including Salesforce, Lululemon, and Dollar General, still have to report.

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HOUSING: Affordability Down

Posted on August 26, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Housing affordability Getting Worse

Surging bond yields are playing out in a bad way in the housing market, where the average mortgage rate in the US jumped to 7.09%, its highest level since 2002, per Freddie Mac. Combine those eye-watering borrowing costs with an inventory crunch that’s driven up prices, and you get the worst housing affordability conditions in four decades, Bloomberg reports.

Roughly 75% of US homeowners have mortgage rates of less than 4%, according to JPMorgan, so you can imagine why no one is eager to move and pay upward of 7% on a new place.

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SUBWAY: Private Equity

Posted on August 25, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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A private equity firm just ate Subway

More precisely, the families that founded the sandwich chain agreed to sell it to PE firm Roark Capital after seeking a buyer. The terms of the deal weren’t made public, but the Wall Street Journal previously reported that Roark offered ~$9.6 billion.

Subway, which has been losing market share to other sandwich chains, will be in good foodie company at Roark as it also owns Dunkin’, Jimmy John’s, Baskin-Robbins, Auntie Anne’s, Carvel, Cinnabon and other eateries.

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DAILY UPDATE: Mortgages Rates and the Markets are Up!

Posted on August 24, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Home Mortgage rates just hit their highest mark since 2002, making home ownership even less attainable to potential buyers. Stagnation in the housing market could also put a squeeze on consumer spending, slowing broader economic growth. The average 30-year fixed-rate mortgage, a popular home loan, hit 7.09% last Thursday, up from 6.96% the week before, according to mortgage behemoth the Federal Home Loan Mortgage Corporation (Freddie Mac).

In a statement tied to the release, Freddie Mac noted that the rise of the 10-year Treasury yield and the strength of the economy both contributed to the high rate.

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Here is where the major benchmarks ended:

  • The S&P 500® Index rose 49 points (1.1%) to 4,436.02; the Dow Jones Industrial Average (DJIA) rose 184 points (0.54%) to 34,472.98; the NASDAQ Composite (COMP) rose 215 points (1.59%) to 13,721.03.
  • The 10-year Treasury note yield (TNX) fell 15 basis points to 4.180%.
  • CBOE’s Volatility Index (VIX) fell roughly 1 point to 16.03.

Communication services—which is home to tech-adjacent companies such as Google parent Alphabet (GOOG), Facebook parent Meta (META), and Netflix (NFLX)—and technology were the top-performing sectors Wednesday.

Energy was the laggard, as crude oil futures slipped more than 1% to below $79.

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DICK’S is Down, etc!

Posted on August 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

BREAKING MORNING FINANCIAL NEWS

By Staff Reporters

Dick’s had its worst day ever. The sporting goods retailer lost nearly a quarter of its value after it warned that increased theft and slowing sales of outdoor gear would result in lower-than-expected profits for the rest of the year.

Meanwhile, Macy’s also posted a sad excuse for a quarter, reporting shrinking sales across the board and particularly dramatic declines in categories like active wear and casual apparel. Macy’s CEO said consumers are spending less on goods and more on experiences this summer

Finally, the Dow Jones futures edged higher this Wednesday morning, along with S&P 500 futures and NASDAQ futures. Toll Brothers and Urban Outfitters reported Tuesday night, with Foot Locker and Analog Devices big losers early Wednesday. Nvidia looms large after Wednesday’s close.

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COVID VACCINE NEWS: The Companies

Posted on August 22, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stocks started the week on an upswing as technology companies rallied—including Nvidia, whose earnings report investors eagerly await tomorrow—helping the NASDAQ snap a four-day losing streak.

But, a new Covid variants are helping to push up the value of companies that make vaccines. Novavax, Moderna, BioNTech, and Pfizer rose yesterday as fall is likely to bring demand for boosters.

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

And, Atlanta-based Morris Brown College has announced that the school is reinstating its Covid mask mandate for the next two weeks as a result of positive cases at the Atlanta University Center.

The historically black college posted a note on its official Instagram account noting that the protocols would be in effect for the next 14 days. This includes a requirement for mask-wearing by students and employees, physical distancing, contact tracing, and other significant efforts to reduce the spread of Covid-19 among the population on the Atlanta campus. 

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About Nvidia [+] and WeWork [-]

Posted on August 21, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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  • Markets: AI leader Nvidia’s earnings will be out on Wednesday, and Fed Chair Jerome Powell’s annual speech will be at the Fed conference in Jackson Hole on Friday.
  • Stock spotlight: WeWork, the co-working company just announced a 1-for-40 reverse stock split in an attempt to avoid getting de-listed from the New York Stock Exchange.

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RETAIL: Sales

Posted on August 18, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Stat: 0.7%. That’s how much retail sales grew last month, a sign that inflation isn’t dampening consumer spending or demand. (CNBC)

Quote: “This is pure market economics. We do not magically have thousands of additional AI developers, product managers, and everything else.”—Paul J. Groce, partner and head of the Americas at recruitment firm Leathwaite, on how a talent shortage is driving up wages for AI positions. (the Wall Street Journal)

Read: The teetering company threatening China’s economy. (the New York Times)

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INTEL: Intel Nixes $5.4 B Purchase of Tower Semiconductor

Posted on August 17, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Intel said yesterday it had agreed to ditch a deal to buy Israeli chip manufacturer Tower Semiconductor (and pay Tower a $353 million fee) after Chinese regulators failed to conduct a required antitrust review of the acquisition before a crucial deadline.

The scuttled purchase comes amid tension between the US and China over technology, especially chips, which the Biden administration has worked to restrict China’s access to them.

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HAPPY: Juvedérm Day!

Posted on August 16, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Allergan has branded today the first ever “Juvedérm Day,” named after its famous dermal filler.

AbbVie, which owns Allergan, reported that it made $368 million on Juvedérm in Q2 2023, up almost 7% compared to last year. AbbVie’s aesthetics business, which also produces Botox, made almost $1.4 billion in Q2.

Maybe AbbVie’s hoping that pushing Juvedérm sales will help make up for its dropping Humira sales.

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WEWORK: Maybe Not!

Posted on August 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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WeWork, the co-working company that was valued at $47 billion four years ago just warned that there was “substantial doubt about our ability to continue as a going concern,” which means it could soon file for bankruptcy.

The We Company filed its Form S-1 for the IPO in August 2019. The following month, facing mounting pressure from investors based on disclosures in the S-1, company co-founder Adam Neumann resigned from his position as CEO and gave up majority voting control. Amid growing investor concerns over its corporate governance, valuation, and outlook for the business, the company formally withdrew its S-1 filing and announced the postponing of its IPO. At that time, the reported public valuation of the company was US $10 billion, a reduction from the $47 billion valuation it had achieved in January and less than the $12.8 billion it had raised since 2010.

The gradual return-to-work movement has not benefited WeWork as much as it anticipated: Memberships declined last quarter, and the company posted a net loss of $397 million.

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MSNBC Contributor Says Mask-Up After Uptick in COVID-19 Hospitalizations

Posted on August 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

FOX News: A doctor appearing on MSNBC Tuesday said that Americans should start wearing masks for COVID again. Former Obama official and current MSNBC medical contributor Dr. Kavita Patel was brought on Jose Diaz-Balart Reports to discuss an uptick in COVID hospitalizations.

“If you’ve noticed more of your friends, neighbors, loved ones are testing positive for COVID, you’re not alone. According to the CDC, COVID-19 hospitalizations are up 12 percent from last week and, while we’re nowhere near previous levels, it’s still raising concerns,” Diaz-Balart said.

The number of COVID-19 hospitalizations is rising this summer in the U.S., according to the Centers for Disease Control and Prevention (CDC). More than 7,100 patients with COVID were hospitalized in the week of July 15, up from 6,444 the prior week, the sharpest percentage increase since December 2022.

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NIH: Jeanne Marrazzo MD Succeeds Dr. Anthony Fauci as Infectious Disease Chief

Posted on August 3, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Jeanne M. Marrazzo MD, a University of Alabama at Birmingham infectious-disease expert, will succeed Anthony S. Fauci this fall as director of the National Institute of Allergy and Infectious Diseases, federal officials announced yesterday.

The $6.3 billion research institute is among the largest of the 27 institutes and centers that constitute the National Institutes of Health, America’s flagship biomedical agency. NIAID is also particularly prominent given its involvement in the response to the coronavirus pandemic and other diseases; it has also received attention because of Dr. Tony Fauci’s own high profile and Republicans’ ongoing efforts to investigate the institute’s workings.

Marrazzo, an infectious-disease physician and epidemiologist who has been a principal investigator on NIH grants since 1997, has focused her research on the human microbiome and the prevention of HIV and infections in the female reproductive tract. She emerged as a frequent commentator during the pandemic, appearing on national television and urging Americans to get vaccinated and take other steps to protect themselves from the virus.

An openly gay physician, Marrazzo has studied barriers to care for LGBTQ patients and advocated to address them.

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US CREDIT: Rating Downgraded by Fitch

Posted on August 2, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

WARNING!

By Staff Reporters

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Fitch, the credit assessor knocked the US’ credit rating from the gold-standard AAA to AA+, citing the country’s growing debt burden and the “erosion of governance” (a reference to political standoffs over the debt ceiling).

LINK: https://www.fitchratings.com/

The last time the US received a credit downgrade was in 2011, when S&P sent it to AA+, causing market mayhem. Past and present US economic officials said Fitch was off its rocker for the decision. Former Treasury Secretary Larry Summers called it “bizarre and inept” given the current strength of the US economy.

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CMS: Proposes Fee Schedule Payment Cuts to Doctors

Posted on August 1, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

SPONSOR: http://www.CertifiedMedicalPlanner.org

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According to Paige Minemyer of Fierce Healthcare, the Joe Biden administration is proposing cuts to physician payments in its annual fee schedule, and doctors are not happy. Major industry groups have roundly called for Congress to step in to prevent the Medicare reimbursement changes from going through. Last week, the Centers for Medicare & Medicaid Services (CMS) proposed a 3.34% cut to the fee schedule’s conversion factor, which is used to calculate Medicare payouts to docs.

More: https://www.ama-assn.org/practice-management/medicare-medicaid/proposed-336-medicare-pay-cut-shows-why-overhaul-badly-needed

In a statement, the American Medical Group Association (AMGA) said that Medicare payments already fail to keep up with “the increasing cost of delivering healthcare,” and further cuts would only exacerbate that problem. “AMGA members cannot absorb this proposed payment cut,” said AMGA President and CEO Jerry Penso, MD.

BIO: https://www.amga.org/about-amga/amga-difference/board-of-directors/penso/

“Their expenses are continuing to increase, and Congress needs to act to ensure Medicare’s reimbursement reflects the cost of delivering high-quality care to patients.” 

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

Source: Paige Minemyer, Fierce Healthcare [7/17/23]

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GASOLINE: Prices Slowly Rising Again!

Posted on July 30, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The average price for a gallon of gasoline in the US just rose to an eight-month high of $3.71, as per AAA. While that’s far below last summer’s peak of $5.02 per gallon, gas prices have been creeping up due to refineries going offline unexpectedly and higher demand for oil at a time when supply isn’t there to meet it.

Bloomberg Opinion’s oil guru, Javier Blas, notes that global oil consumption has likely reached a record high.

LIFESTYLE: https://medicalexecutivepost.com/2022/09/28/my-jaguar-mechanic-vs-doctor-story/

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SPONSOR & ADVERTISE on the MEDICAL EXECUTIVE-POST

Posted on July 29, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

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Reach Industry Pros, Executives and Decision-Makers with Ease!

Thank you for your interest in advertising on, or sponsoring the ME-P, the web’s only site integrating medical practice management with personal financial planning for all industry professionals.

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Why should your company sponsor or advertise on the ME-P?

• Reader loyalty. Not only does the ME-P receive a mind-boggling number of page views and visits each month, its readers are loyal.
• Reader stature. ME-P readers are experienced industry pros, executives and decision-makers.
• Selective advertising. The ME-P is a free read that’s off the radar of the big-ad companies. Your ad here stands out as personal and different.
• Supporting the ME-P makes a big difference and costs only a fraction of other online publications with far fewer readers.
• Cost. CPM is reasonable and low compared to other sites.

E-mail us for a full packet, but give a look to these results from the ME-P’s annual reader survey:

* 89% of readers said the ME-P influences their perception of products and companies
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* 754% said the ME-P has some, a good bit, or a lot of industry influence

Contact me and I’ll e-mail you a rate card. Your support makes a difference!

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U.S. ECONOMY: “Soft Landing” Humming Along

Posted on July 28, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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US gross domestic product (GDP) increased at a more-than-expected 2.4% annualized rate last quarter thanks to healthy consumer spending and businesses shelling out on investments. The latest figures show that not only is the US economy not spiraling into a recession due to interest rate hikes, it’s actually getting stronger as the year goes on.

In fact, underlying inflation rose at its slowest pace in two years. This could be a sign of the “soft landing” that FOMC Chair Jerome Powell seeks.

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The European Central Bank also took it a cue from the FOMC and raised interest rates to a 23-year high. Investors think it could be the ECB’s last rate hike this cycle.

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But, according to CNN, Japan’s central bank kept interest rates unchanged today despite rising inflation but hinted that it could gradually abandon years of cheap money, sending the yen soaring and stocks tumbling. The Bank of Japan (BOJ) said it kept unchanged its short-term interest rate at minus 0.1% and maintained its target for the yield on 10-year government bond at around 0%.

But the central bank also said it would adopt a more flexible approach to controlling the yield on government bonds — which affects borrowing costs across the world’s third biggest economy,diluting a key pillar of its longstanding ultra-loose monetary policy.

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After a historic 13-day winning streak, the Dow—along with the other two major indexes—closed lower as its dizzying rise finally succumbed to gravity. There were some strong individual performances, however. Meta kept its impressive 2023 rolling after giving an optimistic earnings report.

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DAILY UPDATE: Dow Falls Down!

Posted on July 28, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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The Dow slipped on Thursday, snapping a 13-day winning streak. The blue-chip index fell 237 points after being on track to close higher for a 14th consecutive session. That would have marked the Dow’s longest run of consecutive gains since May 1897. If the Dow had closed higher Thursday and Friday, it would have notched 15 days of gains, its longest daily winning streak ever.

But the index’s run was at historic levels before it was cut short Thursday: On Wednesday it notched its 13th straight day of gains, its best winning streak since 1987 and its highest level since February 2022. The Dow, up roughly 6% for the year, has rallied in recent weeks as cooler-than-expected inflation data has investors more optimistic that a soft landing, or no recession, could be in the cards for the economy.

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Here is where the major benchmarks ended for the day:

  • The S&P 500 Index was down 29 points (0.64%) at 4,537.41; the Dow Jones Industrial Average was down 237 points (0.67%) at 35,282.72; the NASDAQ Composite (COMP) was down 77 points (0.55%) at 14,050.11.
  • The 10-year Treasury note yield (TNX) rose about 14 points 4.002%.
  • CBOE’s Volatility Index (VIX) dropped 5 points to at 13.32.

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