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DAILY UPDATE: Tenet, Rivian, Yen, Public Companies and the Light Stock Markets

Posted on June 28, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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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Stat: 40%. That’s how much Tenet Healthcare’s shares jumped in Q1. (Yahoo Finance)

Stat: 12%. This is how much the yen has weakened so far this year against the US dollar, which has people wondering whether the Japanese government will need to intervene. (Bloomberg)

Quote: “We believe the opportunity ahead is significant.”—RJ Scaringe, CEO and co-founder of Rivian, commenting on Volkswagen Group’s plans to invest as much as $5 billion in the EV company. (CNBC)

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

What’s up

McCormick & Co rose 4.34% after the company posted spicy earnings results, absolutely crushing estimates.
Arista Networks rose 3.92% after Citigroup reiterated its buy rating for the cloud company but increased its price target from $330 to $385.
BlackBerry is still a company, and rose 10.41% after a berry good first quarter.

What’s down

Walgreens Boots Alliance plummeted 22.16% due to a worse-than-expected earnings report that saw the company slash its full-year guidance.
Hims & Hers dropped 7.19% after Hunter Growth Capital accused the company of using a shady supplier for its new weight-loss drugs.
Levi Strauss crashed 15.27% in a denim downfall for the ages, with second quarter earnings missing expectations after consumers spent less on blue jeans.
Micron Technology slid 7.12% despite beating analyst expectations in the third quarter. Unfortunately, management isn’t as bullish as analysts about the rest of the year.
Chewy fell 0.03% despite a tweet from Roaring Kitty of a cartoon dog—which is apparently all it takes to move markets these days.

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

The U.S. government’s final gross domestic product (GDP) estimate announced early Thursday included a downward revision to quarterly consumer spending.

Treasury yields could move on the data, especially if the report is “hotter” than expected. Yields fell Thursday following mostly soft U.S. economic readings this morning.

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 4.97 points (0.1%) to 5,482.87; the Dow Jones Industrial Average^® ($DJI) rose 36.26 points (0.1%) to 39,164.06; the NASDAQ Composite^® ($COMP) rose 53.53 points (0.3%) to 17,858.68.
The 10-year Treasury note yield lost two basis points to 4.29%.
The CBOE Volatility Index^® (VIX) fell to 12.29, its lowest close since June 13.

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On Purchasing Individual BONDS!

Posted on June 27, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

A Seldom Discussed Investing Topics for Doctors and All Investors – Until Now?

By Dr. David Edward Marcinko MBA MEd CMP®

http://www.MarcinkoAssociates.com

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Now – Trading individual bonds is not like trading stocks. Stocks can be bought at uniform prices and are traded through exchanges. Most bonds trade over the counter, and individual brokers price them. But, price transparency has gotten better in the last decade.

For example, in 1999, the bond markets gained clearness from the House of Representatives’ Bond Price Competition Improvement Act of 1999. Responding to this pioneering law, the site http://www.investinginbonds.com was established. This site provides current prices on bonds that have traded more than four times the previous day. With the advent of Investinginbonds.com and real-time reporting of many trades, investors are much better off today. Many well regarded brokers including Schwab, Ameritrade, and Fidelity Investments now have dedicated websites devoted to bond trading and pricing.

Fidelity Investments chose to disclose its fee structure for all bonds, making it clear what it will cost you per trade. Fidelity charges $1 per bond trade. Some on-line brokers charge a ﬂat fee as well, ranging from $10.95 at Zions Direct to $45 at TD Ameritrade. Depending on the number of bonds trading, one may be more complimentary than another. The trading fee disclosures, however, do not divulge the spreads between the buy and sell price embedded in the transaction that some dealer is making in the channel. Keep in mind that only by comparison shopping can assist you in finding the best transaction price, after all fees are taken into account. Other sites may not charge any fee, but rather embed the profit in the spread.

Despite the difficulty in pricing and transparency, investing in individual bonds offers several rewards over purchasing bond mutual funds.

First, bond mutual funds never mature.

Second, you know exactly what you will be receiving in interest each year. You will also know the exact maturity date.

Furthermore, your individual investment is protected against interest rate risk, at least over the full term to maturity. Both individual bonds and bond funds share interest-rate risk (the risk of locking up an investment at a given rate, only to see rates rise). This pushes bond prices down. At least with an individual bond, you can re-invest it at the higher, market rate once the bond matures.

But, the lack of a fixed maturity date on a bond mutual fund causes an open ended problem; there is no promise of the original investment back. Short of default, an individual bond will return all principal and pay all interest assuming you hold it to maturity. Bond funds are not likely to default as most funds maintain positions in hundreds of individual bonds. The force of interest rate risk to individual bond or bond mutual fund prices depends on the maturity of a bond investment: the longer the maturity of a bond or bond fund (average), the more the price will drop due to rising rates. This is known as duration.

Duration is a statistical term that measures the price sensitivity to yield, is the primary measurement of a bond or bond fund’s sensitivity to interest rate changes. Duration indicates approximately how much the price of a bond or bond fund will adjust in the reverse direction given a rise in interest rates. For instance, an individual bond with an average duration of five years will fall in value approximately 5% if rates rise by 1% and the opposite is accurate as well.

Although stated in years, duration is not simply a gauge of time. Instead, duration signals how much the price of your bond investment is likely to oscillate when there is an up or down movement in interest rates. The higher the duration number, the more susceptible your bond investment will be to changes in interest rates. If you have money in a bond or bond fund that holds primarily long-term bonds, expect the value of that fund to decline, perhaps significantly, when interest rates rise. The higher a bond’s duration, the greater its sensitivity to interest rates alterations. This means fluctuations in price, whether positive or negative, will be more prominent.

For example, a bond fund with 10-year duration will diminish in value by 10 percent if interest rates increase by one percent. On the other hand, the bond fund will rise in value by 10 percent if interest rates descend by one percent. The important concept to remember is once you recognize a bond’s or bond fund’s duration, you can forecast how it will react to a change in interest rates.

UPDATE:

The yield on the 10-year Treasury note serves as a benchmark for interest rates across the US economy. Since bond prices and yields move in opposite directions, falling yields signal higher demand for Treasuries.

Why it matters: At the most basic level, the 10-year yield is a key indicator of investors’ confidence in future US economic growth. As the Delta variant spreads and threatens to slow the economic recovery, the fall in yields means investors are souring on a mega growth spurt and snapping up safer assets rather than riskier stocks.

What does this mean for inflation? Because investors sell bonds when they think inflation is coming, the runup in bond prices means the worst of Wall Street’s inflation concerns may be over. “It feels like we have moved from thinking inflation will be transitory, to fearing growth will be transitory,” Art Hogan, chief marketing strategist at National Securities, said.

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DAILY UPDATE: MSFT Teams, Deloitte, HealthcCare Cyber Attacks as Markets Lift

Posted on June 27, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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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The EU says Microsoft violated its antitrust laws by bundling Teams with Office, potentially setting the stage for a major fine.

And, Deloitte has billions of dollars’ worth of Medicaid contracts, but the consultancy’s eligibility systems are full of errors. (KFF Health News)

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 8.6 points (0.16%) to 5,477.9; the Dow Jones Industrial Average^® ($DJI) added 15.64 points (0.04%) to 39,127.8; the NASDAQ Composite^® ($COMP) climbed 87.5 points (0.49%) to 17,805.16.
The 10-year Treasury note yield rose 8 points to 4.32%.
The CBOE Volatility Index^® (VIX) eased to 12.5

What’s up

FedEx shipped 15.52% directly to your portfolio after beating fourth-quarter earnings expectations and guiding for higher-than-expected earnings in the coming fiscal year.
Grindr rose 15.22% after management raised their fiscal guidance at the company’s first-ever investor day.
Whirlpool popped 16.63% after reports emerged that it may be a takeover target for German engineering company Bosch.
Campbell Soup rose 3.28% thanks to an analyst upgrade from JPMorgan after the food company’s recent acquisition of Sovos Brands.
Vista Outdoor rose 9.09% after MNC Capital raised its bid to acquire the ammunition maker to $3.2 billion.

What’s down

General Mills dipped 4.58% thanks to a poor quarterly earnings report, with lower sales due to lower demand from consumers.
Paychex fell 6.11% despite beating earnings estimates this quarter. The problem is slower growth ahead due to small and mid-sized businesses struggling with high inflation.
Aptiv dropped 7.93% after news of the Rivian-Volkswagen deal prompted Piper Sandler analysts to downgrade the stock and lower their price target.

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The disastrous ransomware attacks on Change Healthcare and Ascension this year ran up staggering costs and put a spotlight on the healthcare sector’s vulnerability. But healthcare orgs are hardly new to eye-popping bills after a major hack. Analyzing attacks on organizations in 16 countries, IBM/Ponemon Institute has shown healthcare to be the industry with the highest cost per data breach for over a decade, coming in at an average hit of $10.93 million in 2023.

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DAILY UPDATE: Gun Violence, Health & Public Companies as Technology Stocks Rebound

Posted on June 26, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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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The U.S. surgeon general just declared gun violence a public health crisis, driven by the fast-growing number of injuries and deaths involving firearms in the country. The advisory issued by Dr. Vivek Murthy, the nation’s top doctor, came as the U.S. grappled with another summer weekend marked by mass shootings that left dozens of people dead or wounded.

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

Here’s where the major benchmarks ended:

The S&P 500 index rose 21.43 points (0.39%) to 5,469.30; the Dow Jones Industrial Average^® ($DJI) fell 299.05 points (0.76%) to 39,112.6; the NASDAQ Composite^® ($COMP) gained 220.84 points (1.26%) to 17,717.65.
The 10-year Treasury note yield (TNX) fell slightly to 4.24%.
The CBOE Volatility Index^® (VIX) dropped to 12.84.

What’s up

Nvidia rose 6.76% as investors realized they could buy shares of the world’s biggest semiconductor company at a discounted price.
Trump Media & Technology Group rose another 8.50% today on the hopes of a cash infusion, as well as hype ahead of Thursday’s presidential debate.
Carnival popped 8.85% after it beat analyst expectations for the second quarter, and raised its profit forecast for the rest of the year.
Novo Nordisk rose 3.25% after its weight-loss drug Wegovy was approved in China.
Enovix soared 35.05% on the news that it signed a major deal to provide VR headset batteries for an as-yet-unnamed California company.

What’s down

Pool Corp., maker of…pools, fell 8.04% today after cutting guidance for the year ahead.
SolarEdge Technologies dropped 20.60% through no fault of its own—instead, a key customer declared bankruptcy, and will be unable to pay the solar power company the $11.4 million it is owed.
Airbus fell 9.41% after the company announced it is cutting financial guidance for the remainder of 2024 thanks to supply chain snarls and higher costs.
Auto dealer stocks continue to suffer the effects of a massive cyberattack on CDK, a key supplier of dealership management software. The company says its systems will remain down until June 30, but in the meantime shares of Autonation fell 2.04%, Sonic Automotive dropped 2.56%, and Group 1 Automotive slid 2.49%.

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Digital health company Sharecare has agreed to be acquired by private equity firm Altaris for $1.43 in cash per share, or about $518 million.

Nearly three months after Kaiser Permanente’s Risant Health acquired Geisinger Health, the group has now agreed to terms with Cone Health in North Carolina.

And ... UnitedHealthcare says its Surest unit improves spending and utilization across all age groups and for people with various conditions.

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DAILY UPDATE: Dental Staffing, Various Companies & the Stock Markets

Posted on June 25, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Here’s where the major benchmarks ended:

The S&P 500 index lost 16.75 points (0.31%) to 5,447.87; the Dow Jones Industrial Average ($DJI) gained 260.88 points (0.67%) to 39,411.21; the NASDAQ Composite ($COMP) dropped 192.54 points (1.09%) to 17,496.82.
The 10-year Treasury note yield (TNX) fell one basis point to 4.25%.
The CBOE Volatility Index^® (VIX) ended slightly up at 13.47, the highest close since May 30.

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

What’s up

Trump Media & Technology Group soared 36.15% today after the company announced it expects to receive over $69.4 million from recently exercised stock warrants.
Target rose 2.44% on the news that it has teamed up with Shopify to allow vendors to sell on Target’s third-party website, Target Plus. Shopify shares fell 1.11%.
Affirm popped 12.82% after Goldman Sachs analysts initiated coverage of the buy now, pay later stock with a “buy” rating.
Alnylam Pharma popped 34.52% after trial results revealed its new drug to treat a rare form of heart disease cuts the risk of death and cardiovascular events by up to 33%.
RXO rose 23% after UPS agreed to sell its freight-brokerage business to the company for $1 billion.

What’s down

Nvidia dropped 6.68% as the semiconductor stock continues to fall, with the stock entering correction territory earlier today—a sentence we never thought we’d write.
Eli Lilly’s weight-loss drug Zepbound can also help people with sleep apnea, cutting into the sleep-aid market, sending shares of ResMed down 11.40% and Inspire Medical Systems down 16.45% on the news.
Bitcoin-connected stocks are taking a hit as the crypto selloff continues. Coinbase Global fell 6%, while MicroStrategy fell 7.52%.

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The dental industry—like other parts of healthcare—is facing significant staffing challenges. The US is in need of nearly 10,000 dental professionals and has more than 6,800 health professional shortage areas (HPSAs), which the US Department of Health and Human Services defines as “a geographic area, population, or facility with a shortage of primary care, dental, or mental health providers and services.”

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DAILY UPDATE: Genome Testing, the Stock Markets and Microsoft, Apple & Meta

Posted on June 24, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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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Apple and Meta are considering an AI partnership. The two tech giants are discussing integrating Meta’s generative AI model into Apple’s new AI platform, Apple Intelligence, the WSJ reports. Instead of building an in-house AI model, Apple opted for the partnership route and previously announced a deal with OpenAI to bring ChatGPT to iPhones. Apple has also reportedly held talks with AI startups Anthropic and Perplexity to fuse their AI models with Apple Intelligence and get that sweet, sweet distribution Apple provides.

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Genome testing can spot rare disease risks at birth. Newborn babies typically get blood tested for dozens of diseases, but some parents living in North Carolina and New York have recently been able to get their bundles of joy screened for hundreds of potentially life-threatening medical conditions that regular tests can’t catch thanks to a growing field called genomic medicine. Early results from two ongoing studies are very promising, the Washington Post reported, but scaling the new type of testing could be tricky: A full genome read (which covers all of your DNA) costs around $1,000 per patient. Still, research into the cost-benefit of genome sequencing has found that it can ultimately save families money on hospital care.

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Markets: Sweating the upcoming election? Investors aren’t. The S&P 500 is on track for its best first-half performance in an election year going back to 1976, per Dow Jones Market Data. And as trading begins Monday morning, Microsoft is back on the Iron Throne as the US’ most valuable company following Nvidia’s stumbles at the end of last week.

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BANKS: Eight Types; plus 1

Posted on June 24, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

DOCTORS NEED TO KNOW

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By Dr. David Edward Marcinko MBA MEd CMP™

A general understanding of these bank types is suggested for any medical professional prior to launching a self-directed [ME, Inc] medical practice, clinic, guided investment strategy, personal financial plan or wealth building portfolio effort; etc.

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DAILY UPDATE: Reverse Aging, Credit Card Competition Act, Nvidia and a Market Re-Cap

Posted on June 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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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The de-aging biz: Time to pull back the hospital curtain and see who’s behind the booming longevity market. This article, sponsored by Timeline, lays out who’s making $$$ on “reverse aging.*

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

The S&P 500 and NASDAQ have often outperformed the Dow in recent years thanks to their focus on tech, as well as their market-cap weighting vs the Dow’s price weighting. When tech stocks roar higher, the younger indexes rise above their older peer—but the last few days have seen a sell off of tech stocks led by NVIDIA, bringing the S&P 500 and NASDAQ lower to end the week while the Dow has continued to rise.
Bonds remained unchanged for most of the day, ending the trading session flat as investors parse through a week of economic data and prepare for next week’s PCE report.
Gold plunged after the dollar rose, making it more expensive for gold bugs to hold the precious metal.
As for oil, read on to learn why crude has high hopes today but may not be a smart investment tomorrow.

Nvidia faltered for the second day in a row, falling off the world’s most valuable company perch and shedding $220+ billion in market cap. But the S&P 500 has gone 377 days without a 2.05% sell-off, the longest streak since the 2008 financial crisis, per CNBC.

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The Credit Card Competition Act is proposed legislation in Congress that could fundamentally change credit card systems. If passed, it could devastate the future of cash-back and travel rewards.

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DAILY UPDATE: Amazon Pharmacy, Healthcare Spending Boom, Companies and the Bi-Hybrid Markets

Posted on June 22, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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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Amazon Pharmacy announced on June 18 that, effective immediately, its RxPass medication delivery service will be available to more than 50 million Medicare beneficiaries, a move the company says could save up to $2 billion annually for the federal health insurance program.

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Here’s where the major benchmarks ended:

The S&P 500 index fell 8.55 points (0.2%) to 5,464.62, up 0.6% for the week; the Dow Jones Industrial Average^® ($DJI) gained 15.57 points (0.04%) to 39,150.33, up 1.5% for the week; the NASDAQ Composite^® ($COMP) shed 32.23 points (0.2%) to 17,689.36, little changed for the week.
The 10-year Treasury note yield (TNX) was little changed at 4.255%.
The CBOE Volatility Index^® (VIX) dipped 0.06 to 13.22.

What’s up

Sarepta Therapeutics soared 30.14% thanks to FDA approval of Elevidys, its new Duchenne muscular dystrophy treatment.
Zealand Pharma rose 18.62% after Phase 1b trial results revealed its new weight-loss drug could compete with Ozempic.
Asana jumped 14.95% on the news that its board has approved a share repurchase program of up to $150 million of its own stock.
CarMax shares rose 0.37% after the company reported first-quarter earnings. The number isn’t big, but the performance is impressive considering the used car company posted a 33% decline in profits.
Hertz Global popped 15.95% after the company announced it was raising the size of its bond offering to $1 billion as it looks to update its fleet of rental cars.

What’s down

Nvidia fell another 3.22% today as the sell off continued, with investors taking profits after a record run higher.
Smith & Wesson Brands dropped 12.87% after the gun maker beat earnings forecasts but announced that next quarter’s sales will be lower than expected.
LendingTree slid 2.48% after a Bloomberg report revealed that hackers are auctioning off stolen customer data.
Palantir fell 6.78% after the company earned an analyst downgrade for its “gluttonous valuation,” a phrase you never want to hear as an investor.
Bitcoin mining stocks took a hit today, selling off after popping higher yesterday after bitcoin prices rallied. Marathon Digital Holdings dropped 7.02%, Riot Platforms fell 8.35%, and CleanSpark sank 9.81%.

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

With a record number of people insured and seeking healthcare services post-pandemic, US health spend growth is outpacing GDP growth, and is expected to keep doing so through 2032, according to a June 12 report from actuaries at the Centers for Medicare and Medicaid Services (CMS). By 2032, CMS actuaries project healthcare spending will total $7.7 trillion and make up 19.7% of total US GDP, compared to $4.8 trillion and 17.6% of GDP in 2023.

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MEDICAL ETHICS: Managing Risk is a Component of Real Health Caring

Posted on June 22, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

Demanding High Moral Standards of Self … and Economic HEALTHCARE Organizations

Dr. David Edward Marcinko MBA MEd CMP®

SPONSOR: http://www.CertifiedMedicalPlanner.org

It has been argued that physicians have abdicated the “moral high ground” in health care by their interest in seeking protection for their high incomes, their highly publicized self-referral arrangements, and their historical opposition toward reform efforts that jeopardized their clinical autonomy.

Experts Speak

In his book Medicine at the Crossroads, colleague and Emory University professor Melvin Konnor, MD noted that “throughout its history, organized medicine has represented, first and foremost, the pecuniary interests of doctors.” He lays significant blame for the present problems in health care at the doorstep of both insurers and doctors, stating that “the system’s ills are pervasive and all its participants are responsible.”

In order to reclaim their once esteemed moral position, physicians must actively reaffirm their commitment to the highest standards of the medical profession and call on other participants in the health care delivery system also to elevate their values and standards to the highest level.

Evolution

In the evolutionary shifts in models for care, physicians have been asked to embrace business values of efficiency and cost effectiveness, sometimes at the expense of their professional judgment and personal values. While some of these changes have been inevitable as our society sought to rein in out-of-control costs, it is not unreasonable for physicians to call on payers, regulators and other parties to the health care delivery system to raise their ethical bar.

Harvard University physician-ethicist Linda Emmanuel noted that “health professionals are now accountable to business values (such as efficiency and cost effectiveness), so business persons should be accountable to professional values including kindness and compassion.”

Within the framework of ethical principles, John La Puma, M.D., wrote in Managed Care Ethics, that “business’s ethical obligations are integrity and honesty. Medicine’s are those plus altruism, beneficence, non-maleficence, respect, and fairness.”

Incumbent in these activities is the expectation that the forces that control our health care delivery system, the payers, the regulators, and the providers will reach out to the larger community, working to eliminate the inequities that have left so many Americans with limited access to even basic health care.

Charles Dougherty clarified this obligation in Back to Reform, when he noted that “behind the daunting social reality stands a simple moral value that motivates the entire enterprise”.

ASSESSMENT

Health care is indeed grounded in caring. And, managing risk is a component of caring. It arises from a sympathetic response to the suffering of others.

YOUR THOUGHTS ARE APPRECIATED

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Risk Management, Liability Insurance, and Asset Protection Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

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DAILY UPDATE: Bilt, Mortgage Rates, Private Equity in Behavioral Health and the Stock Markets

Posted on June 21, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Wells Fargo is losing $10 million per month on its partnership with Bilt, whose credit card offers users reward points for paying rent, and is looking to renegotiate, the WSJ reports. Apple has stopped offering its buy now, pay later program, Apple Pay Later, after partnering with outside companies, including Affirm.

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

Private equity (PE) is all over healthcare, with investment firms owning more than 400 hospitals around the US. But as the country faces a mental health crisis—US Surgeon General Vivek Murthy called it the “the defining public health crisis of our time”—PE has its sights set on one of the fastest-growing areas of the industry: behavioral health care. PE has accounted for over 60% of all behavioral health deal flow since 2018, and firms like Thurston Group and Five Points Capital now own about a quarter of facilities offering behavioral health care in some states, according to a recent cross-sectional study published in JAMA Psychiatry.

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

U.S. markets were closed Wednesday for the Juneteenth holiday. Here’s where the major benchmarks ended:

The S&P 500 index fell 13.86 points (0.3%) to 5,473.17; the Dow Jones Industrial Average^® ($DJI) gained 299.90 points (0.8%) to 39,134.76; the NASDAQ Composite^® ($COMP) dropped 140.64 points (0.8%) to 17,721.59.
The 10-year Treasury note yield (TNX) climbed about 4 basis points to 4.257%.
The CBOE Volatility Index^® (VIX) rose 0.80 to 13.28.

What’s up

Gilead jumped 8.46% after clinical data revealed that its new twice-a-year shot prevents 100% of HIV cases.
Penn Entertainment rose 9.93% on the news that Boyd Gaming has approached its competitor with an acquisition offer.
Accenture rose 7.30% after the IT consulting company missed earnings estimates but more than made up for it with bullish bookings data thanks to AI.
Darden Restaurants rose 1.53% after a mixed earnings report. Its acquisition of Ruth’s Chris Steak House propped up earnings, while Olive Garden’s same-store sales came in flat, probably because I eat several hundred free breadsticks there every month.

What’s down

Trump Media & Technology Group fell 14.56% after the SEC ruled that early shareholders can resell their stock in the company, diluting new shareholders—though providing upward of $247 million in funding for the beleaguered company.
Nikola plummeted 31.46% after the company announced a 1-for-30 stock split in a bid to stay listed on the Nasdaq.
Kroger fell 3.27% despite beating analyst revenue estimates in its fiscal first quarter as investors digest the chances of the company sealing a deal to buy Albertsons.
Tempest Therapeutics dropped 29.47% upon the release of the latest trial data for its liver cancer treatment.
Jabil fell 11.45% today after the electronics supplier beat earnings estimates but warned of softer growth in the year ahead.

Mortgage rates fell below 7% last week to their lowest level since March, but this didn’t spur much extra demand.

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Whither the CERTIFIED MEDICAL PLANNER™ Marks?

Posted on June 20, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

Wither the CERTIFIED MEDICAL PLANNER™ Professional Certification?

DEAR INVESTMENT ADVISORS, CPAs, FINANCIAL PLANNERS, FINANCIAL ADVISORS & INSURANCE AGENTS

We believe that:

If you do not have a market niche; you are not deeply informed
If you are not deeply informed; you can’t different yourself
If you can’t differentiate yourself; you can’t differentiate price
If you can’t differentiate price; you have no market power
If you have no market power; you have no unique knowledge
If you have no unique knowledge; you have fewer profits

If you have fewer profits; you are not likely a CMP™

PROGRAM CURRICULUM: Enter the CMPs

Dean Gene Schmuckler PhD MBA MEd CTS
http://www.CertifiedMedicalPlanner.org

THANK YOU

***

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DAILY UPDATE: Wells Fargo, Public Companies as Stock Markets Extend Rally

Posted on June 19, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Here’s where the major benchmarks ended:

The S&P 500 index gained 13.80 points (0.3%) to 5,487.03; the Dow Jones Industrial Average^® ($DJI) added 56.76 points (0.2%) to 38,834.86; the NASDAQ Composite^® ($COMP) rose 5.21 points (0.03%) to 17,862.23, a record close for the seventh day in a row.
The 10-year Treasury note yield (TNX) dipped more than 6 basis points to 4.215%.
The CBOE Volatility Index^® (VIX) fell 0.45 to 12.30.

What’s up

La-Z-Boy, your dad’s favorite recliner/stock, rose 19.39% after beating analyst expectations in the fourth quarter and issuing upbeat guidance for the year.
Dell rose 5.13% a day after Morgan Stanley analysts named the company one of their top stock picks thanks to its focus on servers powering AI.
Silk Road Medical exploded 24.04% higher upon the announcement that it will be acquired by Boston Scientific for $27.50 per share.
Chegg popped 3.26% after announcing a restructuring plan that will see the online learning platform cut 23% of its global workforce.
Nvidia only rose 3.51% today, but it was enough to push the semiconductor company’s market cap above Microsoft’s, making it the most valuable public company in the world.

What’s down

Aerovate Therapeutics dropped another 14.55% today, a day after the company announced a failure in the phase 2 trial of its new blood pressure medication.
Lennar sank 4.96% after announcing lower-than-expected home deliveries last quarter in yet another sign that the housing market is in the dumps.
NextEra Energy fell 2.54% due to the company’s announcement it will issue $2 billion worth of new shares.
Zentalis Pharmaceuticals plummeted 50.66% after it halted clinical trials of cancer treatments due to two deaths among patients being studied.

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And … precision medicine company Tempus AI is going public, raising $410.7 million through its initial public offering.

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Guidelines for Using an Equity Analyst’s Report

Posted on June 17, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

Trusting and Testing Fundamental Research

By Dr. David Edward Marcinko; MBA, MEd, CMP™

[Publisher-in-Chief]

It is not unreasonable to doubt the research of some security analysts; as evidenced by Wall Street’s recent upward implosion.

And so, trust but verify with your on research is always a good idea for the physician or lay investor in 2024.

25 Questions to Ask and Answer

Now, as a former financial planner, and professional investment advisor, please allow me to suggest the following before purchasing any equity:

How recent is the stock price on the report? If it is not recent, what is the current price? What is the current price relative to the 52-week high and low?
What is the P/E on trailing earnings per share? What is the stock’s projected price, based on estimated earnings for the periods shown?
What is the cash flow per share and the price-to-cash-flow ratio?
What is the book value? Price to book?
What is the trading volume relative to the number of shares outstanding?
How many shares are outstanding? What is the market capitalization based on current stock price and current shares outstanding? Is it a small, medium, or large-cap company?
Is the number of shares on a fully diluted basis shown? Is the fully diluted P/E shown? If there is a significant difference, read the report to find out where the extra shares will come from (convertible stock, a new or re-issue) and what the likelihood is that a conversion or a new issue or re-issue will occur.
What is the company’s earnings growth history? Is it a growth company or a cyclical company?
Does the company pay a dividend? If so, what is the dividend history and the payout ratio?
What is the debt-to-equity ratio? What kind of debt is it (publicly owned bonds, loans, etc.), and when does it have to be paid? What is the annual interest expense?
What are the cash ratios? Can the company cover its current liabilities easily? What is the ratio of annual earnings to interest expense?
What business is the company in? Are there comparisons to other companies in the same business? Are they similar in size? What is the outlook for the industry?
What is the company’s share of the market for its product? Does it have a particular niche? Does it have patents or protected rights on a special product? When do they expire?
How do the company’s financial ratios compare to those of other companies in its industry? How do the company’s ratios compare to those of the market as a whole or to narrower industry indexes?
Who are the company’s competitors? What advantages does the company have over its competitors?
How old is the company? How long has it been public? How long has the current management been running it? Who is the current management, and have there been significant management changes in the recent past?
How much of the company’s stock is owned by management? How much is owned by large institutional investors?
What kind of labor force does the company rely on? Where is it located?
Who are the company’s major customers? Is one customer very important?
Who are the company’s major suppliers? Is the company very dependent on one supplier?
How is the product distributed? Are there important relationships with distributors? How many different distributors are there?
What are the profit margins of the company? Where do they come from (incremental sales over break-even, or are they directly related to sales, no matter what level)?
What is the inventory turnover? Is there a lot of old, highly valued (on-the-books) inventory?
What is the history of sales revenue growth? What is the history of product mix in sales revenue?
Did the company issuing the research report also serve as investment banker?

Assessment

What did we miss – please advise?

Conclusion

And so, your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, be sure to subscribe to the ME-P. It is fast, free and secure.

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Filed under: Financial Planning, iMBA, Inc., Investing, Marcinko Associates, Portfolio Management | Tagged: cyclical stock, david marcinko, debt to equity ratio, fundamental equity analysis, fundamental stock analysis, growth stock, PE ratio, price to cash flow ratio, www.healthcarefinancials.com | 4 Comments »

The Diderot Effect?

Posted on June 17, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

What is it?

[By staff reporters]

The Diderot Effect is a social phenomenon related to consumer goods. It is based on two ideas.

The first idea is that goods purchased by consumers will align with their sense of identity, and, as a result, will complement one another.

The second idea states that the introduction of a new possession that deviates from the consumer’s current complementary goods can result in a process of spiraling consumption.

The term was coined by anthropologist and scholar of consumption patterns Grant McCracken in 1988, and is named after the French philosopher Denis Diderot, who first described the effect in an essay.

MORE: https://medicalexecutivepost.com/2021/01/25/the-prosperity-paradox/

Assessment

Your thoughts are appreciated.

Thank You

***

Filed under: Glossary Terms, Health Economics, iMBA, Inc. | Tagged: Diderot Effect, Thorstein Veblen, Veblen’s Theory | Leave a comment »

DAILY UPDATE: Father’s Day, Medical Debt and USAA

Posted on June 16, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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HAPPY FATHER’S DAY

News 4 in San Antonio Texas organized a video call with several USAA members who lost funds due to fraud — and have been left with little to no recourse. Some of them also belong to the Facebook group, USAA Fraud and Victims, which has 2,900 members. A few USAA members even reported being asked by the institution to cover the negative balances on their accounts after their money was stolen.

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

The race to a $3 trillion market cap seemed like it would always be between Apple and Microsoft. But over the last twelve months, Nvidia has come roaring to the front of the pack, neck and neck with the big tech incumbents. In the last two weeks alone it has replaced Apple in the #2 spot, only to be supplanted earlier this week when Apple’s AI plans propelled it back ahead. Now, it’s anybody’s race to the next big benchmark: a $4 trillion market cap.

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In a move that could be good for patients but bad for hospitals, the Consumer Financial Protection Bureau (CFPB) on Tuesday proposed regulation that would wipe medical debt from many consumers’ credit reports. The rule is meant to help the 15 million people in the US who creditors say still have a combined $49 billion of medical debt that negatively affects their credit scores, Rohit Chopra, director of the CFPB, said during a June 11 press briefing. About 100 million people in the US have some amount of medical debt, which totals roughly $220 billion, according to data from the Peterson-KFF Health System Tracker. The proposed regulation comes after three credit-reporting conglomerates—Equifax, Experian, and TransUnion—removed paid-off medical debt and medical debts under $500 from credit reports in 2022 and 2023, respectively.

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DAILY UPDATE: Sat Healthcare Private Equity, Elder Abuse Awareness Day

Posted on June 15, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

***

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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***

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Quote: “When private equity gets hold of healthcare systems, it is literally a matter of life and death, so if you drive a hospital like Steward into bankruptcy, putting patients and communities at risk, you should face real consequences.”—Sen. Elizabeth Warren on a proposed federal bill to impose jail time on executives who “loot” health systems, leading to patient harm (Fierce Healthcare)

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

Here’s where the major benchmarks ended:

The S&P 500 index fell 2.14 points (0.04%) to 5,431.60, up 1.6% for the week; the Dow Jones Industrial Average^® ($DJI) lost 57.94 points (0.2%) to 38,589.16, down 0.5% for the week; the NASDAQ Composite gained 21.32 points (0.1%) to 17,688.88, up 3.2% for the week.
The 10-year Treasury note yield (TNX) fell more than 2 basis points to 4.215%, after earlier dropping under 4.19%, its lowest since late March.
The CBOE Volatility Index^® (VIX) rose 0.72 to 12.66.

What’s up

Adobe soared 14.51% today after crushing analyst expectations when it announced earnings late yesterday.
Shopify rose 4.59% after it received yet another analyst upgrade. JPMorgan analysts gave the stock an overweight rating on June 11, while today Evercore analysts upgraded the company to outperform.
Hasbro popped 6% after the toy maker earned an upgrade to “buy” from Bank of America predicated on the company’s digital gaming strategy.

What’s down

Cruise stocks took a major blow today after a Bank of America report revealed that there was softer-than-expected pricing across the industry in May. Carnival fell 7.09%, Norwegian Cruise Line dropped 7.43%, and Royal Caribbean fell 4.35%.
RH plummeted 17% after the furniture maker reported a larger-than-expected loss in the previous quarter.
Stellantis fell 4.08% after the company’s CEO announced it will cut costs to compete with Chinese EV makers.
Penn Entertainment sank 8.66% on the news that competitor Boyd Gaming has voted in an M&A expert to its board of directors, which, combined with activist investors pushing Penn to put itself up for sale, could indicate an acquisition ahead.

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

June 15th marks an important day on our calendar – Elder Abuse Awareness Day. It is a day for communities worldwide to unite in bringing attention to the challenges and difficulties faced by elders and our collective responsibility to protect and support them.

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DAILY UPDATE: Flag Day, KKR, Wells Fargo and the S&P 500

Posted on June 14, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

***

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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HAPPY FLAG DAY

***

Wells Fargo found that some of its employees were pretending to work — and sent them packing. More than a dozen employees in the bank’s wealth and investment management divisions were discharged last month “after review of allegations involving simulation of keyboard activity creating impression of active work,” Bloomberg reported citing disclosures filed with the Financial Industry Regulatory Authority (FINRA).

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Here’s where the major benchmarks ended:

The S&P 500 index gained 12.71 points (0.2%) to 5,433.74; the Dow Jones Industrial Average lost 65.11 points (0.2%) to 38,647.10; the NASDAQ Composite rose 59.12 points (0.3%) to 17,66756.
The 10-year Treasury note yield (TNX) fell about 5 basis points to 4.246%.
The CBOE Volatility Index^® (VIX) declined 0.10 to 11.94.

What’s up

Broadcom rose 12.27% to a new all-time high after a great quarterly earnings report and the announcement of a 10-for-1 stock split.
Super Micro Computer popped 12.44% as it rode AI hype and Broadcom’s coattails higher today.
GameStop rose 14.18% after Keith Gill, aka Roaring Kitty, seemingly closed out a large chunk of his options position in the stock. Oh, and the company’s servers crashed during its shareholder meeting today due to overwhelming interest.
John Wiley & Sons rose 12.11% after the publisher of the beloved For Dummies book series announced it’s using its content to train AI models. Is there nothing AI can’t do???

What’s down

Virgin Galactic fell 14.28% after the company announced a 1-for-20 reverse stock split, a necessary evil in order to remain listed on the NYSE.
Warner Bros Discovery sank 6.66% after the company announced a deal to sell its shares of the Formula E racing series to Liberty Global.
Signet Jewelers plunged 14.93% after the company announced lower-than-expected sales and earnings last quarter.
Sirius XM fell 3.61% on speculation that the once-hot stock could be cut from the Nasdaq 100 in an upcoming rebalancing.
Dave & Busters Entertainment slumped 10.94% after it missed on top and bottom line earnings expectations this quarter. No word yet if gambling on skee ball games with your buddies can save the company.

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

On Monday, private equity giant KKR jumped 12% after S&P Dow Jones Indices announced the company would be joining the index yesterday, along with CrowdStrike and GoDaddy, which saw their stocks jump 9% and 2%, respectively. The additions will be incorporated June 24.

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FLAG DAY: June 14, 2024 Historical Review

Posted on June 14, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

DID YOU KNOW?

DR. KENT MERCADO JD

***

Flag Day in the United States is a commemoration of the American flag, observed on June 14th each year, which marks the anniversary of the flag’s official adoption. The Continental Congress designated the “Stars and Stripes” as the official American flag on June 14, 1777, during the Revolutionary War. Prior to this, various flags with different symbols and slogans represented different colonies or interests.

The adoption of the American flag became necessary with the Declaration of Independence. The Flag Resolution of 1777, enacted on June 14th, specified that the flag would consist of thirteen alternating red and white stripes, representing the original thirteen colonies, with a union of thirteen white stars on a blue field. The official announcement of the new flag was made on September 3rd, 1777.

Here are some other flag facts:

The current design is the 27th iteration of the flag and the longest-used design, since the US hasn’t added a new state since 1959 (plus the 51st star would mess up the symmetry).
Last year, four senators introduced the All-American Flag Act to require the federal government to exclusively buy American flags made in the USA. As of 2017, the US imported 10 million American flags from abroad, 99.5% of which were made in China.

While there is no conclusive proof, it is widely believed that Betsy Ross, a seamstress from Philadelphia, played a role in creating the first American flag.

***

UNITED STATES OF AMERICA

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DAILY UPDATE: Moody, CME Fedwatch and Ever Rising Stock Markets

Posted on June 13, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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On Monday, private equity giant KKR jumped 12% after S&P Dow Jones Indices announced the company would be joining the index on Friday, along with CrowdStrike and GoDaddy, which saw their stocks jump 9% and 2%, respectively. The additions will be incorporated June 24.

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

Stat: 99.4%. That’s the likelihood that interest rates will stay the same after the Fed’s meeting, according to the CME Fedwatch Tool. So it looks to be more “hurry up and wait” for interest rates to start coming down. 🫤 (Business Insider)

Quote: “It’s hard to think of a time when the US economy has diverged so fundamentally from its peers.”—Mark Zandi, chief economist at Moody’s Analytics, on the strength of the US economy compared to the weakness of other major economies. The US economy is continuing to grow while economies like Germany, Japan, and Canada are falling into recession. (The Atlantic)

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Here’s where the major benchmarks ended:

The S&P 500 index rose 45.71 points (0.9%) to 5,421.03; the Dow Jones Industrial Average lost 35.21 points (0.1%) to 38,712.21; the NASDAQ Composite gained 264.89 points (1.5%) to 17,608.44.
The 10-year Treasury note yield (TNX) fell more than 7 basis points to 4.326%.
The CBOE Volatility Index^® (VIX) declined 0.81 to 12.04.

What’s up

Oracle shot up 13.25% to new all-time highs after announcing so-so earnings but highlighting new deals with Microsoft, Google, and OpenAI.
Apple rose 2.86% today, continuing its surge higher after WWDC announcements highlighting its AI game plan. The company briefly surpassed Microsoft as the largest publicly traded company in the US by market cap.
Builders FirstSource rose 5.35% on investor hopes of interest rate cuts coming sooner rather than later, which would heat up the housing market and help the building materials supplier’s business. PulteGroup rose 4.01% for the same reasons.
Casey’s General Stores rose 16.72% to a new all-time high after the company reported shockingly strong fourth-quarter results.
Rentokil Initial rose 13.71% after activist investor Nelson Peltz announced a large position in the British pest control company.

What’s down

GameStop fell 16.50% after short-seller Citron announced it had abandoned its short position in the stock. The company also raised over $2 billion in a stock sale that capitalized on the latest meme madness.
Rubrik dropped 8.91% after the company announced its first quarterly earnings since going public. The weird part? They beat analyst estimates.
Vera Bradley sank 17.16% after a poor first-quarter earnings report revealed a surprise loss.
Exelon fell 4.03% after Maryland regulators largely rejected a proposal to hike customer rates.

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DAILY UPDATE: Tele-Health, Fortune 500, Companies and the Stocks Markets

Posted on June 11, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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The end has come for the Covid-19-era federal Affordable Connectivity Program, which some critics say will make telehealth access challenging for millions in rural and tribal areas. (NPR/KFF Health News)

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

Here’s where the major benchmarks ended yesterday:

The S&P 500 index rose 13.80 points (0.3%) to 5,360.79; the Dow Jones Industrial Average^® ($DJI) gained 69.05 points (0.2%) to 38,868.04; the NASDAQ Composite added 59.40 points (0.4%) to 17,192.53.
The 10-year Treasury note yield (TNX) rose almost 4 basis points to 4.467%.
The CBOE Volatility Index^® (VIX) rose 0.52 to 12.74.

What’s up

Diamond Offshore Drilling rose 10.91% after fellow offshore drilling company Noble Corp. announced it would acquire Diamond in a cash and stock deal worth $1.6 billion total. Noble shares rose 6.08% on the news as well.
Crowdstrike, GoDaddy, and KKR will be added to the S&P 500 when the index rebalances at the end of the quarter. Crowdstrike rose 7.29%, GoDaddy rose 1.94%, and KKR was up 11.22% on the news.
Texas Pacific Land Corporation shares also rose 24.57% on the news that the company will be inducted into the S&P MidCap 400.

What’s down

Advanced Micro Devices fell 4.49% after Morgan Stanley analysts issued a rare downgrade for an AI-related stock.
Moderna shares dropped 1.60% today, as its recent selloff continues despite the news that its combination Covid/flu vaccine is more effective than expected.
GameStop shares fell 12.04% today, after plummeting about 40% last Friday when the company announced earnings early and hundreds of thousands of people watched Roaring Kitty ramble about the stock.
Trump Media & Technology Group fell 5.61% after the company filed an amended S-1 with the SEC to sell shares.
French stocks sagged today on the news that pressure from the far-right opposition party have forced a snap national parliamentary election on June 30. Societe Generale fell 7.46%, and BNP Paribas fell 4.76%.

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Stat: 42. That’s how many healthcare industry companies were named on the latest Fortune 500, which lists the largest corporations in the US based on revenue for fiscal year 2023. (Advisory Board)

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DAILY UPDATE: Markets, Cue Health Down, Blue Kansas Part C and the FOMC

Posted on June 10, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Markets: Stocks dropped ever so slightly to end last week as investors tried to make sense of the big jobs report. Lots of jobs = good, but lots of jobs also = interest rates likely staying the same for awhile longer (more below). AMC had a rough day, tumbling 15% as the latest meme stock craze started to fizzle.

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Blue Kansas City Exiting MA Market by 2025 Due to ‘Regulatory Demands’

Blue Cross and Blue Shield of Kansas City (Blue KC) is leaving the Medicare Advantage (MA) market at the end of 2024, the insurer announced recently. The company blamed “heightened regulatory demands and rising market and financial pressures” for the decision but said it is still focused on employer-sponsored health plans, and Medicare supplement and Affordable Care Act plans in the state.

“We explored every alternative path for our MA members and are disappointed we must exit this line of business,” said Erin Stucky, Blue KC President and CEO, in a statement. “We value our MA members and are committed to providing uninterrupted, quality service to our current MA membership through the end of 2024.”

Source: Noah Tong, Fierce Healthcare [6/3/24]

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Cue Health, founded in 2010, started with great hopes as it promised a way to accurately test for Covid-19 without needing a lab. “We designed and developed a new molecular testing platform bringing lab complexity to an easy-to-use, portable device. Now you can get the best of lab molecular testing — speed, accuracy, and versatility – at home, the office, or on the go,” the company shared on its website. The company went public (with the ticker (HLTH) ) in 2021 at $16 and rose to $20.55 and carried that massive $2.3 billion valuation. Through 2023 and into this year, Cue unsuccessfully tried to shore up operations, get new products to market, and find new capital.

In May, however, the FDA advised customers not to use two of its products at all because they did not deliver accurate results. Finally, its board and executives threw in the towel. On May 28th, the company announced it was ceasing operations and filed for bankruptcy in Delaware’s U.S. Bankruptcy Court. The company’s assets will be sold off at an undetermined date, and the proceeds will be distributed to creditors.

***

Inflation data from the Fed meeting on Wednesday: Inflation data for May arrives in the morning, and it’s expected to show price growth held steady at 3.4% annually. In the afternoon, the FOMC will wrap up its meeting with a Jerome Powell press conference. The Fed is pretty much a lock to hold interest rates at their current level.

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DAILY UPDATE: Payroll Jobs and Longevity Up

Posted on June 9, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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People whose job it is to watch the economy are shocked at how many jobs the economy added last month: Payrolls added 272,000 more jobs in May, according to employer stats the government dropped yesterday, vastly exceeding the 190,000 increase that analysts predicted.

The biggest job gains were in healthcare (68k jobs), government (43k), and hospitality (42k).
The average hourly pay increased by 0.4% from the previous month and 4.1% over the year, also exceeding analysts’ predictions.

The surprisingly strong employment gains are prompting some head-scratching since they come amid slowing economic growth as consumers pull back on spending. The job market’s resilience has dashed hopes among investors and anyone planning to take out a loan that the Fed will lower interest rates soon. For example:

The unemployment rate ticked up to 4% from 3.9% in April, breaking its historic streak of 27 months under 4%.
A survey of households revealed that the number of Americans working dropped by 408,000 from April to May.

Some economists claim the household survey fails to properly account for immigrant workers, who have been the main driver of working population growth in recent years. But others say it checks out given the general cool-down vibes in the labor market: Job openings were at a three-year low in April, and many recent college grads have struggled to find work.

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While some companies would be thrilled if everyone started living to 120, it could spell trouble for the rest of us. Experts believe that centenarians becoming anything more than an anomaly would put the world in an economic pickle and require a societal overhaul to adapt. Even without futuristic tech that enables ultra-longevity, many developed countries are already in an economic bind due to aging populations and declining birth rates. The US Census Bureau projects that people older than 64 will reach 23% of the population by 2060 (compared to 17% in 2020), which means higher retirement and healthcare costs with fewer workers to offset them.

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What is IMPLIED Stock Volatility?

Posted on June 9, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Implied open attempts to predict the prices at which various stock indexes will open at 9:30 am EST. It is frequently shown on various cable television channels and websites prior to the start of the next business day. This is a powerful tool that gives traders an indication on whether they should be bullish or bearish during the market for SPX, NDX, and RUT.

***

What is Implied Volatility?

Implied volatility shows how much movement the market is expecting in the future.

Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off.

MORE: https://medicalexecutivepost.com/2022/03/18/options-and-derivatives-glossary/

However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.

***

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DAILY UPDATE: Companies and Stocks Dip as Job Growth Rises

Posted on June 8, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Bank of America analysts recently looked back at the last 100 years of stock market data, searching for asset bubbles and what indicated their approach. The nine historical bubbles they found all had one thing in common ahead of their bursting: rising volatility. But, right now the Volatility Index, or VIX, is nowhere near the highs seen before the dot-com bubble burst, which should soothe investor concerns.

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

What’s up

Jazz Pharmaceuticals rose 5.39% today thanks to RBC Capital reiterating its outperform rating of the stock, highlighting the potential of the company’s forthcoming essential tremor treatment.
CarGurus popped 4.05% after receiving a shiny new outperform rating from JMP Securities, which likes the company’s online marketplace business model.
Las Vegas Sands rose 3.11% today on no particular news, as did Cedar Fair, which rose 3.27%. Both are beneficiaries of the vacation season, and likely enjoyed a boost today due to nothing more than the fact that it was a sunny summer Friday.

What’s down

GameStop shares plummeted 39.36% after the company announced poor earnings earlier than investors had anticipated.
Barnes & Noble Education fell 46.29% in reaction to a new equity and refinancing deal, as well as the appointment of five new directors to its board.
Docusign fell 4.67% despite beating earnings estimates this quarter—it was just a smaller beat than investors would have liked, coupled with lackluster guidance.
Semtech dropped 17.90% on the abrupt news that its CEO was departing the company due to a disagreement with its board.
Vail Resorts fell 10.40% after announcing poor earnings and low guidance late yesterday thanks to a warmer-than-usual ski season.

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

Here’s where the major benchmarks ended:

The S&P 500 index declined 5.97 points (0.1%) to 5,346.99, up 1.3% for the week; the Dow Jones Industrial Average^® ($DJI) lost 87.18 points (0.2%) to 38,798.99, up 0.3% for the week; the NASDAQ Composite^® ($COMP) shed 39.99 points (0.2%) to 17,133.13, up 2.4% for the week.
The 10-year Treasury note yield (TNX) jumped about 15 basis points to 4.432%.
The CBOE Volatility Index^® (VIX) fell 0.36 to 12.22.

Interest-rate-sensitive sectors including banking, real estate, and utilities were among this week’s poorest performers amid expectations the Fed is unlikely to lower rates from historically high levels. The Dow Jones Utility Average ($DJU) dropped 2.8% this week. Retailers also posted a down week. Semiconductors still clocked a firm week despite declines the past two days. The PHLX Semiconductor Index (SOX) advanced 3.2% for the week.

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DAILY UPDATE: +/- Stocks and Dull Market Reviews

Posted on June 7, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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What’s up

GameStop shares roared 47.17% higher on Roaring Kitty’s announcement that he will hold a livestream tomorrow.
J.M. Smucker Co. rose 4.57% after it announced that, although sales fell last quarter, cutting costs helped profits beat analyst expectations.
Lululemon shares popped 4.79% after beating earnings estimates and guiding for a stronger second half of the year.
Smartsheet rose 17.15% after announcing it beat analyst expectations this quarter and foresees impressively higher earnings yet to come later this year.

What’s down

Victoria’s Secret shares dropped 6.37% even though the company met both earnings and revenue estimates this quarter. It’s still mid-turnaround, however, and high debt remains a concern for investors.
Big Lots shares tanked 18.32% after the company announced abysmal earnings thanks to core customers cutting back their spending.
Canopy Growth shares dropped 8.45% after the marijuana producer announced plans to sell more shares in order to keep the company afloat.
Five Below shares fell 10.60% after announcing unimpressive earnings as low-income customers get squeezed by inflation.
Nio shares dropped 6.92% after the EV maker announced slower earnings than anticipated thanks to the ongoing decline in EV sales.

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

Here’s where the major benchmarks ended:

The S&P 500 index fell 1.07 points (0.02%) to 5,352.96; the Dow Jones Industrial Average^® ($DJI) gained 78.84 points (0.2%) to 38,886.17; the NASDAQ Composite eased 14.78 points (0.1%) to 17,173.12.
The 10-year Treasury note yield (TNX) fell slightly to 4.285%.
The CBOE Volatility Index^® (VIX) declined 0.05 to 12.58.

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VENTURE CAPITAL: In the Digital Health Care Space

Posted on June 7, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

Dr. David Edward Marcinko MBA CMP™

SPONSOR: http://www.MarcinkoAssociates.com

***

***

At Marcinko & Associates, we appreciate that Venture Capital funding for entrepreneurs in the digital health space cooled a bit in 2020-22 following a red-hot 2018-20. And, overall, digital health companies raised $15.3 billion last year, down from the $29.1 billion raised in 2021—but still above the $14.1 billion raised in 2020, according to Rock Health a seed fund that supports digital health startups.

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

Nevertheless, other analysts predict VC investors and Investment Bankers will still put a good amount of money into digital health in 2024 thru 2027, especially in alternative care, drug development, health information technology, artificial intelligence, EMRs and software that reduces physician workload.

An essential first part of attracting VC interest and IB money is the crafting and presentation of your formal business plan [“elevator pitch”]; as well as the needed technical and managerial experience. This too is crucial for success and exactly where we can assist.

Of course, companies focused on scaling and growing will have different needs across the business lifecycle.

And so, no matter where you are in your journey—from seeking early funding to making final preparations for your IPO—we have equity and insightful administration solutions for you and can assist at any stage of your growth spectrum.

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DAILY UPDATE: D-Day, Digital Health, Stock Companies as Markets Zoom Up!

Posted on June 6, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Today is the 80th anniversary of D-Day: More than 60 World War II veterans flew to Paris over the weekend to take part in what organizers believe could be the final major WWII commemoration involving living veterans. American veterans will be joined by President Joe Biden and other heads of state in Normandy.

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The digital health market has had a tough year, with no IPOs in all of 2023. Comparatively, the industry saw roughly 20 public exits in 2021. The recent slowdown in the broader IPO market is linked to several trends, including high interest rates and some high-profile bankruptcies, according to Adriana Krasniansky, head of research at digital health strategy group and venture fund Rock Health’s advisory arm.

Here’s where the major benchmarks ended:

The S&P 500 index rose 62.69 points (1.2%) to 5,354.03; the Dow Jones Industrial Average^® ($DJI) gained 96.04 points (0.3%) to 38,807.33; the NASDAQ Composite rallied 330.86 points (2.0%) to 17,187.90.
The 10-year Treasury note yield (TNX) fell more than 5 basis points to 4.283%, its lowest level since April 1.
The CBOE Volatility Index^® (VIX) declined 0.53 to 12.63.

What’s up

Nvidia only rose 5.16% today, but it was enough to surpass Apple’s market cap, making the high-flying semiconductor stock the second most valuable public company in the US.
Crowdstrike rose 11.98% today after reporting better than expected fiscal first quarter earnings yesterday afternoon.
Guidewire Software rose 17.63% today after its beat & raise quarterly report late yesterday.
Stitch Fix rose 29.40% after a red-hot earnings report, completely turning around the stock’s slow slide downward this year.
SweetGreen popped 12.76% this afternoon after revealing that its new automated kitchens can actually save on costs and cut time for orders in the long run.

What’s down

Campbell Soup sagged 0.20% after the company announced earnings. The highlight: While prices are higher on shelves everywhere, the price of Campbell’s products didn’t rise for the first time in three years.
Dollar Tree dropped 4.92% after the company revealed it is likely going to have to spin off Family Dollar, which it bought for $8.5 billion in 2015.
Brown-Forman, maker of Jack Daniels whiskey, slumped 5.34% as alcohol sales continue to decline.

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In case you needed more proof that we’re living in the strangest timeline: Morgan Stanley, which owns E*Trade, is contemplating kicking stock influencer Roaring Kitty off the platform. It’s concerned he manipulated GameStop stocks by…posting a meme on X. (the Wall Street Journal)

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DAILY UPDATE: The Peso, Health Company News with Firmer Stock Markets

Posted on June 5, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Sword Health, a virtual provider of musculoskeletal care, banked a financing round of $130 million after nearly tripling its revenue in the past year.

Blue Cross and Blue Shield of Kansas City is leaving the Medicare Advantage market, citing increased regulatory demands and a relatively small MA membership.

And … Cigna laid off 261 employees from its Evernorth Care Group division in Arizona. Keep up to date with all workforce updates with Fierce Healthcare’s ongoing layoff tracker.

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On Monday, the largest U.S.-traded, Mexico-focused fund — the iShares MSCI Mexico ETF which has more than $2 billion under management — slid 10.7% to book its largest daily percentage decrease since March 16th, 2020. Meanwhile, the Franklin FTSE Mexico ETF was off 10%, also logging its worst day in over four years, according to Dow Jones Market Data. The two funds, which traded at $57.93 and $28.78, respectively, on Monday afternoon, closed at their lowest levels since early November, according to Dow Jones Market Data.

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June got off to a rough start on Monday when a glitch at the NYSE incorrectly made it appear that some stocks suffered steep plunges—including a 99% dip in Berkshire Hathaway. Trading in the affected stocks was quickly halted and the errors were fixed.

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What’s up

Core Scientific shares rose 40.25% on the news of a deal with CoreWeave that will see the bitcoin miner pivot to AI provider.
Annexon shares rose 30.79% after the pharmaceutical company announced strong phase 3 trial results for a new treatment for Guillain-Barre Syndrome.
TeraWulf shares rose 22.44% after announcing it mined 186 bitcoins in May, or about six bitcoins per day.

What’s down

Stanley Black & Decker fell 3.69% after it was downgraded at Barclays. A slowdown in consumer spending plus a slow housing market means not many people are buying fancy drills at the moment.
Bath & Body Works fell 12.60% after beating analyst expectations this quarter but announcing that next quarter will bring lower lower earnings.
Designer Brands fell 20.27% after it beat revenue expectations but missed on earnings as its turnaround continues.

Here’s where the major benchmarks ended:

The S&P 500 index gained 7.94 points (0.2%) to 5,291.34; the Dow Jones Industrial Average^® ($DJI) added 140.26 points (0.4%) to 38,711.29; the NASDAQ Composite^® ($COMP) rose 28.38 points (0.2%) to 16,857.05.
The 10-year Treasury note yield (TNX) fell more than 7 basis points to 4.328%.
The CBOE Volatility Index^® (VIX) rose 0.05 to 13.16.

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PHYSICIANS: Is $2.5 Million “Really” Enough to Retire at Age 65?

Posted on June 5, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Is $2.5 Million Really Enough to Retire?

A retirement nest egg of $2.5 million can likely produce an annual income of $100,000 for as long as you are likely to live. This is using the 4% withdrawal rate many financial advisors consider standard. After starting with the first withdrawal of 4% of the total, the annual withdrawal will adjust for inflation. For example, if inflation runs at the target 2% rate of federal policymakers, during retirement the retiree will withdraw:

^$100,000

in the first year

^$102,000

in the second year

^$104,040

in the third year and so on …

According to this model and conventional wisdom, a 4% withdrawal rate will allow a portfolio to last for at least 30 years. This would permit a 65-year-old retiree to maintain consistent purchasing power until age 95 and beyond.

For most retirees, this will likely be adequate to maintain a satisfying standard of living. Only about 3% of 2,000 retirees surveyed by the Employee Benefit Research Institute in 2022 spent $7,000 or more per month, equivalent to $84,000 in annual spending.

This model does not include a number of other factors. For instance, nearly all retirees are eligible for Social Security. For 2023, the maximum monthly Social Security benefit for people who claim benefits at full retirement age is $3,627. That’s equal to more than half the spending of the top 3% of retirees surveyed by EBRI. And, like the standard withdrawal rate, Social Security benefits are indexed to inflation.

5 Variables for Retiring With $2.5 Million at Age 65

While $2.5 million could seem like enough to retire at 65, many factors could change the outlook.

1. Unexpected Healthcare Costs

The Fidelity Retiree Health Care Cost Estimate suggests an average 65-year-old couple could need (approximate, after taxes): Unexpected Healthcare Costs

This assumes both spouses are enrolled in traditional Medicare, which between Medicare Part A and Part B covers expenses such as hospital stays, doctor visits and services, physical therapy, lab tests and more, and in Medicare Part D, which covers prescription drugs.

This figure does not include long-term care (“custodial care”), most dental care, eye exams and more, so your estimated healthcare costs in retirement could be considerably more.

2. Inflation

Inflation can powerfully influence retirees’ financial well-being. When inflation occurs, it reduces the purchasing power of money withdrawn from your retirement account. You can increase withdrawals to maintain purchasing power, but this risks more quickly depleting your savings.

3. Market Downturns

Inflation isn’t the only cause of market downturns. Business cycles and financial crises can exaggerate normal fluctuations in stock market valuations. If you’re selling investments to generate income for living expenses, you may want to sell more if valuations are down.

4. Longevity

While living a long life is positive, you could outlive the money you’ve saved for retirement. Many financial planners use life expectancy to age 95 or 100 when developing plans for funding retirement.

The Social Security Administration says an average 65-year-old male can live to age 83, while the average woman can live to age 86. However, people in their 80s and 90s also generally reduce their spending, with the exception of healthcare costs.

5. Estate Planning

Retiring at 65 with $2.5 million likely involved generating high income and savings, so there’s a chance you could have assets to pass on. With estate planning, adding members of your family as beneficiaries for homes you paid off with a mortgage may have long-term positives.

You may also want to think about any additional income streams. For example, if you own a medical practice or business, you may want to add your family as a beneficiary so they can decide to keep the business running or sell it.

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DAILY UPDATE: Cyber Health Hacks, DocGo, Public Companies and Mixed Stock Markets

Posted on June 4, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Dollar General has ended a pilot program with mobile care provider DocGo, becoming the latest retailer to wind down primary care operations, spokespeople from both companies confirmed to Healthcare Brew on May 31st. The retail giant—the largest in the US by number of stores—began the healthcare partnership in 2023 after announcing ambitions to establish itself as a “health destination” two years prior. DocGo and Dollar General offered mobile health clinics with basic, preventive, and urgent care services at three stores in Tennessee. Dollar General executives previously said in a June 2023 press release that they would expand the DocGo pilot program to more stores.

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Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 5.89 points (0.1%) to 5,283.40; the Dow Jones Industrial Average^® ($DJI) lost 115.29 points (0.3%) to 38,571.03; the NASDAQ Composite^® ($COMP) advanced 93.65 points (0.6%) to 16,828.67.
The 10-year Treasury note yield (TNX) declined more than 11 basis points to 4.40%, near a two-week low.
The CBOE Volatility Index^® (VIX) rose 0.19 to 13.11.

🟢 What’s up?

GameStop shares rose 21% after Roaring Kitty revealed his position in the stock. Fellow meme stocks popped in tandem, including AMC Holdings rising by 11.43%.
Stericycle shares popped 14.57% today after Waste Management announced it would acquire the waste disposal company for $7.2 billion.
Spotify shares rose 5.65% on the news that it will raise the price for premium subscribers from $10.99 to $11.99 beginning next month.
Bio-Path Holdings soared 56.80% after announcing strong phase 2 trial results for its new acute myeloid leukemia treatment.
Coherent shares popped 22.98% after the company announced it had poached Jim Anderson, the extremely competent CEO of Lattice Semiconductor—whose shares plummeted 15.49%.

What’s down?

GSK dropped 8.65% on the news that a Delaware court will allow scientific evidence to be heard in a series of lawsuits regarding the discontinued heartburn drug Zantac.
Boston Beer fell 3.25% after shareholders decided to take their winnings and run following Friday’s big pop after news of its apparent acquisition by Suntory.
Tractor Supply shares toppled 6.21%, likely on poor manufacturing news from the ISM Index, while Halliburton shares fell 5.34%, likely on poor oil news from OPEC+.
Dozens of Mexican stocks and ETFs tumbled today on the election of a new president. The steepest decline was seen by Grupo Financiero Banorte, SAB, which fell 11.38%.

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Cyberattacks around the country are wreaking havoc on the ground at targeted hospitals, but a new study shows that security breaches hurt surrounding providers, too. The research published in JAMA on May 29 found that cyberattacks led to a decrease in emergency department (ED) visits at attacked hospitals and an increase in ED patients at nearby hospitals.

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CONNECT: With Us

Posted on June 3, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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It’s been a while since you’ve connected with us. Are you still interested in emerging financial planning, investing, medical practice management and health information technology insights from the Institute of Medical Business, Advisors, Inc?

If so, please email us if you want to continue receiving daily updates about cutting-edge news and trends or if you’d like to be removed from our e-mailing list.

Your own related posts, comments and personal referrals are appreciated as well.

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DAILY UPDATE: Jobs, Chips, Banks and Tax Refunds

Posted on June 3, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Stat: 4.6%. That’s how much the average income tax refund increased YoY, from $2,878 in April 2023 to $3,011 as of April 5th. (Axios)

Quote: “Wall Street has never been known for high character and high values. Is there a willingness to support Trump if it looks like he’s on the right track? Yes. I’m not proud of that, and I’m not part of that either.”—Dan Lufkin, co-founder of investment bank Donaldson, Lufkin & Jenrette (Bloomberg)

Read: Bank of America’s CEO sees an overall cautiousness on display in the current spending choices of consumers and businesses. (CNBC)

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The May jobs report will drop on Friday: Little change is expected from April, when the unemployment rate ticked up to 3.9% and fewer jobs were added than expected (175,000). This jobs report will be one of the final pieces of economic data to drop before the Fed meets on June 11th and 12th. The central bank is unlikely to announce an interest rate cut.

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Software is no longer eating the world. For the first time, chip stocks now account for the heaviest weighting in the S&P 500, taking the top spot away from software companies last week. Salesforce and other enterprise software giants are getting crushed as companies prioritize generative AI investments (chips and servers) over SaaS products.

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DAILY UPDATE: Mixed Stock Markets with DJIA Up

Posted on June 1, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Here’s where the major benchmarks ended:

The S&P 500 index added 42.03 points (0.8%) to 5,277.51, down 0.5% for the week; the Dow Jones Industrial Average^® ($DJI) gained 574.84 points (1.5%) to 38,686.32, down 1.0% for the week; the NASDAQ Composite^® ($COMP) declined 2.06 points (0.01%) to 16,735.02, down 1.1% for the week.
The 10-year Treasury note yield (TNX) fell more than 6 basis points to 4.491%.
The CBOE Volatility Index^® (VIX) declined 1.55 to 12.92.

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🟢 What’s up

Gap popped 27% after the retail conglomerate raised its guidance for the year and sales for all four of its brands beat earnings expectations.
Caesars jumped 12% because of the Carl Icahn effect: The investor reportedly acquired a “sizeable stake” in the casino company, per Bloomberg.
The Boston Beer Company shares gained 21% on reports that the company may sell itself to Suntory.
Ambarella leapt 20% after better-than-expected earnings for the semiconductor company.
PENN Entertainment jumped 20% today after an activist investor called for a sale of the company.

What’s down

Trump Media sank 5% a day after former President Donald Trump’s historic felony conviction on 34 counts for falsifying business records.
Dell shares dropped 18% after the PC maker reported disappointing AI server sales and raised concerns about margins.
MongoDB shares fell 24% after executives reduced fiscal guidance for the year.
SentinelOne shares fell 13% when the company lowered its financial forecast for the year.

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Private equity and consolidation are leading to a rise in hospital costs for patients. (the Wall Street Journal)

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DAILY UPDATE: Hospital Charges, Cannabis and Stocks as Markets Slump

Posted on May 31, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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The prices hospitals charge for their services have long been opaque, but thanks to a 2021 hospital price transparency law, the picture is starting to come slightly into focus. And it turns out, there are some huge disparities in the prices hospitals charge that can’t be attributed to quality of care, according to a recent study from research institute Rand Corporation.

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🟢 What’s up

Foot Locker shares rose 14.90% after the company announced stellar earnings that illustrated management’s turnaround plans are clearly working.
Best Buy shares were up 13.39% today after the company announced it beat earnings estimates but missed on revenue.
HP shares popped 16.95% thanks to strong earnings results and its value as a sneaky AI investment.
C3.ai soared 19.48% after announcing beat-and-raise earnings results.
Birkenstock rose 11.65% after announcing beats on earnings and revenue, as well as strong consumer demand despite inflation.
Burlington Stores boomed 17.52% after announcing estimate-beating earnings as well as strong margin growth.

What’s down

Salesforce is down 19.73% after the cloud computing company missed revenue estimates for the first time since 2006 and projected slower sales in the coming quarter. Turns out not even commercials featuring hunky Matthew McConaughey could save the company’s quarter.
UIPath shares plummeted 34.06% after announcing disappointing results and lower forward guidance, and to add insult to injury got hit with an analyst downgrade from Bank of America.
Build-A-Bear Workshop got the stuffing knocked out of it, dropping 13.92% after it missed estimates on both the top and bottom lines.
Hormel sank 9.69% after missing earnings thanks to slower retail sales offsetting higher meat prices, leaving shareholders stuck eating bologna sandwiches for lunch.
Kohl’s dropped 22.88% in its worst day ever after the company announced a terrible quarter and forecast more issues ahead due to customers contending with inflation.

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) fell 31.47 points (0.6%) to 5,235.48; the Dow Jones Industrial Averagedropped 330.06 points (0.9%) to 38,111.48; the NASDAQ Composite^® ($COMP) declined 183.50 points (1.1%) to 16,737.08.
The 10-year Treasury note yield (TNX) lost more than 7 basis points to 4.548%.
The CBOE Volatility Index^® (VIX) rose 0.19 to 14.47.

Interest-rate-sensitive sectors including banks and utilities were among the stronger performers Thursday, boosted by a pullback in Treasury yields from four-week highs posted earlier in the week. Stocks are still heading for a down week, with the S&P 500 on track for its first weekly decline out of the past six.

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Legal cannabis is a booming industry: An estimated $38.4 billion in medical and recreational cannabis was sold in the US in 2023, and that figure is projected to rise to $56.9 billion by 2028. The industry has grown an average of 29.1% per year between 2018 and 2023, according to IBISWorld.

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DAILY UPDATE: Physician Salary, Consumer Confidence, Company Stocks and Slumping Markets

Posted on May 30, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Doctors Saw a 6% Boost in Pay in 2023

After several years of modest or declining growth, the average pay for doctors jumped 5.9% in 2023, rebounding from a decline of 2.4% in 2022. Most medical specialties experienced positive growth in 2023, with the top 10 seeing annual growth rates exceeding 7%, according to the 2024 Physician Compensation Report from professional medical network Doximity.

However, inflationary pressures continue to impact physicians’ real income. According to the American Medical Association, when adjusted for inflation, Medicare physician payment has dropped 26% since 2001. Doximity’s compensation data draw from nearly 150,000 survey responses over five years, including responses from more than 33,000 U.S. physicians in 2023 alone.

Source: Heather Landi, Fierce Healthcare [5/23/24]

Economic Summary

The S&P 500 has risen 23 of the last 30 weeks, according to Deutsche Bank, and rose slightly today as well. Meanwhile, the NASDAQ closed at a record high yesterday after tech companies across the board rose, while the Dow dropped over 200 points.
Treasury prices fell and yields rose after two weaker-than-expected auctions saw soft sales of 2-year and 5-year bonds.
Gold prices slipped 5% last week after falling four days in a row, but the key commodity kicked off this week with a win. With key PCE data coming out on Friday that could send the market soaring or tanking, investors are hedging their bets with the shiny yellow metal.
Bitcoin fell as Mt. Gox made good with its creditors a decade after being hacked, while ethereum sank as traders continued to lock in gains from the SEC’s dramatic ruling last week.

The S&P 500^® index (SPX) fell 39.09 points (0.7%) to 5,266.95; the Dow Jones Industrial Average lost 411.32 points (1.1%) to 38,441.54; the NASDAQ Composite^® ($COMP) shed 99.30 points (0.6%) to 16,920.58.
The 10-year Treasury note yield climbed more than 7 basis points to 4.614%.
The CBOE Volatility Index^® (VIX) rose 1.38 to 14.30.

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Consumer confidence rose for the first time in four months

Americans are unexpectedly feeling better about the economy this month: Per the Conference Board’s monthly index, US consumer sentiment rose from 97.5 in April to 102 in May, smashing economists’ estimates. Meanwhile, the expectations index, which measures the short-term outlook for income and other labor market conditions, increased the most since July. However, the report showed that Americans remain worried about inflation and interest rates. Despite their mixed feelings about the economy, Americans continue to spend vigorously on travel. The TSA set a record for most travelers screened in a single day last Friday.

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STOCKS UP:

Dick’s Sporting Goods rose 15.86% to a new all-time high today after the company reported impressive earnings and a strong outlook.

Chewy shares rose 27.14% after beating sales and earnings estimates, as well as announcing a new share repurchase plan.
AST SpaceMobile shares shot to the moon by 69.23% on the news it has reached a deal with Verizon to build a satellite network for unmodified smartphones.
Marathon Oil shares are up 8.47% as shareholders voice their approval of the company’s acquisition by ConocoPhillips, whose shares are down 3.11% today.

STOCKS DOWN:

American Airlines shares fell 13.54% after the company cut its guidance for the second quarter. Southwest Airlines fell 3.83%, and Delta Air Lines fell 0.74%.

Advance Auto Parts fell 10.91% after the company raised its revenue outlook but missed on sales and earnings this quarter.
UnitedHealth shares fell 3.81% after an executive noted the company may see some “disturbances” in its Medicaid business.
Moderna fell 3.45% as the stock continues to slide following one of the best months in company history.

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DAILY UPDATE: Post Memorial Day Tuesday

Posted on May 28, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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US markets were closed for Memorial Day in what will be a quiet few days until the latter half of the week, when a slew of economic reports get filed. The highlights include the Fed’s Beige Book on Wednesday, initial jobless claims and Q1 GDP on Thursday, and both the April personal income & spending report and the all-important PCE read on Friday.

PCE, or the Personal Consumption Expenditures Price Index, will dictate market moves more than any of the other readings next week, since the Fed places a lot of importance on the measure—particularly core PCE, which excludes ever-changing food and gas prices. April’s CPI report was better than expected, but recent FOMC minutes revealed the Fed is still hesitant to cut interest rates without more data—which makes this PCE reading all the more significant.

And don’t forget, the US isn’t the only country fending off high inflation. Germany reports preliminary May CPI on Wednesday, while readings for France, Italy, and the entire Eurozone will be released on Friday. Tokyo CPI, economic activity, and job market data will also come out on Friday, in what is turning out to be a key day in determining where markets are heading as the second half of the year kicks off.

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Stock spotlight: One to watch this week is Dell, which reports its quarterly earnings on Thursday. Investors will be seeking news on its AI-server business. The company hit a record high last week as Nvidia’s red-hot revenue numbers boosted AI-related stocks.

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DAILY UPDATE: Memorial Day as Stocks Recover

Posted on May 27, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Here’s where the major stock market benchmarks ended:

The S&P 500 index added 36.9 points (0.7%) to 5,304.72, basically flat on the week; the Dow Jones Industrial Average gained 4.3 points (0.0%) to 39,069.59, down 2.3% for the week; the NASDAQ Composite^® ($COMP) rallied 184.8 points (1.1%) to 16,920.79, up 1.4% for the week.
The 10-year Treasury note yield (TNX) was little changed at 4.46%, up about four basis points for the week.
The CBOE Volatility Index^® (VIX) fell 0.86 to 11.91 and finished a roller-coaster week roughly where it started.

Some of the mega cap names saw notable strength Friday. Nvidia added another 2.6% to Thursday’s 9.3% post-earnings rally. Apple (AAPL) gained 1.7%, Meta Platforms (META) added 2.7%, and Tesla (TSLA) rose 3.2%

The small cap Russell 2000^® Index (RUT) also outperformed, gaining nearly 1% Friday. However, for the week, the index lost 1.3%.

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INVITE: Professor Marcinko to Your Next Seminar or Event

Posted on May 27, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

See You Soon

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Colleagues know that I enjoy personal coaching and public speaking and give as many talks each year as possible, at a variety of medical society and financial services conferences around the country and world. All in a Corona safe environment.

MARCINKO in the METAVERSE

These include lectures and visiting professorships at major academic centers, keynote lectures for hospitals, economic seminars and health systems, end-note lectures at city and statewide financial coalitions, and annual lectures for a variety of internal yearly meetings.

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DAILY UPDATE: Friday Before Memorial Day Weekend and the Stock Market Collapse

Posted on May 24, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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The Friday before Memorial Day is never action packed, and this year is no exception as earnings season begins to wrap up and economic readings slow down. Two reports to watch for tomorrow: April Durable Goods Orders and University of Michigan’s May sentiment report.

Durable Goods Orders are big-ticket items with a shelf life of three or more years—think appliances and furniture for consumers, or machinery, equipment, and vehicles for businesses. More durable goods orders indicate a healthy economy, as consumers and companies alike wouldn’t spend as much if they weren’t confident they could afford it, and also provides insight into how strong the manufacturing industry is.

The University of Michigan’s consumer sentiment index is a survey of consumers via telephone to better understand how they feel about the economy, what they’re spending their money on, etc. The preliminary findings earlier this month weren’t great thanks to sticky inflation, and tomorrow’s finalized readings won’t change much. But with the latest CPI reading indicating inflation might yet be tamed, next month’s report could be much more illuminating.

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Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) fell 39.17 points (0.7%) to 5,267.84; the Dow Jones Industrial Average lost 605.78 points (1.5%) to 39,065.26; the NASDAQ Composite^® ($COMP) shed 65.51 points (0.4%) to 16,736.03.
The 10-year Treasury note yield rose more than 4 basis points to 4.479%.
The CBOE Volatility Index^® (VIX) rose 0.48 to 12.77.

Financial shares were among Thursday’s weakest performers amid ideas a “higher-for-longer” Fed rate outlook could pressure bank margins. The KBW Regional Bank Index (KRX) dropped almost 3% to a three-week low. Other interest-rate-sensitive sectors, including real estate and utilities, took pressure.

In other markets, WTI Crude Oil (/CL) futures fell for the fourth straight trading day and closed at a three-month low under $76 per barrel.

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Spot Ethereum ETFs were approved by the SEC in another big win for crypto, following the approval of spot bitcoin ETFs earlier this year.

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DAILY UPDATE: Uber Health, Lyft Healthcare, HHS Cyber Attacks as Markets Swoon

Posted on May 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Here’s where the major benchmarks ended:

The S&P 500 index lost 14.40 points (0.3%) to 5,307.01; the Dow Jones Industrial Average^® ($DJI) declined 201.95 points (0.5%) to 39,671.04; the NASDAQ Composite^® ($COMP) slipped 31.08 points (0.2%) to 16,801.54.
The 10-year Treasury note yield (TNX) rose more than 1 basis point to 4.426%.
The CBOE Volatility Index^® (VIX) increased 0.43 to 12.29.

Retailer shares were among the market’s weakest performers after Target’s (TGT) quarterly results, released before Wednesday’s open, fell short of expectations. Target shares tumbled 8% after the company reported revenue fell 3% in the first quarter from the year-earlier period. During the company’s earnings call, Target CEO Brian Cornell noted “continued soft trends in discretionary categories” contributed to the revenue decline.

Energy companies were also under pressure after WTI Crude Oil (/CL) futures closed at a three-month low just above $77 per barrel.

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Following a series of high-profile—and costly—cyberattacks against the healthcare industry, the federal government is stepping in with a $50+ million initiative intended to boost hospital cybersecurity, a division of the Department of Health and Human Services (HHS) announced on May 20th.

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Uber Health will begin rolling out a new solution designed for caregivers this summer, allowing individuals to add a caregiver to their Uber profile. That caregiver can then see and spend that person’s health benefits on eligible services, request rides to doctors’ appointments or order groceries. In the coming months, Uber Health will be working with Medicare Advantage, Medicaid and commercial plans to offer the solution.

U.S. Sens. Sheldon Whitehouse and Bill Cassidy, M.D., want to reform how primary care providers get paid through Medicare, and they also want to hear from the healthcare industry about the best way to do it. Together, they introduced a bipartisan bill, the Pay PCPs Act (S. 4338), last week to better support and improve pay for high-quality primary care providers.

And… digital maternal health company Babyscripts announced a partnership with Lyft Healthcare to offer sponsored rides for people who are pregnant or postpartum and face barriers to transportation. The Lyft partnership will identify transportation-insecure patients and offer free rides to in-person appointments in traditional care settings and community-based healthcare services and programs.

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METAVERSE MEDICINE: Doctor, Patient Avatars Ahead?

Posted on May 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By WebMD

In what some are calling the next iteration of the internet, the metaverse is an unfamiliar digital world where you could be an avatar navigating computer-generated places and interacting with others in real time. In this space, the constraints of our physical, bricks and mortar world and travel habits fade. And new opportunities and challenges emerge.

***

READ HERE: https://www.webmd.com/a-to-z-guides/news/20220812/metaverse-medicine-doctor-patient-avatars-ahead

Cite: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

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PODCAST: Medicare Value Based Payments Explained

Posted on May 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Eric Bricker MD

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DAILY UPDATE: Fiduciary Rule with Stock Market Earnings Week

Posted on May 20, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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For last the week, the NASDAQ Composite (^IXIC) rose more than 2% while the S&P 500 (^GSPC) popped more than 1.5%. The Dow Jones Industrial Average (^DJI) rose more than 1%, closing above 40,000 for the first time ever on Friday.

In the week ahead, highly anticipated earnings results from Nvidia (NVDA) are expected to be the key catalyst for markets. Results from Target (TGT), Palo Alto Networks (PANW), and Lowe’s (LOW) will also be closely tracked by investors.

The week is also expected to be quieter on the economic front, with updates on activity in the manufacturing and services sectors as well as the final reading of consumer sentiment for May on tap. Minutes from the Fed’s May meeting are also expected on Wednesday afternoon.

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The rule, finalized last month by the Labor Department, requires investment advisers to provide “prudent, loyal, honest advice free from overcharges” and avoid recommendations that favor their interests at the expense of their clients. It also updates the definition of an investment advice fiduciary under the Employee Retirement Income Security Act (ERISA) and Internal Revenue Code.

Under the new definition, a fiduciary includes any financial services provider who offers investment advice to a retirement investor for a fee and who claims to be acting as a fiduciary or who a reasonable investor understands to be a trusted adviser acting in their best interest. The update removes the requirement that fiduciaries provide advice on a regular basis, bringing one-time advice under the rule. The Biden administration has argued that the previous definition, which was written in 1975, is outdated and has not kept pace with changes to the retirement landscape.

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And, confidence in the U.S. dollar has waned, as forecasts suggest that a dip in inflation might allow the Federal Reserve to slash interest rates. With a notable 5% climb earlier this year, the dollar is now bracing for its first loss of 2024, triggered by a promising inflation report.

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Finally, fourteen of the world’s 20 largest stock markets have hit all-time highs recently, including England, Japan, Brazil, India, and Canada, according to Bloomberg. In the USA, the S&P 500 (also at a record) hasn’t dropped more than 2% in a trading session in 311 days, the longest streak in five years.

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DAILY UPDATE: Jerome Powell, DJIA, Reddit and Life Insurance

Posted on May 19, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Young adults are delaying life insurance purchases due to financial constraints and a preference for spending on immediate experiences. The insurance industry is responding with digital-first strategies and more flexible products.

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The DJIA closed above 40,000 for the first time after briefly crossing the milestone the day before and clinching its fifth winning week. Reddit shot up after announcing a partnership with OpenAI that lets the AI train on your posts and gives Reddit advertising dollars and the ability to use the tech to make new tools.

But, GameStop stock plunged after the recently reinvigorated meme stock filed to sell 45 million new shares and revealed that sales were down last quarter.

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Jerome Powell, chair of the Federal Reserve has tested positive for Covid. But the economy needn’t worry because he’s working from home.

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PHYSICIANS BEWARE: Traditional Financial Planning “Rules of Thumb”

Posted on May 17, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

DOCTORS AND MEDICAL PROFESSIONALS BEWARE?

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While financial planning rules of thumbs are useful to people as general guidelines, they may be too oversimplified in many situations, leading to underestimating or overestimating an individual’s needs. This may be especially true for physicians and many medical professionals. Rules of thumb do not account for specific circumstances or factors occurring at a particular time, or that could change over time, which should be considered for making sound financial decisions.
Great Health Industry Resignation: https://medicalexecutivepost.com/2021/12/12/healthcare-industry-hit-with-the-great-resignation-retirement/

For example, in a tight job market, an emergency fund amounting to six months of household expenses does not consider the possibility of extended unemployment. I’ve always suggested 2-3 years for doctors. Venture capitalist lay-offs of physicians during the pandemic confirm this often criticized benchmark opinion of mine.

As another example, buying life insurance based on a multiple of income does not account for the specific needs of the surviving family, which include a mortgage, the need for college funding and an extended survivor income for a non-working spouse. Again a huge home mortgage, or several children or dependents, may be the financial bane of physician colleagues and life insurance.

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***

EXAMPLES: Old/New Rules

A home purchase should cost less than an amount equal to two and a half years of your annual income. I think physicians in practice for 3-5 years might go up to 3.5X annual income; ceteras paribus.
Save at least 10-15% of your take-home income for retirement. Seek to save 20% or more.
Have at least five times your gross salary in life insurance death benefit. Consider 10X this amount in term insurance if young, and/or with several children or other special circumstances.
Pay off your highest-interest credit cards first. Agreed.
The stock market has a long-term average return of 10%. Agreed, but appreciated risk adjusted rates of return..
You should have an emergency fund equal to six months’ worth of household expenses. Doctors should seek 2-3 years.
Your age represents the percentage of bonds you should have in your portfolio. Risk tolerance and assets may be more vital.
Your age subtracted from 100 represents the percentage of stocks you should have in your portfolio. Risk tolerance and assets may still be more vital.
A balanced portfolio is 60% stocks, 40% bonds. With historic low interest rates, cash may be a more flexible alternative than bonds; also avoid most bond mutual funds as they usually never mature.

There are also rules of thumb for determining how much net worth you will need to retire comfortably at a normal retirement age. Here is the calculation that Investopedia uses to determine your net worth:

If you are employed and earning income: ((your age) x (annual household income)) / 10.
If you are not earning income or you are a student: ((your age – 27) x (annual household income)) / 10.
NET WORTH: https://medicalexecutivepost.com/2007/11/26/assets-liabilities-and-personal-net-worth/
INCOME: https://medicalexecutivepost.com/2008/04/22/medical-income-salary-maximization/

Compensation in the Physician Specialties: Mostly Stable - NEJM CareerCenter Resources

RULES 72, 78 and 115: https://medicalexecutivepost.com/2022/01/30/the-rules-of-72-78-and-115/

INVITATION: https://medicalexecutivepost.com/2021/05/08/invite-dr-marcinko-to-your-next-big-event/

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FINANCE: https://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko

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Filed under: "Doctors Only", Accounting, Career Development, Ethics, Financial Planning, Glossary Terms, iMBA, Inc., Insurance Matters, LifeStyle, Op-Editorials, Portfolio Management, Recommended Books, Retirement and Benefits, Touring with Marcinko | Tagged: debt, FICO, financial rules of thumb, like insurance, Marcinko, mortgages, net worth, physician budgets, rates return, retirement, Risk Adjusted Rate Return, ROI | 1 Comment »

DAILY UPDATE: Core CPI and ERISA while Markets Remain High with Walmart Up

Posted on May 17, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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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Here’s where the major benchmarks ended:

America’s oldest popular stock index, the Dow Jones Industrial Average, hit a brief record high yesterday morning when it traded above 40,000, reflecting renewed hope for the market’s health after Wednesday’s promising inflation report.

The S&P 500^® index (SPX) fell 11.05 points (0.2%) to 5,297.10; the Dow Jones Industrial Average declined 38.62 points (0.1%) to 39,869.38; the NASDAQ Composite^® ($COMP) shed 44.07 points (0.3%) to 16,698.32.
The 10-year Treasury note yield (TNX) rose more than 2 basis points to 4.381%.
The CBOE Volatility Index^® (VIX) dropped 0.03 to 12.42.

Walmart’s strength fueled a strong day for consumer staples shares. The S&P 500 Consumer Staples ($SP500#30), which includes Walmart as well as companies like Coca-Cola (KO) and Procter & Gamble (PG), surged 1.5% to its highest level in over two years.

Among other companies, Applied Materials (AMAT) fell 1.6% ahead of the semiconductor industry supplier’s quarterly earnings report, which is expected after Thursday’s close.

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

And, Core CPI, which tracks the price of goods and services excluding volatile food and energy prices and is closely watched as an inflation indicator, rose 3.6% from the same period last year. That’s the smallest annual increase since April 2021. On a monthly basis, core CPI rose 0.3%, marking the first time in six months that its growth slowed from the prior month. Other good signs include:

Grocery prices dropped 0.2% from March, the first decrease in a year.
Health insurance and car insurance increased more slowly in April than in March.
A separate report released yesterday showed consumer spending stayed steady last month.

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

Finally, Joe Manchin (D-W.Va.) and a group of Republican senators are moving to overturn a retirement investment planning rule that was finalized by the Labor Department last month. The Labor Department unveiled the new rule last month that would update the definition of an investment advice fiduciary under the Employee Retirement Income Security Act. Manchin and 15 Republican senators joined in co-sponsoring a Congressional Review Act (CRA) resolution that would overturn this new rule.

CITE: https://tinyurl.com/tj8smmes

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Filed under: "Ask-an-Advisor", Breaking News, Experts Invited, Financial Planning, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, iMBA, Inc., Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors, Touring with Marcinko | Tagged: advice fiduciary, AMAT, Applied Materials, ARK invest, Cathie Wood, CBOE, Coca-Cola, coinbase, Consumer Price Index, core CPI, CPI, DJIA, fiduciary, ko, Manchin, Marcinko, NASDAQ, Palantir, PG, Procter & Gamble, S&P 500, textbooks, VIX, Walmart | Leave a comment »

DAILY UPDATE: Healthcare Monopolies, Ark Invest and the Stock Markets Mega Rally

Posted on May 16, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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

“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“

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More people are interested in determining their “heart age” using new tests and tech tools, but some skeptics say it’s not a healthy data point to focus on. (the Wall Street Journal)

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

The Cathie Wood-led Ark Invest just made some significant trades. The most prominent among them were the increased stakes in Palantir Technologies Inc (NYSE:PLTR) and the reduced holdings in Coinbase Global Inc (NASDAQ: COIN).

Here’s where the major benchmarks ended:

The S&P 500 index rose 61.47 points (1.2%) to 5,308.15; the Dow Jones Industrial Average added 349.89 points (0.9%) to 39,908.00; the NASDAQ Composite rallied 231.21 points (1.4%) to 16,742.39.
The 10-year Treasury note yield fell almost 10 basis points to 4.348%.
The CBOE Volatility Index^® (VIX) dropped 0.97 to 12.45.

Chipmaker shares led the way higher Wednesday, lifting the Philadelphia Semiconductor Index (SOX) almost 3% to a 10-week high. Interest-rate-sensitive sectors like real estate and utilities were also strong. The small-cap Russell 2000^® Index (RUT) advanced 1.1% to a seven-week high. The U.S. Dollar Index ($DXY) slumped to its weakest level in five weeks, reflecting expectations for lower interest rates that may reduce the appeal of U.S. fixed income assets.

Among companies, Cisco Systems (CSC) surged 1.5% ahead of its quarterly results expected after Wednesday’s close. Dow member Walmart (WMT) is expected to release results Thursday morning as the unofficial retail earnings season accelerates.

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

And … The U.S. Department of Justice (DOJ) announced it has established a new task force to take on healthcare monopolies and collusion. The task force, made up of prosecutors, economists, healthcare industry experts and others, will guide the division’s enforcement strategy and policy approach in healthcare, including by facilitating policy advocacy, investigations and, where warranted, civil and criminal enforcement in healthcare markets.

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Filed under: "Ask-an-Advisor", Breaking News, Experts Invited, Financial Planning, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, iMBA, Inc., Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors, Touring with Marcinko | Tagged: ARK invest, biological age, Cathie Wood, CBOE, coinbase, Cosco, DJIA, DOJ, Healthcare monopolies, heart, Marcinko, NASDAQ, Palantir, RUT, S&P 500, SCS, SOX, textbooks, VIX, Walmert, WMT, WSJ | Leave a comment »

DAILY UPDATE: Squarespace, Ark Invest & Hospitals as the Markets Rebound

Posted on May 15, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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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Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 25.26 points (0.5%) to 5,246.68, the highest since a record close March 28; the Dow Jones Industrial Average^® ($DJI) gained 126.60 points (0.3%) to 39,558.11; the NASDAQ Composite climbed 122.94 points (0.8%) to 16,511.18.
The 10-year Treasury note yield (TNX) fell more than 3 basis points to 4.449%.
The CBOE Volatility Index^® (VIX) decreased 0.18 to 13.42.

Among companies, Home Depot’s (HD) quarterly results reported earlier Tuesday kicked off the unofficial start of the retail earnings season. The home improvement retailer’s earnings topped expectations, but revenue missed forecasts, initially sending the company’s shares down sharply.

Home Depot also reaffirmed its full-year guidance for a 1% decline in comparable-store sales and a 1% increase in total sales. The company’s shares bounced back to end with a 0.1% loss.

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

And, the Cathie Wood-led Ark Invest just made some significant trades. The most prominent among them were the increased stakes in Palantir Technologies Inc (NYSE PLTR) and the reduced holdings in Coinbase Global Inc (NASDAQ: COIN).

Moreover, the website-building platform Squarespace is to go private, which it announced it’ll be doing in an all-cash deal with Permira, a private equity firm. Squarespace, which was public for nearly three years, joins a group of other smaller tech companies like Qualtrics that have recently pulled themselves off the public market. (CNBC)

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

Employers and private insurers are paying hospitals more for inpatient and outpatient services than in previous years, a study from RAND Corporation finds. The American Hospital Association dismissed the report saying it offers a “skewed and incomplete picture.”

And finally … Kaiser Permanente began its 2024 earnings season with more than $2.7 billion in net income and $935 million in operating income, just months after sharing plans to lay off workers.

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Filed under: "Ask-an-Advisor", Breaking News, Experts Invited, Financial Planning, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, iMBA, Inc., Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors, Touring with Marcinko | Tagged: AHA, ARK invest, Cathie Wood, CBOE, coinbase, DJIA, HD, Home Depot, Kaiser Permanente, Marcinko, NASDAQ, Palantir, Permira, Qualtrics, Rand, S&P 500, Squarespace, textbooks, VIX | Leave a comment »

DAILY UPDATE: Moderna Down with Mixed Markets

Posted on May 14, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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

“Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily“

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SPONSORED BY: Marcinko & Associates, Inc.

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Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) fell 1.26 points (0.02%) to 5,221.42; the Dow Jones Industrial Average lost 81.33 points (0.2%) to 39,431.51; the NASDAQ Composite^® ($COMP) gained 47.37 points (0.3%) to 16,388.24.
The 10-year Treasury note yield (TNX) dropped almost 2 basis points to 4.487%.
The CBOE Volatility Index^® (VIX) surged 1.05 to 13.60.

Biotechnology and food and beverage shares were among the market’s strongest sectors Monday, while communication services stocks were among the biggest laggards. Energy shares took pressure despite a jump of 1.2% in WTI Crude Oil (/CL) futures, which ended above $79 per barrel after slumping last week to two-month lows.

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

Moderna is “bleeding money” as its forthcoming RSV vaccine doesn’t appear to deliver better results than other RSV shots already on the market. (Bloomberg)

***

It’s ChatGPT-4o’s time to shine. The “o” stands for omni, and it’s the latest iteration of OpenAI’s signature chatbot. According to the company, it’s much faster with enhanced “capabilities across text, vision, and audio.”

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

23% is the average portion of the bill hospitals collected from patients before treatment in Q1 of this year, up 3% YoY. (the Wall Street Journal)

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