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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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According to a recent report in the Washington Post, a $3 billion scam involving urinary catheters has brought to light serious flaws in Medicare, prompting strong calls for reform.

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

Here’s where the major benchmarks ended:

• The S&P 500 rose about 60 points (1.1%) to 5,459.10; the Dow Jones Industrial Average was up 654 points (1.6%) at 40,589.34; the NASDAQ Composite ended 176 points higher (1.0%) at 17,357.88.
• The 10-year Treasury note yield (TNX) fell five basis points to 4.197%.
• The CBOE Volatility Index® (VIX) slipped 10% to 16.56.

What’s up

• Coursera skyrocketed 44.67% thanks to a strong earnings report, as well as high enrollment in AI courses.
• 3M flew nearly 30% higher today on a fantastic earnings report that saw the company put some major lawsuits behind it and refocus on profits.
• Deckers Outdoor popped 6.32% due to strong sales growth for its HOKA and UGG brands in its recent quarter.
• Norfolk Southern powered 10.95% higher after handily outperforming expectations, though those estimates were based on a quarter that had a major derailment.
• Bristol Myers Squibb rose 11.44% on a beat-and-raise earnings report.
• Newell Brands shot 40.54% higher today as the turnaround plan for the maker of household brands like Yankee Candle comes to fruition. Smells like success!

What’s down

• Dexcom plummeted 40.66% after management cut the diabetes monitoring company’s full-year revenue guidance.
• Biogen sank 7.15% after European regulators denied marketing authorization for the pharma company’s new Alzheimer’s drug.
• Weight Watchers fell 12.50% after Morgan Stanley analysts downgraded the company from overweight to equal weight based on the long-term headwinds it faces from obesity drugs.

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

The US is raising alarm bells about a North Korean hacking group that broke into NASA, two US Air Force bases, and several defense companies.  The FBI, NSA and State Department just called out the North Korean hacking group “Andariel” for committing cyber espionage and using ransomware attacks on US hospitals to fund its operations. 

CITE: https://tinyurl.com/tj8smmes

Stat: 524. That’s how many employees Optum is laying off in California. (Becker’s Health IT)

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