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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Health tech startup Guidehealth, which assists health systems with value-based care coordination, has raised $14 million in its seed round to make further investments in technology.

Clover Health reported a net income of $7.2 million during the second quarter and raised its full-year guidance.

And … Tenet Healthcare is selling five Alabama hospitals to Orlando Health and is entering into a new revenue cycle management arrangement through Conifer Health Solution

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

What’s up

• Uber drove 10.93% higher after beating analyst estimates for both earnings and revenue in the second quarter.
• CrowdStrike finally got some good news, recovering 4.34% after Piper Sandler analysts decided it had sold off enough.
• Palantir Technologies surged 10.33% thanks to an earnings beat powered by strong AI demand.
• Lucid Group rose 10.38% due to an injection of $1.5 billion in funding by Saudi Arabia’s Public Investment Fund.
• Kenvue jumped 14.68% after the maker of Band-Aids and Tylenol beat analyst earnings expectations in the second quarter.
• Lumen Technologies exploded 93.05% after management announced a dramatic increase in new business thanks to huge AI usage.

What’s down

• Chegg plummeted 22.45% despite beating revenue expectations in the second quarter. Shareholders didn’t like the slower growth and the decline in users.
• Vulcan Materials stumbled 4.51% thanks to a poor earnings report highlighted by lower demand for construction materials.
• ZoomInfo Technologies tanked 18.27% after missing on both top and bottom line expectations in the second quarter.

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

Here’s where the major stock market benchmarks ended:

• The S&P 500 index (SPX) rose 53.7 points (1%) to 5,240.03; the Dow Jones Industrial Average^® ($DJI) climbed 294.39 points (0.76%) to 38,997.66; the NASDAQ Composite ($COMP) advanced 166.77 points (1%) to 16,366,85.
• The 10-year Treasury note yield (TNX) increased about 10 basis points to 3.88%.
• The CBOE Volatility Index^® (VIX) ended at 27.7, well above lows below 11 last month.

CITE: https://tinyurl.com/tj8smmes

A new coronavirus variant named KP.3.1.1 has risen to dominance in the U.S., almost doubling in prevalence in just two weeks, the Centers for Disease Control and Prevention reports. Experts are warning that the new variant—which, as of August 3, accounts for more than 1 in 4 U.S. COVID-19 cases—is “more of a challenge” to our immune systems compared to previous variants.

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