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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Former Theranos CEO Elizabeth Holmes on Thursday lost her bid to have an appeal of her 2022 fraud conviction reheard. The 9th Circuit U.S. Court of Appeals denied Holmes’ request for a rehearing before the original three-judge panel that upheld her conviction. At the same time, the court said no judge on the circuit court had asked for a vote on whether to have the full court rehear the appeal.

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🟢 What’s up

• Boeing flew 3.31% higher after being named one of the direct beneficiaries of today’s US/UK trade deal.
• AppLovin popped 11.88% after it revealed a 40% increase in revenue last quarter and announced it’s selling its mobile gaming unit.
• Carvana jumped 10.17% thanks to record sales due to customers buying cars at higher rates last quarter to get ahead of tariffs.
• Crocs climbed 9.82% on a strong earnings report, though the footwear icon pulled its fiscal guidance.
• IonQ is one of the rare cases of a company in the quantum computing industry that reported solid financials. Shareholders rewarded it with a 9.27% gain today.
• But it had nothing on D-Wave Quantum, which skyrocketed 51.34% thanks to record first-quarter revenue.
• Axon Enterprise got a 14.13% jolt after the Taser maker reported strong earnings growth and upped its revenue guidance for the current quarter.
• Crypto stocks had a great day thanks to bitcoin’s breakout (more on that later). MicroStrategy rose 5.58%, Coinbase climbed 5.06%, and Riot Platforms gained 7.65%.

What’s down

• Arm Holdings fell 6.18% after the semiconductor manufacturer warned that both earnings and revenue will come in lower than Wall Street expected this year.
• Peloton Interactive lost 6.73% thanks to a bigger-than-expected loss last quarter and a 13% decline in revenue.
• Cleveland-Cliffs tumbled off a cliff on the news that the steelmaker is fully or partially pausing production at six of its facilities. Shares tumbled 15.78%.
• Krispy Kreme crashed 24.71% after the donut chain paused its deal with McDonald’s, scrapped its dividend to save money, and pulled its fiscal guidance.
• Fortinet dropped 8.41% after the cybersecurity company beat analyst forecasts but projected lower revenue in the current quarter than initially expected.
• Pharma stocks fell across the board on reports that President Trump will slash drug costs with revisions to Medicare pricing. Eli Lilly lost 3.25%, Bristol Myers sank 1.55%, and AbbVie fell 1.33%.

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

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