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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Rosh Hashanah, the Jewish New Year, begins tonight and ends on Friday. Shana Tova to those celebrating.

Microsoft overhauled its Copilot AI assistant, adding voice and vision capabilities to make it more personalized.

A new report from Deloitte reveals improving health equity could increase the country’s GDP by $2.8 trillion by 2040 and increase U.S.-based corporate profits by $763 billion.

And … Johnson & Johnson’s is not moving forward with implementation of its proposed rebate model after HRSA push-back.  

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

What’s up stocks

• Caesars Entertainment popped 5.27% after it announced it will buy back $500 million in common shares while also offering $1 billion in senior notes to raise money.
• Joby Aviation surged 27.92% on the news that Toyota will invest another $500 million in the aviation startup as it attempts to build a flying electric taxi.
• Lamb Weston Holdings rose 2.62% thanks to a strong earnings report and a comprehensive restructuring plan for the french fry titan.
• Novavax soared 19.16% following a glowing report from Jefferies analysts citing the pharma company’s strong vaccine sales.

What’s down stocks

• Tesla sank 3.49% after revealing that auto deliveries for the third quarter came in lower than analysts expected.
• Ford fell 2.51% for pretty much the same reason, reporting disappointing sales growth in the third quarter.
• It’s never a good thing when a company pulls its guidance, and that was certainly true for Nike today. Shares dropped 6.77% after the company postponed its investor day and reported a 10% year over year decline in sales.
• Nike’s report was so bad that shares of Foot Locker and Dick’s Sporting Goods fell 2.97% and 0.23%, respectively.
• Humana plummeted 11.79% on the news that membership in its 4 star-rated Medicare Advantage plans plunged 94%.
• Conagra Brands dropped 8.07% after the packaged food giant missed on both sales and earnings estimates last quarter.

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

Here’s where the major benchmarks ended:

• The S&P 500^® index (SPX)was little changed at 5,709.54; the Dow Jones Industrial Average ($DJI) rose 39.55 points (0.09%) to 42,196.52; the NASDAQ Composite^® ($COMP) gained 14.76 points (0.08%) to 17,925.12.
• The 10-year Treasury note yield (TNX) added 5 basis points to 3.78%. 
• The CBOE Volatility Index^® (VIX) edged 0.4 points lower to 18.86.

CITE: https://tinyurl.com/tj8smmes

CVS is laying off nearly 3,000. The healthcare giant is conducting a strategic review as its stock has fallen more than 20% this year, the Wall Street Journal reported

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