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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 stock market benchmarks ended:

• The S&P 500^® index (SPX) rose 30.81 points (0.5%) to 5,615.35, up 0.9% for the week; the Dow Jones Industrial Average^® ($DJI) rose 247.15 points (0.6%) to 40,000.90, up 1.6% for the week; the NASDAQ Composite^® ($COMP) added 115.04 points (0.6%) to 18,398.44, up 0.3% for the week. Both the SPX and $DJI set intraday record highs today.
• The 10-year Treasury note yield closed basically unchanged just below 4.19%.
• The CBOE Volatility Index^® (VIX) fell slightly to 12.49.

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

What’s up

• Trump Media & Technology Group climbed 3.40% as President Biden’s recent stumbles seem to be breathing new life into the stock.
• Tesla rose 2.99%, nearly recovering from yesterday’s drop over robotaxi delays, despite a UBS analyst downgrading the company to “sell.”
• Deckers Outdoor recovered 1.14% when the board announced a 6-for-1 stock split just a few days after M Science analysts warned investors away from the company.
• Array Technologies popped 8.69% thanks to an upgrade from Citi analysts from “neutral” to “buy” citing the company’s strong long-term prospects. Competitor Enphase Energy jumped 6.85% in sympathy.
• Carvana soared 4.80% after BTIG analysts initiated coverage of the company with a “buy” rating and a price target 7% higher than where shares trade today.
• Home builder stocks continued their climb today on higher hopes of rate cuts. D.R. Horton rose 2.68%, Builders FirstSource jumped 3.99%, and even Home Depot got in on the action and rose 1.70%.

What’s down

• AT&T slid 0.21% after Ma Bell announced that hackers had stolen information about virtually every single one of the cell carrier’s customers. Shares of cybersecurity company Snowflake sank 1.74% on the news as well.
• Delta Air Lines fell another 3.06% as turbulence throughout the airline industry continued to weigh the stock down.
• Arbor Realty Trust plummeted 17.03% after the Justice Department announced a probe of the company due to improper lending practices.
• Vita Coco dropped 9.07% thanks to a downgrade to “neutral” from Piper Sandler analysts. Are you telling me that a company that just sells coconut water isn’t actually worth $1.58 billion? Now that’s just vita loco!

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

Here’s a list of some corporate earnings announcements next week:

• Monday: Goldman Sachs, BlackRock.
• Tuesday: Bank of America, Morgan Stanley, PNC Financial Services, and Charles Schwab. We’ll also hear from UnitedHealth Group, Progressive, and J.B. Hunt.
• Wednesday: ASML, Citizens Bank, Ally Financial, Synchrony Financial, and U.S. Bancorp will wrap up the big financial names. Plus Johnson & Johnson, Kinder Morgan, United Airlines, and Alcoa.
• Thursday: The busiest day of the week includesNetflix, Domino’s Pizza, Abbott Laboratories, Nokia, D.R. Horton, Intuitive Surgical, and much more.
• Friday: The week wraps up with American Express, Schlumberger, and Halliburton.

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A federal judge on Friday sentenced former Georgia Insurance Commissioner John Oxendine to serve three and a half years in prison after Oxendine pleaded guilty to healthcare fraud. U.S. District Judge Steve Jones, at a hearing in Atlanta, also ordered Oxendine to pay a $25,000 fine and to share in $760,000 in restitution with Dr. Jeffrey Gallups.

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