DAILY UPDATE: Uber, Lyft and MSFT as the Stock Markets Rally

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 benchmarks ended:

  • The S&P 500 index gained 26.41 points (0.5%) to 5,214.08; the Dow Jones Industrial Average rose 331.37 points (0.9%) to 39,387.76; the NASDAQ Composite® ($COMP) advanced 43.51 points (0.3%) to 16,346.26.
  • The 10-year Treasury note yield (TNX) lost more than 2 basis points to 4.459%.
  • The CBOE Volatility Index® (VIX) fell 0.31 to 12.69.

Interest-rate-sensitive sectors, such as real estate and utilities, were among the strongest performers Thursday. Energy shares were also strong after WTI Crude Oil (/CL) futures rose for a second straight day after sinking to a two-month low earlier this week. Semiconductor shares were under pressure after disappointing revenue guidance from chip designer Arm Holdings (ARM) sent its shares down 2.3%.

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The Dow jumped for the seventh straight day while the S&P 500 closed above 5,200 for the first time in a month as stocks climbed across the board, possibly a reaction to data showing that the cooling labor market could translate into a Federal Reserve interest rate cut in a few months. But, Roblox, tanked 22% yesterday after the company cut its annual bookings forecast. The rough patch suggests that the game’s pandemic-induced popularity has likely peaked.

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Last year, Uber boasted its first full-year profit since going public. But yesterday, the company reported a surprise loss for the first quarter of 2024, dashing investors’ hopes for steady profits and sending its stock way down.

Meanwhile, Uber’s smaller rival Lyft appears to have its foot on the gas pedal. It posted better-than-expected quarterly results on Tuesday and saw a stock bump yesterday.

Microsoft plans to put the cash toward creating an AI data center. President Biden was on hand in Wisconsin to help announce the news—and not just to tout a big investment that’s expected to create jobs.

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COMPUTING: Intel, Amazon and Microsoft

By Staff Reporters

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Intel revealed that its semiconductor-making unit lost $7 billion last year. The news sent the company’s stock down.

And, Amazon is laying off hundreds of employees from its cloud computing division, including the team overseeing its cashierless tech (and not just the Just Walk Out feature it’s pulling from stores), as well as people sales and marketing roles.

Finally, Microsoft and Quantinuum said they’ve had a major quantum computing breakthrough.

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DAILY UPDATE: OpenAI’s Sam Altman Out – Maybe Not?

By Staff Reporters

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In a shocking move, the OpenAI’s board of directors pushed out CEO Sam Altman, one of the world’s most prominent tech executives. The company said that Altman “was not consistently candid in his communications with the board,” and thus the board lost its confidence in Altman’s ability to lead.

OpenAI, and Altman, became household names this year after the company’s ChatGPT chatbot sparked a frenzy around the field of generative artificial intelligence. OpenAI, which has received $13 billion in investment from Microsoft, is reportedly valued at $86 billion. CTO Mira Murati will keep the CEO seat warm for now.

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STOCK MARKETS: Tech Giants Awakening?

By Staff Reporters

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  • Last week, investors shrugged off debt ceiling worries to send the S&P and the NASDAQ to their best weekly performance since March. Tech stocks have posted impressive gains this year thanks to the hype around artificial intelligence:
  • Four giants that have made a big deal about investing in AI—Meta, Alphabet, Microsoft, and Nvidia—have surged in 2023 and now account for ~15% of the S&P 500’s market capitalization, according to Barron’s.

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ISP Primer for Physicians

Understanding Basic Access and Connectivity

By Carol S. Miller; RN, MBAbiz-book18

To connect with an Internet service, the medical office will need a computer, modem, telephone line and software.  The modem, either external via a connection or internal via a built-in or slot card, takes the digital signals from your computer and converts them to analog signals that your phone line uses.  As a rule of thumb, the faster the better; therefore, the office should have at least a 56 bps or use a DSL line.

Accessing the Internet

To access the Internet, the office must obtain an Internet Service Provider (ISP) such as America Online (AOL), Earthlink, ATT Worldnet, Microsoft Network Premiere (MSN), Hot Link, or others.  The cost varies on the plan selected but usually averages in the range of $10 to $25 per month.  In selecting an ISP, several guidelines need to be considered:

 

  • The major online services often make it very easy to connect to the Internet, but may be more expensive;
  • Many low-priced ISPs may have customer service that matches their prices;
  • In selecting the ISP, make sure the provider has a toll-free or local support telephone line;
  • For a nationwide directory list of ISP providers, go to the Internet site of www.isp.com.

Besides the POTS (plain old telephone service), the physician may wish to have a faster connection to the Internet.  Several options are available.

Cable Modems

Cable connection is very fast, providing a lot of bandwidth (the amount of information that can be sent through a particular communication channel).  As an example, in the time it takes to transfer a half page across a 56K connection, the cable connection can transfer over 25 pages.  As is suggested by the name, the local cable TV provider or community antennae TV (CATV) deliver this service.

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