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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The prices hospitals charge for their services have long been opaque, but thanks to a 2021 hospital price transparency law, the picture is starting to come slightly into focus. And it turns out, there are some huge disparities in the prices hospitals charge that can’t be attributed to quality of care, according to a recent study from research institute Rand Corporation.
CITE: https://www.r2library.com/Resource
🟢 What’s up
- Foot Locker shares rose 14.90% after the company announced stellar earnings that illustrated management’s turnaround plans are clearly working.
- Best Buy shares were up 13.39% today after the company announced it beat earnings estimates but missed on revenue.
- HP shares popped 16.95% thanks to strong earnings results and its value as a sneaky AI investment.
- C3.ai soared 19.48% after announcing beat-and-raise earnings results.
- Birkenstock rose 11.65% after announcing beats on earnings and revenue, as well as strong consumer demand despite inflation.
- Burlington Stores boomed 17.52% after announcing estimate-beating earnings as well as strong margin growth.
What’s down
- Salesforce is down 19.73% after the cloud computing company missed revenue estimates for the first time since 2006 and projected slower sales in the coming quarter. Turns out not even commercials featuring hunky Matthew McConaughey could save the company’s quarter.
- UIPath shares plummeted 34.06% after announcing disappointing results and lower forward guidance, and to add insult to injury got hit with an analyst downgrade from Bank of America.
- Build-A-Bear Workshop got the stuffing knocked out of it, dropping 13.92% after it missed estimates on both the top and bottom lines.
- Hormel sank 9.69% after missing earnings thanks to slower retail sales offsetting higher meat prices, leaving shareholders stuck eating bologna sandwiches for lunch.
- Kohl’s dropped 22.88% in its worst day ever after the company announced a terrible quarter and forecast more issues ahead due to customers contending with inflation.
Here’s where the major benchmarks ended:
- The S&P 500® index (SPX) fell 31.47 points (0.6%) to 5,235.48; the Dow Jones Industrial Averagedropped 330.06 points (0.9%) to 38,111.48; the NASDAQ Composite® ($COMP) declined 183.50 points (1.1%) to 16,737.08.
- The 10-year Treasury note yield (TNX) lost more than 7 basis points to 4.548%.
- The CBOE Volatility Index® (VIX) rose 0.19 to 14.47.
Interest-rate-sensitive sectors including banks and utilities were among the stronger performers Thursday, boosted by a pullback in Treasury yields from four-week highs posted earlier in the week. Stocks are still heading for a down week, with the S&P 500 on track for its first weekly decline out of the past six.
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Legal cannabis is a booming industry: An estimated $38.4 billion in medical and recreational cannabis was sold in the US in 2023, and that figure is projected to rise to $56.9 billion by 2028. The industry has grown an average of 29.1% per year between 2018 and 2023, according to IBISWorld.
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