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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Stat: 40%. That’s how much Tenet Healthcare’s shares jumped in Q1. (Yahoo Finance)

Stat: 12%. This is how much the yen has weakened so far this year against the US dollar, which has people wondering whether the Japanese government will need to intervene. (Bloomberg)

Quote: “We believe the opportunity ahead is significant.”—RJ Scaringe, CEO and co-founder of Rivian, commenting on Volkswagen Group’s plans to invest as much as $5 billion in the EV company. (CNBC)

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

What’s up

• McCormick & Co rose 4.34% after the company posted spicy earnings results, absolutely crushing estimates.
• Arista Networks rose 3.92% after Citigroup reiterated its buy rating for the cloud company but increased its price target from $330 to $385.
• BlackBerry is still a company, and rose 10.41% after a berry good first quarter.

What’s down

• Walgreens Boots Alliance plummeted 22.16% due to a worse-than-expected earnings report that saw the company slash its full-year guidance.
• Hims & Hers dropped 7.19% after Hunter Growth Capital accused the company of using a shady supplier for its new weight-loss drugs.
• Levi Strauss crashed 15.27% in a denim downfall for the ages, with second quarter earnings missing expectations after consumers spent less on blue jeans.
• Micron Technology slid 7.12% despite beating analyst expectations in the third quarter. Unfortunately, management isn’t as bullish as analysts about the rest of the year.
• Chewy fell 0.03% despite a tweet from Roaring Kitty of a cartoon dog—which is apparently all it takes to move markets these days.

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The U.S. government’s final gross domestic product (GDP) estimate announced early Thursday included a downward revision to quarterly consumer spending.

Treasury yields could move on the data, especially if the report is “hotter” than expected. Yields fell Thursday following mostly soft U.S. economic readings this morning.

Here’s where the major benchmarks ended:

• The S&P 500^® index (SPX) rose 4.97 points (0.1%) to 5,482.87; the Dow Jones Industrial Average^® ($DJI) rose 36.26 points (0.1%) to 39,164.06; the NASDAQ Composite^® ($COMP) rose 53.53 points (0.3%) to 17,858.68.
• The 10-year Treasury note yield lost two basis points to 4.29%.
• The CBOE Volatility Index^® (VIX) fell to 12.29, its lowest close since June 13.

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