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DAILY UPDATE: Mayo Clinic Operating Margin Up as Domestic Stocks Crushed Down!

Posted on March 11, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

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Stat: 6.5%. That was the size of Mayo Clinic’s operating margin in 2024, with an operating income of $1.3 billion. (Becker’s Hospital CFO Report)

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US stocks plunged on Monday as investors processed growing concerns about the health of the US economy after President Trump and his top economic officials acknowledged the possibility of a potential rough patch.

The Dow Jones Industrial Average (^DJI) fell nearly 900 points, or over 2%, while the benchmark S&P 500 (^GSPC) dropped around 2.7% after the index posted its worst week since September. The tech-heavy NASDAQ Composite (^IXIC) fell 4% in its worst day since 2022, as the “Magnificent Seven” stocks led the sell-off. Tesla’s (TSLA) rout continued, plunging 15% and officially wiping out the gains it had made in the wake of Trump’s election win. Nvidia (NVDA), Apple (AAPL), Google parent Alphabet (GOOG), and Meta (META) all each lost more than 4%.

Key inflation data includes the Consumer Price Index (CPI) and Producer Price Index (PPI) on Wednesday and Thursday could help set the tone, though economic growth concerns seem to have replaced inflation as the prime concern. The S&P 500 index (SPX) dropped more than 3% last week, the worst performance since September.

However, the U.S. economy “is in a good place” despite recent policy uncertainty, Federal Reserve Chairman Jerome Powell said Friday. He sees no need to hurry rate cuts until there’s more policy clarity, Bloomberg reported. Stocks rallied on Powell’s words late Friday, but Monday’s early action indicates that rallies continue being sold, and the Cboe Volatility Index (VIX) rose above 26 as investors piled into risk-off assets like bonds. The 200-day moving average of 5,734 for the SPX remains a key technical support area, and the SPX was on pace to open below that Monday, now more than 6% off of all-time highs but not yet in –10% correction territory.

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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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Filed under: "Ask-an-Advisor", Drugs and Pharma, Ethics, Information Technology, Investing, Marcinko Associates, Recommended Books, Sponsors | Tagged: books, CBOE, CPI, DJIA, DOW, Federal Reserve, Financial Planning, FOMC, FTC, Investing, Marcinko, Mayo clinic, NASA, NASDAQ, Powell, PPI, reviews, S&P 500, Schwab, SPX, stocks, textbooks, TNX, VIX, Volatility Index | Leave a comment »

DAILY UPDATE: Intel Suspends Dividend as Major Stock Index Climbs

Posted on November 30, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Computer company Intel didn’t just lower its dividend; it suspended it entirely earlier this year. The company’s CEO Pat Gelsinger said that the move was necessary due to liquidity needs and for the business to be able to “support the investments needed to execute our strategy.” Intel has been investing heavily in its foundry business, which has been a challenge. In the company’s most recent quarter, which ended on September 28th, the foundry business incurred an operating loss of $5.8 billion — more than four times the $1.4 billion loss it reported a year earlier.

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Here’s where the major benchmarks ended:

The SPX gained 33.64 points (0.6%) to 6,032.38; the $DJI rose 188.59 points (0.4%) to 44,910.65; and the NASDAQ Composite^® ($COMP) advanced 157.69 points (0.8%) to 19,218.17.
The 10-year Treasury note yield fell five basis points to 4.19%.
The CBOE Volatility Index^® (VIX) gave back 0.59 points to 13.51.

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DAILY UPDATE: Record Stock Market Blast Off Post Trump Presidential Election

Posted on November 7, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Stocks Up

One more group of stocks that soared on a Trump election: Big Tech companies with antitrust problems. Another Trump presidency should go a long way toward clearing up the regulatory hurdles many companies have faced recently, which is why Alphabet popped 3.99% and Amazon rose 3.8%.
CVS Health surged 11.33% after meeting revenue forecasts but missing earnings expectations. However, the miss was due to a one-time charge, so shareholders quickly forgave the healthcare retailer.
Planet Fitness gained 6.09% on a surprise bid for bankrupt fitness chain Blink Holdings in an attempt to bolster its own gym business.

Stocks Down

Super Micro Computer had a chance to show the world it wasn’t committing the fraud it has recently been accused of. Instead, the company announced it is still unable to determine when it will file the quarterly report due August 29. Shares crashed 18.05%.
Home builder stocks sank on fears that a Trump presidency will slow the rate of Fed rate cuts, keeping mortgage rates higher for longer. DR Horton fell 3.8%, Lennar dropped 4.84%, Pulte Group lost 3.09%, and Toll Brothers tumbled 1.46%.
Cannabis stocks were betting big on a ballot measure in Florida to allow the sale of recreational marijuana. The initiative’s failure sent shares of Curaleaf plummeting 29.17%, Trulieve Cannabis plunged 38.8%, and Ayr Wellness sank 55.87%.

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 146.28 points (2.53%) to 5,929.04; the Dow Jones Industrial Average^® ($DJI) added 1,508.05 points (3.57%) to 43,729.93; and the NASDAQ Composite^® ($COMP) gained 544.29 points (2.95%) to 18,983.47—a new closing high.
The 10-year Treasury note yield (TNX) surged 14 basis points to 4.43%, its highest level since July.
The CBOE Volatility Index^® (VIX) fell sharply to 16.3 as election-related uncertainty diminished.

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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Ford, Peloton and Starbucks as Stocks Climb

Posted on November 2, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Ford paused production of its F-150 Lightning electric truck from mid-November to early January as demand for the once-coveted EV dwindles.

Peloton named Peter Stern, the co-founder of Apple Fitness+, as its next CEO.

Starbucks is bringing back Sharpied names on cups for the first time in four years as new CEO Brian Niccol tries to shake up the struggling coffee chain.

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STOCKS UP

Boeing offered striking machinists yet another new contract offer, including a 38% pay raise over the next four years. The union will vote on the contract on Monday. Shares climbed 3.54%.
Avis Budget motored 10.92% higher despite missing forecasts on both earnings and revenue. Shareholders celebrated the rental car company’s strong growth expectations from management and took advantage of a cheap valuation.
Globalstar rocketed 32.38% after the satellite communications company announced an expanded deal with Apple.
Charter Communications soared 11.87% after losing fewer subscribers than expected, which is like a back-handed compliment in the investing world.

STOCKS DOWN

Trump Media & Technology Group remains on the roller coaster, falling another 13.53% today as early exit polls show Vice President Kamala Harris with a lead in several key states.
Wayfair may have met earnings expectations last quarter, but the online home goods retailer also lost customers and fulfilled fewer orders. Shares fell 6.26%.
Super Micro Computer continued to sell off after the resignation of its financial auditor, an almost-sure sign of fraud. Shares sank another 10.51%.

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The S&P 500^® index (SPX) rose 23.35 (0.41%) to 5,728.80 to end the week down 1.37%; the Dow Jones Industrial Average^® ($DJI) added 288.73 points (0.69%) to 42,052.19 to end the week down 0.15%; and the NASDAQ Composite^®($COMP) gained 144.76 points (0.80%) to 18,239.92 to end the week down 1.50%.
The 10-year Treasury note yield (TNX) climbed eight points to 4.36%, the highest since early July.
The CBOE Volatility Index^® (VIX)remained elevated at 21.88.

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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Technology Tanks Stock Markets

Posted on November 1, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Stat: 25%. That’s how much shares of Reddit shot up after the social media company reported a profit for the first time. (Business Insider)

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What was up

Comcast popped 3.39% on the news that it is exploring a separation of its cable business. The network operator got a boost this quarter from the Olympics, but still lost 365,000 cable TV customers.
Peloton Interactive pedaled 27.82% higher after the bike maker beat earnings expectations and introduced a new CEO.
Carvana accelerated 19.23% on an impressive beat-and-raise earnings report that caps off the car seller’s incredible comeback.
Booking Holdings, owner of Kayak and Priceline, hit a record high after the travel company reported shockingly strong earnings. Shares rose 4.76%

What was down

Trading in shares of Trump Media & Technology Group was halted yet again today after the meme stock sank dramatically to start the day. Shares ended the trading session down 11.72%.
Estee Lauder plummeted 20.84% on a triple whammy of bad news: The cosmetics retailer missed earnings estimates, pulled its forecast, AND cut its dividend. Ouch.
Nikola dropped 7.09% after the EV startup announced a larger-than-expected loss last quarter.
Super Micro Computer continued to tumble today, declining another 11.97% as the fallout from the resignation of its financial auditor raises the threat of the semiconductor stock getting delisted from the Nasdaq.
eBay sank 8.18% after beating earnings expectations but issuing disappointing earnings guidance heading into the holiday season.

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

Here’s where the major benchmarks ended:

The SPX fell 108.22 (–1.86%) to 5,705.45; the Dow Jones Industrial Average^® ($DJI) dropped 378.08 points (–0.90%) to 41,763.46; and the NASDAQ Composite^® ($COMP) lost 512.78 points (–2.76%) to 18,095.15 and has now fallen in two of the last four months.
The 10-year Treasury note yield (TNX) added two basis points to 4.28%.
The VIX rose to 22.6, the highest since October 8.

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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Health-Care’s Future as Stocks Climb

Posted on October 29, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Healthcare’s future as HSBC Innovation Banking collaborated with LINUS and HLTH to help prepare the healthcare ecosystem for the future. The Health 2035 report goes in depth with discussions between visionaries in the ecosystem and studies of young physicians’ forecasts for what the state of care will be in the year 2035. Download the report.

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Stocks Up

Trump Media & Technology Group soared 21.59% following a major rally at Madison Square Garden, an appearance on Joe Rogan’s podcast, and rising chances of winning the election. Fun fact: After this latest stock surge, Trump Media is now worth almost as much as social media network X.
Nio surged 10.46% thanks to an upgrade from Macquerie, whose analysts believe that the EV startup could see strong growth from new vehicle launches next year.
Spotify has earned a spot on Wells Fargo’s top pick playlist, with analysts confident the stock could rise over 20%. Shares rose 1.27%.
Lower oil prices hurt energy stock, but are a big boost for companies that spend a lot on fuel. Carnival Corp rose 4.83%, Royal Caribbean Cruises climbed 1.35%, and American Airlines popped 3.42%.

Stocks Down

Philips floundered 15.95% after the Dutch consumer goods manufacturer missed on earnings and lowered its full-year forecast.
Boeing continued to fall yet another 2.79%, this time on the news that it is raising $19 billion through a stock offering in the hopes that it fends off a credit rating downgrade.
Oil stocks took a beating thanks to a big decline for crude prices. Diamondback Energy fell 3.36%, APA Corp. dropped 4.51%, Exxon Mobil sank 0.49%, and BP lost 1.48%.

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX)rose15.40points (0.27%) to 5,823.52; the Dow Jones Industrial Average^® ($DJI) added 273.17 points (0.65%) to 42,387.57; and the NASDAQ Composite^® ($COMP) gained 48.58 points (0.26%) to 18,567.19.
The 10-year Treasury note yield (TNX) climbed six basis points to 4.29%, the highest close since July 9.
The VIX fell to 19.53.

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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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Filed under: Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, iMBA, Inc., Information Technology, Investing, Marcinko Associates, mental health, Quality Initiatives, Recommended Books, Sponsors | Tagged: business, DJIA, DOW, finance, Healthcare's future, HLTH, HSBC Banking, iMBA, Investing, LINUS, Marcinko, Medical Business Advisors Inc, medical executive post, NASA, NASDAQ, S&P 500, SPX, stock market, stocks, textbooks, TNX, VIX, WSJ | Leave a comment »

DAILY UPDATE: 2025 IRS Tax Brackets as Stock Markets Barely Budge

Posted on October 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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The IRS has announced the annual inflation adjustments for the year 2025, including tax rate schedules, tax tables and cost-of-living adjustments. These are the official numbers for the tax year 2025—that tax year begins January 1, 2025. These are not the numbers that you’ll use to prepare your 2024 tax returns in 2025 (you’ll find those official 2024 tax numbers here). These are the numbers that you’ll use to prepare your 2025 tax returns in 2026.

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STOCKS UP

Philip Morris International was smoking hot today, rising 10.47% to a record high thanks to strong demand for its Zyn nicotine pouches.
Americans just love a pickup truck: General Motors revved 9.85% higher on an impressive beat-and-raise earnings report.
Trump Media & Technology Group rose 9.87% to its highest level since July as the “Trump trade” wagering on the former president to regain the White House picks up steam.
Quest Diagnostics isn’t just a sad, windowless building where you get your blood drawn—it’s also been a pretty profitable investment. Shares rose 6.88% on strong earnings and revenue growth.

STOCKS DOWN

Stop us if you’ve heard this one before: Target is cutting the price of 2,000 products ahead of the holiday season. Shares sank 1.13% as shareholders digest what appears to be a desperate move to boost sales.
Verizon Communications dropped 5.03% after missing on both revenue and earnings estimates. But the real problem was slowing customer growth and phone sales.
Defense contractors were in the earnings spotlight today, and none of them did well. GE Aerospace tumbled 9.07% despite beating analyst forecasts and Lockheed Martin fell 6.12% after sales missed estimates.
Genuine Parts, better known as NAPA Auto Parts, plummeted 20.96% after earnings missed estimates and the company announced lower fiscal year forecasts.

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Here’s where the major benchmarks ended:

The SPX fell 2.78 points (–0.05%) to 5,851.20; the Dow Jones Industrial Average^® ($DJI) lost 6.71 points (–0.02%) to 42,924.89; and the $COMP gained 33.12 points (0.18%) to 18,573.13.
The 10-year Treasury note yield (TNX) added two basis points to 4.2%.
The CBOE Volatility Index^®(VIX) fell to 18.15, down from above 20 a week ago.

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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: CVS Health and AI Healthcare Chatbots as Stocks Reach New Highs

Posted on October 19, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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CVS Health may be breaking up…with itself. The board of directors at CVS Health—the parent company of CVS Pharmacy, pharmacy benefit manager CVS Caremark, and insurance unit Aetna—are working with a group of bankers to review the company’s strategy, which according to Reuters, may lead to a split between its pharmacy division and Aetna.

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Stocks Up

Apple climbed 1.23% on a Bloomberg report that iPhone 16 demand has been shockingly strong in China.
Verizon Communications will purchase $1 billion worth of US Cellular’s wireless spectrum licenses. Verizon rose just 0.34%—but it’s a huge deal for US Cellular, which popped 7.22%, and Telephone and Data Systems, which owns 82% of US Cellular, and soared 15.40%.
Intuitive Surgical rose to a new all-time high, climbing 10.01% on strong earnings powered by sales of its da Vinci device.
Lamb Weston, the company behind the french fries you overindulge in every time you go out to dinner, is being pushed by activist investor Jana Partners toward exploring a sale. Shareholders rejoiced, and the stock rose 10.17%.

Stocks Down

CVS Health sank 5.23% on the news that CEO Karen Lynch will be replaced by David Joyner after three years at the helm of the struggling pharmacy/retailer. Joyner ran the company’s pharmacy service business for the last two years.

WD-40 seems like the staple of all consumer staples, but the company missed on both revenue and earnings estimates last quarter. Shares fell 4.79% on the news.
American Express dropped 3.15% after the credit card company reported a rare miss today, beating bottom-line estimates but missing revenue forecasts last quarter.
MGP Ingredients makes all the booze you drink under different brand names, but people aren’t drinking enough. The beverage maker issued preliminary earnings that included a 24% drop in sales. Shares tanked 24.16%.

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

Here’s where the major stock market benchmarks ended:

The S&P 500^® index (SPX)rose 23.20 points (0.40%) to 5,864.67, a new record high close, to end the week up 0.85%; the Dow Jones Industrial Average^® ($DJI) added 36.86 points (0.09%) to 43,275.91, also another record high finish, to end the week up 0.96%; and the $COMP gained 115.94 points (0.63%) to 18,489.55 to end the week up 0.80%.
The 10-year Treasury note yield (TNX) fell two basis points to 4.07%.
The CBOE Volatility Index^®(VIX) fell to 18.17, the lowest since September 30.

CITE: https://tinyurl.com/tj8smmes

A new survey results may prompt health systems to second-guess some of their future plans. A recent University of Michigan survey found 74% of adults ages 50+ have “very little or no trust” in health info generated by AI. Maybe it’s not time to roll out chatbots on patient portals just yet.

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DAILY UPDATE: Goldman Sachs, Starbucks and Walgreens as Stock Markets Boost Up

Posted on October 17, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Goldman Sachs’ profit jumped 45% in monster quarter. The investment bank made $3 billion of profit on revenue of nearly $13 billion in Q3, it reported yesterday, surpassing even the rosiest of expectations. Bloomberg reported that it was the best quarter ever for Goldman’s stock trading unit, putting the group on track for a record year.

Walgreens said it will close 1,200 US stores, about one in seven locations, by 2027. The retailer will shutter 500 stores by the end of next year.

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UP STOCKS

Trump Media & Technology Group has had a wild week, falling nearly 10% yesterday before trading of the stock was halted, then popping 15.52% today. Election hype, a Trump-sponsored cryptocurrency, and Truth+, a new streaming service, are keeping shareholders on their toes.

Abbott Laboratories rose 1.53% thanks to a stronger-than-expected earnings report powered by the company’s impressive medical device sales.
Aspen Aerogels makes insulating material for batteries, which sounds boring to everyone but the Department of Energy. The DOE signed a conditional commitment to loan the company up to $670 million, sending shares 13.24% higher.

DOWN STOCKS

Novavax plummeted 19.44% after the FDA put a hold on the pharma company’s flu and Covid vaccine combination.
ASML Holding NV dropped another 6.42% today as the semiconductor selloff continues.
Interactive Brokers enjoyed higher revenue and more trading from its user base last quarter, but earnings per share came in under expectations, and shares sank 4.05%.

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Here’s where the major benchmarks ended:

The SPX rose27.21points (0.47%) to 5,842.47; the Dow Jones Industrial Average^® ($DJI) added 337.28 points (0.79%) to 43,077.70; and the NASDAQ Composite^®($COMP) increased 51.49 points (0.28%) to 18.367.08.
The 10-year Treasury note yield (TNX) fell two basis points to just below 4.02%, the lowest close since October 4.
The CBOE Volatility Index^®(VIX) dropped moderately to 19.58, still elevated considering stock market strength.

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Starbucks is reportedly pivoting from discounts and promotions to refocus on selling premium coffee and seasonal drinks

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Ikea & Fidelity Investments with SPX Bank at New High

Posted on October 12, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Ikea’s revenue fell for the first time in four years after it lowered prices to spark an increase in orders.

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Stocks up

Fastenal climbed 9.76% after the construction and hardware equipment manufacturer posted stronger-than-expected revenue last quarter.
Symbotic popped 8.80% on news of a deal with the Walmart division of Mexico and Central America for its AI-powered robots to help with warehouse automation.
Affirm soared 12.07% after Wells Fargo analysts upgraded the buy now, pay later company thanks to its partnership with Apple Pay.
Ferrari raced 3.54% higher thanks to an upgrade from JPMorgan analysts, citing the carmaker’s EV division and hopes of a Chinese market recovery.

Stocks down

Stellantis continued to tumble today, falling another 2.22% after the carmaker announced its CEO will step down in early 2026.
A.O. Smith probably doesn’t ring a bell, but there’s a good chance they made the water heater in your basement. Unfortunately, they’re not selling too many these days, and shares sank 6.25% after the company cut its full-year outlook.

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

Here’s where the major benchmarks ended:

The SPX rose 34.98 points (0.61%) to 5,815.03 to end the week up 1.11%; the $DJI added 409.74 points (0.97%) to 42,863.86 to end the week up 1.21%; and the $COMP gained 60.88 points (0.33%) to 18,342.94 to end the week up 1.13%.
The 10-year Treasury note yield (TNX) fell two basis points to 4.07% but rose nine basis points this week.
The CBOE Volatility Index^®(VIX) slipped to 20.41, still up slightly for the week.

CITE: https://tinyurl.com/tj8smmes

Fidelity Investments has notified 77,099 people that their personal information was stolen in an August data breach. he mega asset manager has not disclosed what data the digital crooks nabbed, but assured customers that the security snafu “did not involve any access to your Fidelity account(s).” But hey, no worries, the firm claimed no evidence of data misuse.

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DAILY UPDATE: CPI, PepsiCo and Health Insurance Premiums as Stocks Drift Off Recent Highs

Posted on October 11, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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The Consumer Price Index rose 2.4% in the 12-month period that ended in September, while a gauge that strips out food and energy prices was 3.3%, the government said yesterday.

Stat: 7%. That’s how much employer health insurance premiums increased this year, after rising by the same margin last year. Family coverage this year costs roughly $25,500 for employers and employees. (the Wall Street Journal)

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Stocks up

Celsius Holdings, makers of those disgusting energy drinks your 12-year-old cousin chugs, soared 14.42% after analysts from Stifel and Piper Sandler gave it a vote of confidence.
Crowdstrike enjoyed a rare bump 5.56% higher today after RBC Capital analysts named the company one of the top software stocks of 2025. Speaking of, Delta Air Lines announced it took a $380 billion hit last quarter due to the Crowdstrike outage. Shares of the airline sank 1.16% after earnings.
CVS Health rose 1.35% after an upgrade from Barclays analysts who think the company’s Medicare business should recover nicely.
GXO Logistics, a supply-chain management company, popped 14.11% on a report from Bloomberg that the company is exploring a potential sale.

Stocks down

10X Genomics, which sounds like the bad guys that accidentally release a military-grade virus in a zombie movie, fell 24.70% after it announced preliminary results that disappointed shareholders.
Toronto-Dominion Bank dropped 5.29% on the news that not only will the Canadian bank pay US regulators $3 billion in penalties, but its retail business growth will be limited in the US. All that for failing to stop drug cartels from laundering money.
First Solar sank 9.29% after Jefferies analysts cut their price target on the solar power panel maker, citing production delays hurting the company’s bottom line. The report sent shares of competitors Enphase Energy and SolarEdge Technologies tumbling 5.82% and 4.32%, respectively.
PayPal lost 3.27% thanks to a report from Bernstein analysts who downgraded the stock on fears that Venmo could lose market share to competitors.

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) lost 11.99 points (–0.21%) to 5,780.05; the Dow Jones Industrial Average^® ($DJI) fell 57.88 points (–0.14%) to 42,454.12; and the NASDAQ Composite^® ($COMP) dropped 9.56 points (–0.05%) to 18,282.05.
The 10-year Treasury note yield (TNX) rose three basis points to 4.1%, the highest since July 31 and closing in on the 100-day moving average.
The CBOE Volatility Index^®(VIX) was flat at 20.87.

CITE: https://tinyurl.com/tj8smmes

PepsiCo cut its full-year organic revenue guidance as consumers reduced their spending on drinks and snacks, and the company posted “its second straight quarter of weaker-than-expected sales,” CNBC reported.

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DAILY UPDATE: Chevron, the Roaring 20s’ & CPA’s as the Stock Markets Sag

Posted on October 2, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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The FTC said it would allow Chevron’s $53 billion purchase of Hess, but it barred Hess CEO John B. Hess from sitting on Chevron’s board over his communications with OPEC.

Soon, students may not need an extra year of college to attain CPA licensure. The AICPA and NASBA have proposed a “competency-based experience pathway” to licensure—with no post-bachelor’s coursework required.

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What’s up

Energy was the top-performing sector in the S&P 500 today thanks to rising fears of fighting between Iran and Israel. APA Corp. rose 4.91%, Halliburton climbed 3.10%, and Occidental Petroleum gained 3.33%.
Defense stocks rose for much the same reason, with Lockheed Martin up 3.66%, Northrop Grumman trading 3.04% higher, and L3Harris Technologies up 3.03%
Hess Corp. and Chevron rose after the FTC declared that, as long as John Hess isn’t allowed to sit on the board, the two companies might be allowed to merge. Shares of Hess gained 2.34%, while Chevron climbed 1.68%.
New Fortress Energy popped 6.49% on the news that it has priced a public offering of 46 million shares at $8.46 per share. That will go a long way to helping the struggling energy stock rake in some much-needed cash.
Arcos Dorados, the world’s biggest McDonald’s franchisee, jumped 14.56% after it renewed its agreement with McDonald’s, locking down a flat royalty rate for the next decade.

What’s down

Signet Jewelers fell 7.91% on the news that CEO Virginia Drosos, who has led the company to strong success over the past seven years, will retire.
HP sank 3.09% after Citi analysts downgraded the company based on lower PC and printer demand in the years ahead.
Disney received a rare analyst downgrade today from Raymond James analysts, who think that theme park attendance will continue to slow in the next 12 to 18 months. Shares dropped 2.14%.
Amentum Holdings plummeted 20.16% only a day after the engineering services company debuted on the S&P 500.

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

Here’s where the major stock market benchmarks ended:

The S&P 500^® index (SPX)fell 53.73 points (–0.93%) to 5,708.75; the Dow Jones Industrial Average^® ($DJI) declined 173.18 points (–0.41%) to 42,156.97; the NASDAQ Composite^® ($COMP) lost 278.81 points (–1.53%) to 17,910.36.
The 10-year Treasury note yield (TNX) fell six basis points to 3.74%.
The CBOE Volatility Index^®(VIX) jumped to 19.28, the highest in nearly a month.

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The American economy is seemingly fairing so well that UBS has signaled a potential return to the glory days. The European finance giant believes Uncle Sam is inching closer to a ‘Roaring 20s’ scenario, placing the likelihood of an incoming booming economic cycle at 50%. The phrase goes back to the same decade a century ago, when massive economic growth prompted a construction boom and rising prosperity for families.

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DAILY UPDATE: Health Plan Costs Up and Stock Markets Upbeat

Posted on October 1, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Despite inflation cooling down, employer health plan costs are heating up, according to a September analysis from consulting firm consulting firm Mercer.

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STOCKS UP

CVS popped 2.38% after the Wall Street Journal reported that major shareholder Glenview Capital Management will meet with company executives to discuss potential strategies to improve the sagging stock.
AMC Entertainment jumped 1.11% on the news that it has entered into private deals with debt holders to eliminate $152.9 million in unsecured debt.
Nio drove 2.45% higher thanks to a $2 billion cash injection from key shareholders into the Chinese EV company.

STOCKS DOWN

Stellantis, the European company behind Chrysler, Dodge, and Jeep sank 12.49% after it warned that sales in the second half of its fiscal year will come in lower than expected. The bad news pulled down shares of competitors Aston Martin (which fell 24.51%), Ford (a 2% drop), and GM (3.53% lower today).

Carnival beat top and bottom line estimates last quarter, and posted record revenue for the third quarter. But shares stumbled 0.32% on management’s forecast that earnings in the fourth quarter will disappoint. Rival cruise companies all dropped in sympathy: Royal Caribbean fell 0.10%, while Norwegian Cruise Line Holdings tumbled 2.10%.
Crypto stocks took a beating today after bitcoin’s latest rally fizzled out. Coinbase fell 6.83%, while MicroStrategy lost 4.32%.

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

Here’s where the major stock market benchmarks ended:

The SPX gained 24.26 points (0.42%) to 5,762.48; the Dow Jones Industrial Average^® ($DJI) rose 17.15 points (0.04%) to 42,330.15; the NASDAQ Composite^® ($COMP) added 69.58 points (0.38%) to 18,189.17.
The 10-year Treasury note yield (TNX) climbed five basis points to 3.8%, near the high of its recent range.
The CBOE Volatility Index^®(VIX) eased to 16.66 after climbing above 17 earlier today but remains up from a week ago.

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DAILY UPDATE: State Farm & Berkshire Hathaway as ESG Retreats and Markets Rise

Posted on September 27, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Stat: Over 90%. That’s the percentage of the insurance industry’s uptick in fossil fuel securities investment coming from just two firms, State Farm and Berkshire Hathaway. (The Wall Street Journal)

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Stocks up

Southwest Airlines ascended 5.42% after the company laid out its growth plans in an attempt to fend off an activist investor attack.
Starbucks climbed 1.93% thanks to an upgrade from Bernstein analysts who foresee a “grande comeback” for the coffee chain.
CarMax revved 5% higher after posting strong second-quarter earnings, beating both top and bottom line forecasts.
Jabil jumped 11.65% after the electronics parts manufacturer announced impressive earnings and revealed plans to cut costs.
Bilibili, which sounds like you’re trying to get your friend William’s attention, popped 15.44% after Goldman Sachs analysts upgraded the Chinese internet company.

Stocks down

Super Micro Computer plunged 12.17% on the news that the Department of Justice is launching a probe into the tech company, a few weeks after note short seller Hindenburg Research published a report alleging “accounting manipulation.”
Sonos, makers of your favorite subwoofer, sank 4.45% after a rare “double downgrade” by Morgan Stanley analysts, who demoted the stock from a positive “overweight” all the way to a negative “underweight.”
Oil stocks took a big hit today after Saudi Arabia announced it will increase its oil production next month. Diamondback Energy fell 6.46%, Shell dropped 3.91%, and ConocoPhillips lost 3.23%.

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 23.11 points (0.40%) to 5,745.37; the Dow Jones Industrial Average^® ($DJI) added 260.36 points (0.62%) to 42,175.11; the NASDAQ Composite^® ($COMP) increased 108.08 points (0.60%) to 18,190.29.
The 10-year Treasury note yield (TNX) climbed one basis point to 3.79%.
The CBOE Volatility Index^® (VIX) was steady at 15.57.

CITE: https://tinyurl.com/tj8smmes

A retreat from ESG is due to backlash from conservatives who are critical of the idea that fund managers should be considering any other factor but a company’s shareholders in their investment decisions. Accusations of “greenwashing” have also plagued many ESG funds, which is when an asset management firm charges higher fees for a specific thematic fund without actually delivering a unique investment strategy.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Visa, Coca-Cola, Cardinal & Advocate Health and Obesity as Markets Fall

Posted on September 26, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Cardinal Health has agreed in principle to acquire Integrated Oncology Network for more than $1.1 billion.

And … Advocate Health announced it will wipe clean more than 11,500 judgment liens on patients’ homes and real estate.

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What’s up

Flutter Entertainment, parent company of betting app FanDuel, popped 5.06% after it revealed its impressive growth plans.
Hewlett Packard Enterprise rose 5.05% thanks to an upgrade from Barclays analysts who think that rising AI demand will increase the company’s server revenue.
Trump Media & Technology Group gained 10.48% after shareholders panicked that the end of its lockup period would mean big selling by insiders, fears that haven’t materialized.
Progress Software climbed 11.85% after a strong beat-and-raise earnings report.

What’s down

Southwest Airlines stumbled 4.57% after announcing it will cut service to and from Atlanta, a major hub for air travel, as it looks to save money ahead of a showdown with activist investor Elliott Investment Management.
Bank of America fell just 0.51% on the revelation that Warren Buffett can’t stop selling the stock.
KB Home sank 5.35% after the homebuilder beat revenue estimates but missed on earnings. It also issued a downbeat forecast for the rest of its fiscal year.
Global Payments dropped 6.37% thanks to a downgrade from BTIG analysts who were unimpressed by the payment provider’s near-term growth plans.

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The S&P 500^® index (SPX) fell 10.68 points (–0.19%) to 5,722.25; the Dow Jones Industrial Average^® ($DJI) dropped 293.47 points (–0.70%) to 41,914.75; the NASDAQ Composite^® ($COMP) added 7.68 points (0.04%) to 18,082.21.
The 10-year Treasury note yield (TNX) climbed five basis points to 3.78% and seems stuck in a range between 3.7% and 3.8%.
The CBOE Volatility Index^®(VIX) rose slightly to 15.51, still near its September lows.

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Coca-Cola pulled its new flavor, Spiced, from shelves after just six months because of dis-interest in it.

Visa was sued by the Justice Department for antitrust violations. The DOJ alleged in a complaint filed in Manhattan federal court that the payments giant is illegally monopolizing the debit card market by penalizing merchants who try to use alternatives, Bloomberg reported.

For the first time in more than a decade, the nationwide number of people with obesity hasn’t gone up, according to new CDC data showing that the condition appears in about 40% of US adults.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Exxon Mobil, Medicare Part C, Boeing and UniCredit as Stocks Rise

Posted on September 25, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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California state officials filed a lawsuit against one of the world’s top oil giants accusing Exxon Mobil of driving global pollution by running a “decades-long campaign of deception” that dramatically overstated the effectiveness of plastic recycling. The suit seeks “multiple billions of dollars” in civil damages from Exxon Mobil—a main producer of the petrochemicals used to make single-use plastics—California Attorney General Rob Bonta said.

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

What’s up

Smartsheet popped 6.47% on the news that Blackstone and Vista Equity Partners will pay $8.4 billion in cash to take the software maker private.
Freeport-McMoRan gained 7.95% after the Chinese government announced stimulus plans. Shareholders are hopeful that more economic activity means more business for the copper miner.
Liberty Broadband soared 25.92% thanks to its counterproposal to Charter Communications, asking for a higher payout before an acquisition takes place. Charter shares fell 2.49%.
Thor Industries rose 6.18% after the RV company announced stronger-than-expected earnings.

What’s down

Visa fell 5.36% as the US government sued it over an alleged debit card monopoly.
Regeneron Pharmaceuticals dropped 4.21% due to a federal judge’s ruling that it cannot block a new product from rival pharma company Amgen that mimics its eye-care drug Eylea.

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) added 14.36 points (0.25%) to 5,732.93; the Dow Jones Industrial Average^® ($DJI) rose 83.57 points (0.20%) to 42,208.22; the NASDAQ Composite^® ($COMP) gained 100.25 points (0.56%) to 18,074.52.
The 10-year Treasury note yield (TNX) finished unchanged at 3.74%.
The CBOE Volatility Index^®(VIX) keeps setting new lows for September, dropping to 15.49.

CITE: https://tinyurl.com/tj8smmes

Boeing offers 30% raise in attempt to end strike. With 30,000 factory workers on strike and 737 production halted for a second week, the embattled aviation company offered to hike wages for union members higher than the original 25% increase over four years they voted to reject.

Seniors could see large increases to their Medicare Advantage costs in 2025 as major changes are underway for prescription plans.

German Chancellor Olaf Scholz warned Italian bank UniCredit against “unfriendly” acts after the bank upped its stake in Germany’s Commerzbank, eclipsing the country as its largest shareholder.

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DAILY UPDATE: Apollo, Constellation Energy & the US Health System as S&P 500 Hits New High

Posted on September 24, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Private equity giant Apollo has offered an investment of up to $5 billion in Intel, a sign of support for its comeback efforts, according to Bloomberg.

Stat: 9 out of 10. That’s where the US healthcare system ranked on efficiency among 10 high-income countries. (Axios)

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

What’s up

Intel is suddenly looking like the belle of the ball. Shares rose 3.30% after Apollo Global Management reportedly offered to make an investment of up to $5 billion, even as Qualcomm hints it wants to acquire the old school tech giant.
Palantir surged 2.02% during its first day of trading on the S&P 500, in spite of a downgrade from a Raymond James analyst.
Southwest Airlines ascended 2.03% after management told employees that “tough decisions” lie ahead, implying forthcoming job cuts as the company focuses on profitability.
Boeing popped 1.96% on hopes that a labor dispute will be over soon after the company issued its “final” offer to striking machinists, including a 30% raise over the next four years.
Tesla revved 4.93% higher thanks to an analyst upgrade from Barclays focused on higher delivery expectations and near-term catalysts like the upcoming Robotaxi event.

What’s down

General Motors sank 1.70% after receiving an analyst downgrade from Bernstein citing “earnings headwinds.”
Ulta Beauty fell 2.03% thanks to an analyst downgrade from the folks at TD Cowen, who don’t like the rising costs the makeup company will have to pay to stay competitive.
Trump Media & Technology Group tumbled to a new all-time low, falling 10.33% as worries arise that former President Donald Trump will sell a portion of his stake in the social media company.

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) added 16.02 points (0.28%) to 5,718.57; the Dow Jones Industrial Average^® ($DJI) increased 61.29 points (0.15%) to 42,124.65; the NASDAQ Composite^® ($COMP) rose 25.94 points (0.14%) to 17,974.27.
The 10-year Treasury note yield (TNX)added one basis point to 3.74%.
The CBOE Volatility Index^®(VIX) fell to 15.82, closing at another new low for September.

CITE: https://tinyurl.com/tj8smmes

Stat: $1.6 billion. That’s how much Constellation Energy is investing in reopening facilities at nuclear power plant Three Mile Island. The company is restarting the infamous plant to sell power to Microsoft data centers. (CNBC)

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Nike CEO Out, Cancer and Drug Deaths Down as Stock Markets Pause

Posted on September 21, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Overdose deaths in the US are plummeting. According to new public health data, drug-related deaths fell more than 10% in the 12 months ending in April, a massive improvement from double-digit increases seen in recent years, NPR just reported.

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What’s up

Nike popped 6.84% once CEO John Donahoe announced he will step down after four years on the job. Turns out when they say “Just do it,” “it” means resigning in disgrace after tarnishing an iconic brand.
Intel rose 3.31% on the news that Qualcomm approached the company with a buyout offer. Qualcomm sank 2.87% on the revelation.
Constellation Energy are the geniuses behind turning Three Mile Island back on, which shareholders love—the stock soared 22.29% today.
Vistra jumped 16.60% on the news that the Texas-based utilities provider is acquiring the remaining 15% stake of its subsidiary Vistra Vision that it doesn’t already own.

What’s down

UPS sank 2.67% after FedEx announced poor quarterly results and cut its earnings forecast.
Lennar fell 5.33% in spite of beating earnings estimates last quarter. The problem is that shareholders don’t like the homebuilder’s forecast of no growth next quarter.
Chewy tumbled 4.34% on the news that the pet products retailer will kick off an underwritten offering of $500 million of shares from a private equity partner, and buy back $300 million in shares—effectively reducing the company’s private equity ownership stake.
Novo Nordisk dipped 5.46% after the pharmaceutical giant announced mixed results from the latest trial of a new weight-loss drug.
ASML declined 3.97% thanks to a downgrade by Morgan Stanley analysts citing a slowdown in demand across the semiconductor industry.
Trump Media & Technology Group continued to fall today, dropping another 7.82% now that the early investor lockup period has concluded.

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) slipped 11.09 points (–0.19%) to 5,702.53, ending the week 1.36% higher; the Dow Jones Industrial Average^® ($DJI) added 38.17 points (0.09%) to 42,063.36, ending the week 1.60% higher; the Nasdaq Composite^® ($COMP) lost 65.66 points (–0.36%) to 17,948.32, ending the week 1.60% higher.
The 10-year Treasury note yield (TNX) slipped one basis point to 3.73% but finished the week up eight basis points and outgained the 2-year yield by four basis points.
The Cboe Volatility Index^® (VIX) ended at 16.1, its lowest close this month.

CITE: https://tinyurl.com/tj8smmes

Nike CEO John Donahoe will retire on October 13th and be replaced by longtime executive Elliott Hill, the company announced yesterday.

Stat: 33%. That’s how much the US cancer death rate fell from 1991 to 2021, equaling about 4.1 million lives saved, according to the latest Cancer Progress Report. (CBS News).

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DAILY UPDATE: Microsoft and Intuitive Machines as the Stock Markets Rocket Upward!

Posted on September 20, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Microsoft will buy back up to $60 billion in shares and is boosting its dividend by about 10% (from 75 cents per share to 83 cents).

Stat: 60%. That’s how much Intuitive Machines’ stock jumped in early trading yesterday after NASA awarded the company a contract to “build moon data satellites.” (CNBC)

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

What’s up

Lower interest rates mean it’s cheaper to afford a car, a realization that helped propel Tesla up 7.36% today.
Darden Restaurants rose 8.25% as shareholders cheered a new deal between the Olive Garden parent company and Uber, whose shares rose 2.42% as well.
Airbnb gained 5.17% after CEO Brian Chesky noted that the company is working to expand long-term rental offerings of over 28 days.
MobilEye Global popped 14.99% after Intel announced it has no plans to sell any of its 88% stake in the autonomous driving company. Intel shares rose 1.78% as well.

What’s down

Trump Media & Technology Group fell 5.89% as the lockup period, during which early investors like the former president can’t sell their stake in the company, is about to end.
Progyny plummeted 32.65% after the health insurance benefits company announced it is losing a key customer that accounts for 12% of Progyny’s revenue.
Five Below sank 2.22% after JP Morgan analysts downgraded the stock, though they also boosted their price target.

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

Here’s where the major benchmarks ended:

The SPX rose 95.38 points (1.70%) to 5,713.64; the $DJI added 522.09 points (1.26%) to 42,025.19; the NASDAQ Composite^® ($COMP) added 440.68 points (2.51%) to 18,013.98.
The 10-year Treasury note yield (TNX) climbed five basis points to 3.74%, while the 2-year note yield was unchanged.
The CBOE Volatility Index^® (VIX) slid to 16.33, registering its lowest close so far this month.

CITE: https://tinyurl.com/tj8smmes

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Larry Ellison, Estate Planning, Female VCs, Health Costs as Markets Finish Flat

Posted on September 18, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Oracle Chairman Larry Ellison became the world’s second-richest person yesterday, pulling past Amazon founder Jeff Bezos as the software company’s stock surged. Elon Musk still sits at No. 1, per Forbes.

Read: Estate planning lawyers are sleeping easy. Read about how rich Americans are prepping for potential estate tax changes ahead of the election. (the Wall Street Journal)

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

What’s up

Intel can’t stop, won’t stop: It rose 2.68% after announcing it will break its foundry business into a separate entity, which should go a long way to helping out the struggling chip maker.
Microsoft rose a tepid 0.88%, in spite of positive news: The company is raising its dividend and kicking off a new share repurchasing program.
Hewlett Packard Enterprise rounded out the old-school tech giants breaking to the upside, rising 5.69% after Bank of America analysts upgraded the stock from “Neutral” to “Buy.”
Flutter Entertainment, parent company of sports bettor FanDuel, popped 3.32% on the news that it’s buying Italian gambling company Snaitech S.A.
Gannett Co. soared 18.74% thanks to an upgrade of the newspaper company from “Sell” to “Neutral” by Citi analysts.

What’s down

Philip Morris International tumbled 2.14% after the tobacco titan sold its asthma inhaler maker Vectura Group for $198 million.
Accenture sank 4.85% on the news that it will push promotions back from June all the way to December, implying cash flow problems for the consulting giant.
Cigna fell 2.86% after Express Scripts, the healthcare giant’s pharmacy-benefits unit, sued the FTC over a recent drug pricing report.
Trump Media & Technology Group dropped 6.60% after a judge ruled that the company must award one of its investors a large chunk of the stock in exchange for helping it go public.

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

Here’s where the major benchmarks ended:

The SPX added 1.49 points (0.03%) to 5,634.58; the Dow Jones Industrial Average^® ($DJI) fell 15.90 points (–0.04%) to 41,606.18; the NASDAQ Composite^® ($COMP) rose 35.93 points (0.20%) to 17,628.06.
The 10-year Treasury note yield (TNX) rose two basis points to 3.64%, near the lower end of its recent range.
The CBOE Volatility Index^® (VIX) climbed to 17.74, its highest in nearly a week.

CITE: https://tinyurl.com/tj8smmes

Health benefit costs are soaring for employers, with over half of respondents saying they will need to make cost-cutting changes for next year: what employers are expecting.

Rethink Impact, a venture capital firm investing in female-led tech companies, has raised $250 million.

Employer Direct Healthcare is rebranding as Lantern and making a play in the infusion care space. The company also bolstered its clinical team, nabbing former execs at Teladoc and Hinge Health.

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DAILY UPDATE: PwC, Birth Rate, Social Media, NHS and the Mixed Markets

Posted on September 17, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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It’s going to be a gloomy October for some 1,800 PwC employees. The Big Four firm has announced it’ll be laying off around 2.5% of its US unit’s workforce next month, the Wall Street Journal reported. About half of the job cuts will take place offshore. The cuts will occur mainly in PwC’s US advisory, products, and technology operations functions.

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

What’s up

Intel gained 6.36% on the news that it has secured $3.5 billion in grants from the Pentagon.
Oracle rose yet another 5.12%, making co-founder Larry Ellison the second-richest person in the world thanks to its recent surge.
Alcoa climbed 6.09% on the news that it will sell its stake in a joint venture with Saudi Arabia Mining Co. to the tune of $1.1 billion in stock and cash.
Bausch + Lomb Corp popped 14.66% on a report from the Financial Times that the eyewear company is considering selling itself to get out from under a massive debt load.
Nuvalent soared 28.27% on impressive results from Phase 1 trials of its new cancer treatments.

What’s down

Apple fell 2.78% just a few days before its big iPhone 16 launch on Friday thanks to reports that demand for the new phone may be lower than anticipated.
Walgreens Boots Alliance sank 2.06% after it agreed to pay $106.8 million for charging the US government for prescriptions it never filled.
Yelp tumbled 3.03% thanks to Bank of America analysts initiating their coverage of the reviews website with a bearish “underperform” rating.
Trump Media & Technology Group gave up some of its recent gains, falling 3.84% only a few days after soaring on the news that former President Donald Trump won’t sell his shares of the company.

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) added 7.07 points (0.13%) to 5,633.09; the Dow Jones Industrial Average^® ($DJI) rose 228.30 points (0.55%) to 41,622.08; the NASDAQ Composite^® ($COMP) dropped 91.84 points (–0.52%) to 17,592.13.
The 10-year Treasury note yield (TNX) fell about three basis points to 3.62%, a new 15-month closing low.
The BOE Volatility Index^®(VIX) inched up to 16.99.

CITE: https://tinyurl.com/tj8smmes

Stat: 2%. That’s how much the birth rate declined from 2022 to 2023. (CDC)

Quote: “Every year they choose not to act, they will be complicit.”—Christine McComas, a mother from Maryland whose daughter died after she was cyberbullied, on members of the House attempting to pass a bill to regulate social media for children (Politico)

Read: UK Prime Minister Keir Starmer said the National Health Service must “reform or die,” and laid out a 10-year plan to fix it. (Reuters)

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DAILY UPDATE: Unemployment Rate, Banking Rules and Mental Health as the Markets Continue to Rise

Posted on September 12, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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After rising for more than a year, the unemployment rate fell to 4.2% in August from 4.3% in July, the Bureau of Labor Statistics reported. That dip matched Wall Street’s consensus forecast, but the 142,000 new jobs added fell short of the 160,000 that analysts had expected, according to FactSet data cited by CNN.

The Biden administration released a final rule this week that would require payers to cover behavioral health services, including addiction care, to the same extent that they’d cover all other forms of healthcare. The move comes amid a rising mental health crisis in the US and in light of the fact that the vast majority of people with substance use disorders don’t receive treatment.

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

What’s up

Dave & Busters Entertainment popped 4.66% after announcing strong sales and earnings growth last quarter, along with opening 13 new locations (more tokens for everyone!).
Petco Health and Wellness roared 32.90% despite mixed earnings last quarter, though shareholders wagged their tails at new CEO Joel Anderson’s plans to improve profitability.
Viking Therapeutics rose 11.31% thanks to JP Morgan initiating coverage of the company with a bullish overweight rating.

What’s down

Bank of America slipped 0.71% after a new filing revealed that Warren Buffett sold more shares of the company last quarter.
Rentokil Initial plummeted 21.07% once the pest control company made it clear that slow sales and currency exchange rates will take a $105 million toll on full-year profits.

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

Here’s where the major benchmarks ended:

The SPX rose 59 points (1.0%) to 5,554.13; the Dow Jones Industrial Average^® ($DJI) gained 125 points (0.3%) to 40,861.71; the NASDAQ Composite^® ($COMP)rose 370 points (2.17%) to 17,395.53.
The 10-year Treasury note yield (TNX) climbed just under two basis points to 3.66%.
The CBOE Volatility Index^® (VIX) fell to 17.7, the lowest close so far this month.

CITE: https://tinyurl.com/tj8smmes

Planned Fed rules are a win for big banks. The likes of JPMorgan and Bank of America celebrated the Fed walking back some of its proposals for tighter banking rules yesterday

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Google DOJ, Big Lots Bankrupt, Starbucks CEO, Rite Aid Private as Markets Rise

Posted on September 11, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

REMEMBER SEPTEMBER 11th – PATRIOT DAY

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Rite Aid completed its financial restructuring by eliminating $2 billion in debt and adding $2.5 billion in exit financing, as the slimmed-down chain is now led by a new CEO

Google reported to court yesterday to defend itself against monopoly allegations for the second time in less than a year in a new case that has the potential to strip the world’s largest online advertiser of a chunk of its ad business.

And, Apple and Google lost on appeal to the European Union’s highest court Tuesday in two separate cases requiring the tech giants to face billions of dollars in fines. The decisions by the Court of Justice of the European Union mark a significant win for the bloc’s antitrust chief Margrethe Vestager.

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

What’s up

Mission Produce soared 21.05% after the farming company announced impressive revenue growth last quarter thanks to rising avocado, blueberry, and mango prices. Rival produce producer Calavo Growers announced similarly strong results for much the same reasons, pushing shares 10.75% higher.
Alibaba rose 2.90% after its Hong Kong shares were added to a new program linking Hong Kong stocks with Chinese stock exchanges, which should help attract more investors.
Boot Barn, which is the name of a real company that sells Western apparel, popped 9.94% and hit an all-time high today after a JPMorgan analyst raised his price target 10%.

What’s down

Southwest Airlines descended 1.61% after Executive Chairman Gary Kelly announced he’ll retire next year in the face of activist investing pressure.
Ally Financial plummeted 17.65% after the consumer lending company’s CEO highlighted ongoing credit challenges in today’s economy.
JPMorgan sank 5.21% thanks to comments from its COO that investor expectations for net interest income, a key part of the bank’s business, are too high.
Hewlett Packard Enterprise dropped 8.41% on the news that the tech company will sell $1.35 billion in preferred stock to fund its acquisition of Juniper Networks.

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

Here’s where the major benchmarks ended:

The SPX rose 24.47 points (0.45%) to 5,495.52; Dow Jones Industrial Average^® ($DJI) fell 92.63 points (–0.23%) to 40,736.96; NASDAQ Composite^® ($COMP)added 141.27 points (0.84%) 17,025.88.
The 10-year Treasury note yield (TNX) dropped five basis points to 3.64%, the lowest close since mid-2023.
The CBOE Volatility Index^®(VIX) continued to pull back from last week’s elevations, closing at 19.08.

CITE: https://tinyurl.com/tj8smmes

Big Lots, the 1,300+ store discount chain, has filed for bankruptcy with a plan to sell itself to private equity firm Nexus Capital Management for ~$760 million and a commitment to keep offering “extreme bargains.”

The new CEO of Starbucks, Brian Niccol, formerly of Chipotle, is now officially in charge of the coffee chain.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: TeleHealth, Hospitals & Native Americans as the Markets Continue Down Slide

Posted on September 7, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Telehealth has become all the rage following the Covid-19 pandemic, with about 17% of appointments going virtual, up from 1% in February 2020.

Stat: 350. That’s about how many small and rural US hospitals—out of roughly 1,800—are using free and cheap cybersecurity resources the White House rolled out this summer. (Nextgov/FCW)

Quote: “We’re being blinded.”—Meghan Curry O’Connell, chief public health officer for the Great Plains Tribal Leaders’ Health Board, on the reported lack of access Native American tribal epidemiology centers have to federal government health data (KFF Health News)

Read: Race is used in clinical algorithms that determine patient diagnoses and care for everything from kidney transplants to lung function. A growing number of health professionals argue it shouldn’t be. (Stat)

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

What’s up

DocuSign rose 3.97% after it beat earnings expectations and hailed the rollout of its new AI offerings as a success.
Bowlero climbed 6.68% after announcing impressive revenue growth and a positive fourth-quarter forecast.
Guidewire Software gained 12.36% thanks to a strong quarter for the insurance software provider.
Big Lots soared 8.73% after it faked out the market and delayed the announcement of its latest quarterly earnings for another week. Management is probably trying to find some loose change between the couch cushions to stave off bankruptcy.

What’s down

Broadcom sank 10.36% after beating earnings but failing to impress investors with revenue guidance for next quarter.
Tesla gave up some of its recent gains, falling 8.45% as investors begin to realize that online hype doesn’t translate into profits (usually).
Super Micro Computer just can’t catch a break, and fell another 6.79% after a JP Morgan analyst downgraded the stock due to the sense of uncertainty hanging around it.
UIPath shed 6.04% even though the AI software provider beat top and bottom line expectations, forecast solid growth ahead, and increased its share buyback program.
Semiconductor stocks sank as a group, pulled lower by fears of slowing growth. ASML Holding dropped 5.38%, Marvell Technology slid 5.28%, and KLA Corporation stumbled 3.47%.

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX)dropped 95points (–1.73%) to 5,408.42, down 4.3% for the week; the Dow Jones Industrial Average^® ($DJI) fell 410.34 points (–1.01%) to 40,345.41, down 2.9% on the week; NASDAQ Composite^® ($COMP)declined 436.82 points (–2.55%) to 16,690.83, down 5.8% for the week.
The 10-year Treasury note yield (TNX) fell two basis points to 3.71%and was down 20 basis points for the week, but now, it has a six-basis point premium to the 2-year Treasury note yield, which fell 28 basis points this week.
The CBOE Volatility Index^® (VIX) hopped to 22.21 after hitting 23.76 intraday, the highest since August 8.

CITE: https://tinyurl.com/tj8smmes

Trump Media has lost 75% of its market value since the company went public in March, costing Trump himself billions in net worth.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Nvidia DOJ and Nippon Steel as Stocks Sill Slide

Posted on September 6, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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A bad day for Nvidia got even worse on Tuesday when Bloomberg reported that the Department of Justice subpoenaed the chipmaker as part of its investigation into whether the world’s hottest company unfairly wields its industry dominance. Yesterday, Nvidia denied it was technically subpoenaed. Bloomberg followed up to say that Nvidia was merely splitting hairs about the type of request it received from the DOJ but that it was in fact asked to answer questions about its empire.

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

What’s up

Nio—the Chinese EV maker, not the Keanu Reeves character—soared 14.52% after reporting record deliveries last quarter and forecasting a stronger quarter ahead.
US Steel continued its roller coaster ride today, rising 1.97% on the rumor that President Biden will block its acquisition by Japan’s Nippon Steel.
JetBlue Airways ascended 7.16% after the company boosted its revenue guidance for the coming quarter.
G-III Apparel Group rocketed 22% thanks to a shockingly impressive quarter for the fancy apparel maker.
Shoe Carnival, which sells shoes and isn’t in fact a poorly scripted horror film, popped 8.20% thanks to a back-to-school shopping boom.

What’s down

C3.ai, which sounds like the name of a new Star Wars droid, sank 8.21% after the enterprise software company announced that subscription revenue fell short of expectations last quarter.
Hewlett Packard Enterprise staggered 6.02% after posting record AI revenue but paying the price for it.
Copart dropped 6.67% once the online car auctioneer reported solid revenue growth but missed earnings expectations last quarter.
ChargePoint plummeted 17.75% thanks to an absolutely terrible quarter for the EV charging network company.
Toro Company, makers of your dad’s favorite lawnmower, fell 10.09%. Sales to residential customers rose last quarter, but sales to professionals, who buy more expensive equipment, fell.

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

Here’s where the major benchmarks ended:

The SPX fell 16.66 points (–0.30%) to 5,503.41; the Dow Jones Industrial Average^® ($DJI) dropped 219.22 points (–0.54%) to 40,755.75; the NASDAQ Composite^® ($COMP) added 43.36 points (0.25%) to 17,127.66.
The 10-year Treasury note yield (TNX)slid to 3.73%, its lowest close since August 5 following today’s jobs-related data.
The CBOE Volatility Index^® (VIX)fell to just above 20, near its historic average.

CITE: https://tinyurl.com/tj8smmes

The president is gearing up to block Japan’s Nippon Steel from acquiring US Steel, according to the Washington Post—a move that could end the highly politicized deal.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Berkshire Hathaway & the “September Effect” Stock Market Collapse

Posted on September 4, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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The September Effect refers to the historically weak stock market returns observed during the month of September. In fact, September has been the worst performing month, on average, going back nearly a century.

Stat: $1 trillion. That’s how much Berkshire Hathaway is now worth. The Warren Buffet-led company is the first outside of tech to join the trillion-dollar club, joining behemoths like Apple, Amazon, and Microsoft. (the Washington Post)

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

What’s up

Unity Software rose 2.02% after Morgan Stanley analysts upgraded the video game company, basically stating that Unity’s shares can’t sink any lower.
Super Micro Computer recovered 0.93%, firing back at Hindenburg Research and stating that the short seller got it all wrong.
Southwest Airlines ascended 2.28% on the news that activist investor Elliott Investment Management has accrued enough shares of the airline to call a special shareholder meeting.
Vaxcyte exploded 36.39% after an early-stage trial for its invasive pneumococcal disease vaccine showed promising results.

What’s down

Nvidia sank 9.53% as investors continue to digest the chipmaker’s earnings report from last week, which hinted at a slowdown in growth. Semiconductor stocks across the board had a terrible day.
Boeing descended 7.32% after a Wells Fargo analyst downgraded the company and lowered his price point, noting Boeing’s mounting expenses will hinder its free cash flow.
US Steel fell 5.99% after Vice President Kamala Harris came out against the iconic steelmaker’s acquisition by Japan’s Nippon Steel.
Intel dropped 8.80% on the rumor that the company will be dropped by the Dow Jones Industrial Average.
Cleanspark plunged 15.62% after the bitcoin miner released its latest monthly mining update, which revealed that it has been pulling in fewer and fewer bitcoins.

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX)dropped 119.47points (–2.12%) to 5,528.93; the Dow Jones Industrial Average^® ($DJI) fell 626.15 points (–1.51%) to 40,936.93; the $COMP plummeted 577.32 points (–3.26%) to 17, 136.30.
The 10-year Treasury note yield gave back seven basis points to 3.84%.
The VIX soared to 20.72, the highest since August 13.

CITE: https://tinyurl.com/tj8smmes

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Medicare Part D Drugs, Kidney Donor Tax Credits, UnitedHealth and the Robust Stock Markets with DJIA at Record High

Posted on August 31, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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What’s up

Dell Technologies rose 4.33% after beating analyst estimates on both the top and bottom lines thanks to strong AI demand.
Marvell Technology popped 9.16% after beating analyst estimates on both the top and bottom lines thanks to, believe it or not, strong AI demand.
MongoDB gained 18.34% after beating analyst estimates on both the top and bottom lines thanks to, you’re never going to guess, strong AI demand.

What’s down

After accidentally announcing earnings earlier than it intended, Gap fell 1.67%, despite earnings actually looking pretty good.
Super Micro Computer sank another 2.48% as the fallout from short seller Hindenburg Research’s latest report continues.
Elastic NV plummeted 26.49% after the software maker announced a weak quarterly report and forecast worse quarters ahead.
Alnylam Pharmaceuticals stumbled 8.47% in spite of announcing positive Phase 3 trial results for its new heart disease drug. Shareholders don’t think the new drug is as groundbreaking as it could’ve been compared to offerings from competitors like BridgeBio, which popped 13.12% on the news.

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

Here’s where the major benchmarks ended:

The SPX climbed 56.44 points (1.01%) to 5,648.40, roughly flat for the week; the $DJI rose 228.03 points (0.55%) to 41,563.08, up almost 1% for the week; the NASDAQ Composite^®($COMP) added 197.19 points (1.13%) to 17,713.62, down nearly 1% from a week ago.
The 10-year Treasury note yield (TNX) climbed three basis points to 3.91% but fell about 20 basis points in August.
The CBOE Volatility Index^® (VIX) fell moderately to 14.96, well below levels above 30 recorded earlier this month.

CITE: https://tinyurl.com/tj8smmes

The Centers for Medicare and Medicaid Services (CMS) has been doing victory laps since announcing discounts on August 15 for 10 of the most expensive Medicare Part D drugs, a change that is set to go into effect in 2026. These discounts, called maximum fair prices (MFPs), kick off annual negotiations between the CMS and drug manufacturers. The negotiations were made possible by the Inflation Reduction Act (IRA), which also brings other changes such as Medicare Part D benefit redesign.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

And, Remember NFTs? This is an excellent history of OpenSea, the largest NFT marketplace, and all the chaos within its walls.

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DAILY UPDATE: Record DJIA High

Posted on August 30, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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What’s up

CrowdStrike popped 2.82% off strong quarterly earnings for the beleaguered cybersecurity company.
Best Buy jumped 14.09% thanks to impressive profit growth in spite of a slowdown in sales.
Affirm Holdings soared 31.92% due to a beat-and-raise quarter for the buy-now-pay-later company.
Nutanix gained 20.31% after the cloud infrastructure company took advantage of a rival’s recent acquisition to gobble up market share.

What’s down

Okta, the security software maker that never lets you get into your company files when you really need to, dropped 17.64% after issuing mixed guidance for the coming quarter.
Salesforce sank at the open but recovered a bit, falling 0.94% after the cloud computing company announced solid earnings.
Pure Storage plunged 15.84% after beating estimates but announcing that full-year earnings will come in lower than expected.
Speaking of data storage companies, NetApp fell 9.64% in spite of beating on the top and bottom lines last quarter.
Birkenstock slipped 16.09% after the company that makes the ugliest shoes on the market missed on earnings estimates.

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

Here’s where the major benchmarks ended:

An early rally lost steam, once again victimized by selling in semiconductors and mega caps despite signs of progress elsewhere. That progress helped lead the Dow Jones Industrial Average^® ($DJI) to a new all-time high for the third time in four sessions.

The SPX fell 0.22 points (0.00%) to 5,591.96; the $DJI rose 243.63 points (0.59%) to 41,335.05; the NASDAQ Composite^®($COMP) dropped 39.59 points (–0.23%) to 17,516.43.
The 10-year Treasury note yield (TNX) climbed two basis points to 3.86%.
The CBOE Volatility Index^® (VIX) eased to 15.99.

CITE: https://tinyurl.com/tj8smmes

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Apple, Uber, Temu, Papa John’s, Icahn Enterprises & NFL Private Equity as Stock Markets Nudge Upward

Posted on August 28, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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The National Football League is expected to vote to allow private equity ownership of franchises, marking a significant change to its ultra-exclusive ownership club. The vote, all but guaranteed to pass, is a historic softening by the NFL, which will be the last of the major sports leagues in North America to permit private equity ownership. The NBA, MLB and NHL currently allow PE to own up to 30% of a team, while the NFL’s expected cap is 10%.

And, the stock of PDD Holdings, parent company of the fast-growing Temu shopping app, sank more than 30% on Monday, losing more than $50 billion in market value, after the e-commerce giant posted disappointing revenue results and executives warned of rapid competition and non-business challenges that may dampen growth and profits going forward.

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

What’s up

Costco (+1.84%) hit an all-time high and topped $900/share for the first time. Don’t be surprised if it becomes the latest retailer to announce a stock split after Chipotle, Walmart, and Williams-Sonoma, according to Barron’s.
Hain Celestial Group, the better-for-you food company that makes those veggie straw snacks in your office pantry, popped 18.59% after beating profit expectations for the latest quarter.

What’s down

Hims & Hers, the direct-to-consumer provider of generics, fell 7.51% after Eli Lilly announced a cheaper version of its weight loss drug Zepbound.
Paramount Global dropped 7.15% after billionaire Edgar Bronfman Jr. decided he wouldn’t pursue an acquisition of the legacy media company. That leaves Skydance Media poised for an $8 billion takeover.
Cannabis stocks including Curaleaf Holdings (-13.52%), Canopy Growth (-9.56%), and Green Thumb Industries (-10.76%) went up in smoke when the DEA said it would hold its hearing over changing the classification of cannabis on Dec. 2—after the election.
Cava got bowled over 6.10% after its CEO and other insiders revealed stock sales.

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 8.96 points (0.16%) to 5,625.80; the Dow Jones Industrial Average^® ($DJI) rose 9.98 (0.02%) to 41,250.50; the NASDAQ Composite^®($COMP) added 29.05 points (0.16%) to 17,754.82.
The 10-year Treasury note yield (TNX) increased nearly two basis points to 3.83%.
The CBOE Volatility Index^® (VIX) slipped to 15.42.

About half of S&P 500 sectors finished in the green today. Financials have been on a roll lately amid rate cut hopes and continued their solid performance Tuesday, while energy did a 180 Tuesday as crude oil lost ground.

Treasury yields remained in their recent trading range, with the gap narrowing further between the 2-year and 10-year Treasury note yields to roughly seven basis points. The inversion, in which two-year yields hold a premium to 10-year yields, reached 100 basis points a year ago as the Fed rapidly raised rates. The 10-year yield got some traction today from a solid Consumer Confidence report.

CITE: https://tinyurl.com/tj8smmes

Apple has announced “it’s glowtime” for a Sept. 9th event during which the company is expected to debut the iPhone 16.

And, Uber was fined 290 million euros ($347 million) by Dutch regulators for transferring driver data from the EU to the US. It’s one of the biggest fines ever issued under the EU’s data privacy law.

Icahn Enterprises L.P.’s stock tumbled 11.5% Monday to close at a roughly 21-year low, after billionaire Carl Icahn’s publicly traded investing arm filed to sell up to $400 million of its depositary units in an “at-the-market offering.” The news comes after Icahn and his company agreed last week to pay $2 million in civil penalties for failing to make required disclosures relating to personal margin loans worth billions of dollars. The stock closed at $14.07, its lowest level since it closed at $14.04 on Nov. 25, 2003.

Papa John’s (NASDAQ:PZZA) rose 4% and then surged amid some takeover speculation concerning Restaurants Brands (QSR), the parent of Burger King and Tim Hortons.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Nvidia Delayed and Covid Tests Mailed as Dow Rises and Technology Stocks Lag

Posted on August 27, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Nvidia will drop its Q2 numbers on Wednesday. Investors will also look for an update from CEO Jensen Huang about reported delays in production of the company’s highly anticipated new Blackwell chips.

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

Andersen, the US unit of Andersen Global, is considering an IPO in 2025, the Wall Street Journal reported. Andersen Global, an association of consulting firms, was formed in the wake of the 2002 collapse of Big Five accounting firm Arthur Andersen. The parent company has more than 17,000 employees worldwide and earned around $1.9 billion in revenue last year.

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

What’s up

Kroger gained 1.6% as the antitrust trial began over its plan to merge with rival Albertsons in a $25 billion deal.
XPeng ADRs (American Depositary Receipts) spiked 7.90% on news that the Chinese EV maker’s CEO bought more than 2 million of the company’s shares. Those ADRs are still down nearly 50% this year. Here’s what an ADR is, by the way.

What’s down

Nvidia (-2.25%), Super Micro Computer (-8.27%), and Broadcom (-4.05%) stunk up the joint today. Investors are biting their nails ahead of Nvidia’s earnings report on Wednesday.
Uber dropped 2.30% on a day it was hit with a record $324 million fine by the Dutch data protection regulator for violating EU personal data rules.
Intel plopped 2% after CNBC reported on Friday that the chipmaker has hired advisors to help defend the castle against activist investors.

CITE: https://tinyurl.com/tj8smmes

Here’s where the major benchmarks ended:

The SPX dropped 17.77 points (–0.32%) to 5,616.84; the Dow Jones Industrial Average^® ($DJI) rose 65.44 points (0.16%) to 41,240.52; the NASDAQ Composite^®($COMP) fell 152.02 points (–0.85%) to 17.725.77.
The 10-year Treasury note yield (TNX) inched up about one basis point to nearly 3.82%.
The CBOE Volatility Index^®(VIX) edged up to 16.09 but remains below its historic average.

Americans can receive free Covid-19 tests through the mail beginning next month.

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DAILY UPDATE: Medicare Part C and CON Laws as Stocks Drift Higher

Posted on August 24, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Read: Georgia’s bipartisan effort to amend its “certificate of need” system to bring back shuttered rural hospitals. (KFF Health News)

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

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 63.97 points (1.15%) to 5,634.61, up 1.5% on the week; the Dow Jones Industrial Average^® ($DJI) added 462.30 points (1.14%) to 41,175.08, up 1.3% for the week; the NASDAQ Composite^®($COMP) advanced 258.43 points (1.47%) to 17,877.79, up 1.4% for the week.
The 10-year Treasury note yield (TNX) fell nearly six basis points to just under 3.81%.
The CBOE Volatility Index^® (VIX) dropped sharply to 15.79, the lowest close since Monday.

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

As Medicare Advantage (MA) enrollment grows, hospitals are breaking up with MA [Part C] insurance plans. Becker’s Healthcare reported that, so far in 2024, at least 17 systems ended a contract with an MA insurer.

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DAILY UPDATE: Stock Markets Drop!

Posted on August 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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What’s up

Zoom Video Communications zoomed 12.97% higher after beating earnings estimates and raising its revenue forecast for the year.
Crocs gained 1.04% after Williams Trading upgraded the company from Hold to Buy and boosted its price target to $163 from $135.
Deutsche Bank climbed 3.38% thanks to an announcement that it has reached a settlement with the majority of plaintiffs in its long-running case regarding its Postbank acquisition a decade ago.
Paramount Global rose 0.81% after its special committee extended its “go shop” period ahead of its potential merger with Skydance.

What’s down

Advance Auto Parts plummeted 17.47% thanks to a massive earnings miss this quarter and management’s prediction that earnings will drop for the rest of the year.
Nvidia fell 3.70% after it came to light that investors and insiders like CEO Jensen Huang keep selling their shares of the company.
Charles Schwab dropped 0.46% after TD Bank announced it will sell part of its stake in the company to cover recent fines.
Williams-Sonoma sank 9.21% due to a poor earnings report as consumers slow their spending with the home goods retailer.
Wolfspeed declined 5.38% after the chipmaker revealed that slowing EV sales had hurt its bottom line and that it’s closing one of its manufacturing plants to cut costs.

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

Here’s where the major benchmarks ended:

The S&P 500 index (SPX) lost 50.21 points (–0.89%) to 5,570.64; the Dow Jones Industrial Average^® ($DJI) fell 177.71 points (–0.43%) to 40,712.78; the NASDAQ Composite^®($COMP) dropped 299.63 points (–1.67%) to 17,619.35.
The 10-year Treasury note yield rose about eight basis points to 3.86%, roughly the midpoint of its recent range.
The CBOE Volatility Index^® (VIX) climbed moderately to 17.66, the highest close since August 13.

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DAILY UPDATE: Medicare Drug Price Negotiations as Stock Markets Hold Steady

Posted on August 17, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Here’s where the major stock market benchmarks ended:

The S&P 500^® index (SPX) rose slightly, up 11 points (0.2%) to end the day at 5,554.25, finishing up 3.9% for the week; the Dow Jones Industrial Average^® ($DJI) jumped 96.7 points (0.24%) to close the week at 40,659.76, up 2.9% from last Friday; the NASDAQ Composite^®($COMP) gained 37.2 points (0.21%) to 17,631.72, up 5.3% for the week.
The 10-year Treasury note yield (TNX) fell three basis points to just above 3.89%.
The Cboe Volatility Index (VIX) dropped to 14.74, the lowest in three weeks.

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

What’s up

Bavarian Nordic, which makes an m-pox vaccine, jumped 15.64%, continuing its surge after the World Health Organization on Wednesday declared a public emergency over the disease’s spread in Africa.
Bayer popped 8.36% after the firm won a legal dispute against claims that its weedkiller Roundup causes cancer.
Rocket Lab rose 12.52% after the aerospace company announced it shipped two spacecraft to Cape Carnival in preparation for a launch to Mars.
H&R Block had its best day since 2022 (up 12.24%) after raising its dividend by 17% and announcing a $1.5 billion share buyback.
Maravai LifeSciences leaped 21.46% on reports that the drugmaker received a takeover offer from Repligen Corp.

What’s down

On the flip side of that last gainer, Repligen Corp. plummeted 9.26% on the takeover news.
Astera Labs dropped 5.52% after several investment firms, including Evercore and JPMorgan, lowered their price target for the chipmaker.
ReNew Energy Global dropped 5.91% after the company reported it missed earnings and revenue expectations yesterday.

CITE: https://tinyurl.com/tj8smmes

The Biden administration announced yesterday that Medicare used its newfound power to negotiate with drug makers to win landmark discounts for 10 widely prescribed drugs to treat ailments like heart disease, cancer, and diabetes. The Inflation Reduction Act, signed into law two years ago, allows the federal health insurance program to directly bargain with pharma companies for the first time.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Hospital Private Equity and AI with Upbeat DJIA

Posted on August 15, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Private equity (PE) firms might make it rain cash for investors, but hospitals under their ownership are facing an asset drought, according to a research letter published in JAMA on July 30th. While fans of PE argue it can bring much-needed financial resources to struggling hospitals, the data disagrees. “Private equity acquisitions appear to have depleted, rather than augmented, hospital assets,” the authors, a group of physicians from medical institutions across the US, wrote.

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

What’s up

Kellanova, maker of Eggo Waffles, popped 7.73% on the news that Mars, maker of M&Ms, will buy the company for $83.50 per share.
Victoria’s Secret rallied 16.20% due to the appointment of Hillary Super as CEO.
Allstate leapt 5.19% on the news that it will sell its employer voluntary benefits business to StanCorp Financial Group for $2 billion.
Cardinal Health jumped 3.52% thanks to an impressive earnings report and a glowing forecast for fiscal year 2025.
Flutter, parent company of FanDuel, rose 7.94% after a strong beat-and-raise earnings report.

What’s down

Peloton Interactive stumbled 4.64% on the news of a deal allowing Google’s Fitbit users to have access to Peloton classes.
Brinker International sank 10.51% after the parent company of Chili’s announced lower-than-expected earnings last quarter.
Ouster plummeted 27.44% after the lidar manufacturer reported disappointing revenue last quarter and forecast for worse to come next quarter.
Starbucks fell 2.09% as investors took some profits after yesterday’s gigantic pop.

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

Here’s where the major benchmarks ended:

The S&P 500 rose 20.78 points (0.38%) to 5,455.21; the Dow Jones Industrial Average^® ($DJI) added 242.75 points (0.61%) to 40,008.39; the NASDAQ Composite^®($COMP) squeaked out a slight gain of 4.99points (0.03%) to 17,192.60.
The 10-year Treasury note yield (TNX) dropped three basis points to 3.82%, the lowest close in more than a week.
The Cboe Volatility Index^® (VIX) fell to 16.22, the lowest since July 23.

CITE: https://tinyurl.com/tj8smmes

Stat: 21%. That’s the percentage of US physicians who are still paying off student loan debt. (Becker’s Hospital Review)

Quote: “The federal government is particularly ineffective and slow these days.”—Rep. Brianna Titone, a Colorado Democrat, on why states need to “step up” and make their own laws regulating the use of artificial intelligence in healthcare (Axios)

Read: A US Olympic athlete is taking advantage of free healthcare to catch up on preventive care while in Paris. (the Washington Post)

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Aetna Ratings Down as Stock Markets Flatten

Posted on August 13, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Aetna, CVS’s health insurance arm and the third largest payer in the US, is struggling amid higher medical costs and lower Medicare Advantage star ratings. After CVS reported a nearly 40% YoY drop in operating income in its Q2 2024 earnings released on August 7th, President and CEO Karen Lynch announced the company will replace Aetna’s president, Brian Kane, and initiate a $2 billion cost-savings plan.

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

What’s up

Nvidia jumped 4.08% after it was named a top “rebound” stock by Bank of America.
Keycorp leaped 9.24% on the news that the Bank of Nova Scotia will invest $2.8 billion in the company.
Robinhood Markets rose 3.46% due to an upgrade from Piper Sandler analysts who say the company’s sudden decline gives it an attractive entry point.
Monday.com popped 14.78% thanks to a strong earnings report from the software maker, due in no small part to sealing the largest deal in company history.
Barrick Gold soared 9.36% after beating earnings estimates on both the top and bottom lines thanks to the rising price of gold.

What’s down

Jetblue Airways descended 20.66% after 1) it unveiled plans to raise $3 billion in debt, and 2) it was downgraded by both S&P and Moody’s.
Qualcomm slid 0.97% thanks to a downgrade by Wolfe Research due to fears of oncoming competitions from Apple.
Hawaiian Electric Industries sank 14.06% on the news that it has issued a going-concern warning—meaning it’s probably going out of business.
Marathon Digital dipped 11.27% after it revealed plans to issue $250 million in convertible debt.
Albemarle stumbled 6.90% after an absolutely terrible earnings report thanks to the declining price of lithium.

Here’s where the major stock benchmarks ended:

The S&P 500^® index (SPX)added 0.23(0.00%) to 5,344.39; the Dow Jones Industrial Average^® ($DJI) fell 140.53 points (–0.36%) to 39,357.01; the NASDAQ Composite rose 35.30points (0.21%) to 16,780.61.
The 10-year Treasury note yield (TNX) fell three basis points to just under 3.91%.
The CBOE Volatility Index^® (VIX) increased 0.34 points (1.67%) to 20.71.

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

Stat: 8.2%. That’s the percentage of people in the US without health insurance in the first quarter of 2024. (Healthcare Dive)

CITE: https://tinyurl.com/tj8smmes

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Medicare, Google & Meta, FTX and the Rising Markets

Posted on August 10, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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FTX was ordered to pay $12.7 billion to customers. All customers will recoup their deposits that were locked when the crypto exchange went under in 2022, the Commodity Futures Trading Commission just said last Thursday.

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

Read: How one-hour patient home visits allowed insurers to collect $15 billion from Medicare between 2019 and 2021. (the Wall Street Journal)

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

What’s up

Sweetgreen popped 33.33% after a strong earnings report coupled with forecasts of higher-than-expected sales in 2024.
Doximity soared 38.70% thanks to a beat-and-raise quarter from the medical platform that has been investing in its own DoximityGPT AI model.
Nikola rose 8.21% after a surprisingly strong quarter in which sales soared 318%.
Unity Software jumped 8.22% despite revenue coming in lower year over year, but it was still higher than Wall Street expected.
Take-Two Interactive Software surged 4.35% after it beat earnings estimates last quarter, but no word yet on how its Gearbox acquisition is helping its bottom line, nor when GTA 6 is going to be released.
Expedia traveled 10.21% higher due to an earnings beat, with the company sidestepping a consumer spending slowdown quite nicely.

What’s down

e.l.f. Beauty tanked 14.46% despite beating earnings estimates and guiding for a better fiscal year than expected, as investors worry about tough competition.
Capri Holdings slid 4.86% as the company founded by Michael Kors faces slowing sales from cash-strapped consumers.
Insulet sank 8.81% after beating earnings estimates, with shareholders concerned about the cost of unutilized insulin devices.
Five9 plummeted 26.49% thanks to a weaker-than-expected forecast for the upcoming quarter and rest of the year.
Array Technologies slumped 21.02% despite beating analyst estimates, as management reduced the company’s fiscal year guidance.
New Fortress Energy fell 23.62% after the liquified natural gas company missed on both earnings and revenue last quarter.

CITE: https://tinyurl.com/tj8smmes

Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 25 points (0.5%) to 5,344.16, ending the week little changed; the Dow Jones Industrial Average^® ($DJI) rose 51 points (0.1%) to 39,497.54 to end the week down about 0.6%; the NASDAQ Composite^® ($COMP) ended 85 points higher (0.5%) at 16,745.30, leaving it about 0.2% lower for the week.
The 10-year Treasury note yield (TNX) dropped five basis points to 3.944%.
The Cboe Volatility Index (VIX) declined three points (13%) to 20.7.

Google and Meta teamed up to target teens with ads for Instagram on YouTube, going against Google’s own rules, the Financial Times reported.

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DAILY UPDATE: Centene Down but Technology Stocks Blast-Off

Posted on August 9, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Almost 40,000 seniors will be forced to change Medicare Advantage plans after yet another insurer decides to exit markets over cost concerns. Centene Corp announced it would be ending its Medicare Advantage plans in at least six states this year as the company faces cost pressures.

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

What’s up

Occidental Petroleum jumped 4.37% on a mixed earnings report that saw Warren Buffett’s favorite oil company beat on earnings but miss on revenue.
Zillow rose faster than the price of a three-bedroom in Austin, rising 18.19% thanks to strong earnings and a clearer succession plan for its CEO.
Penn Entertainment popped 8.45% on a strong earnings beat despite paying a hefty fee for ESPN Bet.
Duolingo s’eleva 10.90% thanks to a solid earnings announcement and the promise of even better returns in the coming fiscal year.
Klaviyo rocketed 33.28% after an impressive beat-and-raise earnings announcement.
Hanesbrands surged 18.17% in spite of sales sagging faster than the waistband of your favorite old pair of undies. Shareholders liked that the company has become more lean and efficient after selling its Champions brand.

What’s down

Bumble stumbled 29.16% after management forecast third-quarter revenue will come in well below Wall Street estimates.
Monster Beverages sank 10.93% thanks to a miss on both the top and bottom lines that management blames on shifting consumer sentiment.
Dutch Bros plummeted 19.93% due to expectations of lower same-store sales growth in the coming months.
SolarEdge Technologies fell 3.05% despite beating revenue forecasts, but its bottom line was weaker than expected.
JFrog tanked 27.52% after beating profit estimates, missing revenue estimates, and guiding for a much worse third quarter and fiscal year than expected.

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

Here’s where the major stock market benchmarks ended:

The SPX rose 119.81 points (2.3%) to 5,319.31; the Dow Jones Industrial Average^® ($DJI) climbed 683.04 points (1.76%) to 39,446,49; the NASDAQ Composite^® ($COMP) rose 464.21 points (2.9%) to 16,660.02.
The 10-year Treasury note yield (TNX) rose to just under 4%.
The Cboe Volatility Index^® (VIX) fell to 23.79.

CITE: https://tinyurl.com/tj8smmes

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Data Breach Up, Novo Nordisk Down as Stock Markets Stumble

Posted on August 8, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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You might be affected by one of the biggest data breaches ever and not even know it. A recent class action lawsuit filed against Jerico Pictures Inc., a background check company that does business under the name National Public Data, claims that the company was breached by hackers earlier this year.

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Here’s where the major benchmarks ended:

The SPX dipped 40.5 points (0.8%) to 5,199.5; the Dow Jones Industrial Average^® ($DJI) fell 234.2 points (0.6%) to 38,763.45 the NASDAQ Composite ($COMP) fell 171 points (1.1%) to 16,195.8.
The 10-year Treasury note yield (TNX) rose to 3.96%.
The Cboe Volatility Index^® (VIX) inched up to 27.8, still very elevated.

What’s Up

Fortinet skyrocketed 25.30% after the cybersecurity company posted strong second-quarter earnings that only served to underline its potential as a CrowdStrike alternative.
Lumen Technologies continued to power higher, rising another 32.90% today as the investors poured money into the telecom due to its AI business boom.
Shopify tore 17.80% higher after posting a beat-and-raise earnings report highlighted by strong demand despite weak consumer spending.
Sunrun popped 11.04% after its CEO announced the company is in talks to take on some of its bankrupt competitor SunPower’s customers.
Upstart Holdings soared 39.51% thanks to stronger-than-expected earnings.

What’s down

Super Micro Computer dropped 20.14% thanks to an earnings miss, as well as the announcement of a 10-for-1 stock split.
AirBnB tumbled 13.38% after not only missing analyst estimates last quarter, but warning of slowing demand in the coming quarter.
Lyft drove 17.23% lower in spite of strong ridership in the second quarter. Shareholders, however, did not like management’s dour financial forecast for the third quarter.
CVS Health sank 3.19% after it slashed its profit guidance for the full year, though it also announced a new cost-cutting program.
TripAdvisor took a trip south today, falling 16.61% due to a mixed earnings report and dire warnings of lower revenue in the coming quarter.
Amgen stumbled 5% after the biotech company missed Wall Street forecasts in the second quarter.

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Novo Nordisk sales thinned on Ozempic earnings miss. Shares of Danish pharmaceutical giant Novo Nordisk sank 8.27% today after the company missed expectations on its sales of popular weight-loss drugs Ozempic and Wegovy. Novo reported $1.7 billion in Wegovy sales, below the $2 billion analysts expected, while Ozempic sales came in $0.2 billion lower than analyst estimates. Overall, the company reported a net profit of $1.86 billion in the second quarter.

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DAILY UPDATE: New Coronavirus Variant and Stock Markets Both Up

Posted on August 7, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Health tech startup Guidehealth, which assists health systems with value-based care coordination, has raised $14 million in its seed round to make further investments in technology.

Clover Health reported a net income of $7.2 million during the second quarter and raised its full-year guidance.

And … Tenet Healthcare is selling five Alabama hospitals to Orlando Health and is entering into a new revenue cycle management arrangement through Conifer Health Solution

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What’s up

Uber drove 10.93% higher after beating analyst estimates for both earnings and revenue in the second quarter.
CrowdStrike finally got some good news, recovering 4.34% after Piper Sandler analysts decided it had sold off enough.
Palantir Technologies surged 10.33% thanks to an earnings beat powered by strong AI demand.
Lucid Group rose 10.38% due to an injection of $1.5 billion in funding by Saudi Arabia’s Public Investment Fund.
Kenvue jumped 14.68% after the maker of Band-Aids and Tylenol beat analyst earnings expectations in the second quarter.
Lumen Technologies exploded 93.05% after management announced a dramatic increase in new business thanks to huge AI usage.

What’s down

Chegg plummeted 22.45% despite beating revenue expectations in the second quarter. Shareholders didn’t like the slower growth and the decline in users.
Vulcan Materials stumbled 4.51% thanks to a poor earnings report highlighted by lower demand for construction materials.
ZoomInfo Technologies tanked 18.27% after missing on both top and bottom line expectations in the second quarter.

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Here’s where the major stock market benchmarks ended:

The S&P 500 index (SPX) rose 53.7 points (1%) to 5,240.03; the Dow Jones Industrial Average^® ($DJI) climbed 294.39 points (0.76%) to 38,997.66; the NASDAQ Composite ($COMP) advanced 166.77 points (1%) to 16,366,85.
The 10-year Treasury note yield (TNX) increased about 10 basis points to 3.88%.
The CBOE Volatility Index^® (VIX) ended at 27.7, well above lows below 11 last month.

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A new coronavirus variant named KP.3.1.1 has risen to dominance in the U.S., almost doubling in prevalence in just two weeks, the Centers for Disease Control and Prevention reports. Experts are warning that the new variant—which, as of August 3, accounts for more than 1 in 4 U.S. COVID-19 cases—is “more of a challenge” to our immune systems compared to previous variants.

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DAILY UPDATE: Google Monopoly, Mag 7 Still Down as VIX “Fear Index” Rises and Stock Markets Plunge!

Posted on August 6, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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A federal judge ruled that Google engaged in illegal practices to preserve its search engine monopoly, delivering a major antitrust victory to the Justice Department in its effort to rein in Silicon Valley technology giants. Google, which performs about 90 percent of the world’s internet searches, exploited its market dominance to stomp out competitors, U.S. District Judge Amit P. Mehta said in the long-awaited ruling.

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Stat: $900 billion. That’s the potential market value loss of the Magnificent Seven tech companies as investors shed tech stocks. The selloff comes as investors are looking for safer bets in the event of a recession. (Reuters)

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Here’s where the major benchmarks ended:

The S&P 500 index tanked 160.23 points (–3.00%) to 5,186.33; the Dow Jones Industrial Average^® ($DJI) plunged 1,033.99 points (–2.60%) to 38,703.27; the NASDAQ Composite plummeted 576.08 points (–3.43%) to 16,200.08.
The 10-year Treasury note yield (TNX) dropped to 3.78%, the lowest close since June 2023.
The CBOE Volatility Index^® (VIX) ended at 37.04, a four-year high but well-off intraday peaks above 60.

Today, the VIX reached levels not seen since early 2020 during the pandemic panic. This type of volatility can suggest oversold conditions. A higher VIX, sometimes called the “fear index,” reflects uncertainty and can suggest quicker, more intense market swings.

What’s up

Kellanova popped 16.23% on a report that the company is preparing to be acquired by fellow snackfoods maker Mars.
Tyson Foods jumped 2.09% thanks to a strong third-quarter earnings report.
ON Semiconductor rose 1.50%, bucking the trend of a semiconductor selloff.

What’s down

Apple stumbled 4.82% after Warren Buffett’s Berkshire Hathway revealed it has cut its position in the tech company by nearly 50%.
Nvidia fell 6.36% after a report this weekend revealed that its brand new chips will be delayed by three months or more due to design flaws.
Tesla sank 4.23% due to concerns about the auto maker’s global growth, despite Elon Musk’s recent positivity.
Intel continued to crumble, sliding 6.38% as the after-effects of its terrible second-quarter earnings report continue to be felt.
Bitcoin-related stocks plummeted today as cryptocurrencies were unable to avoid a major selloff. Coinbase plunged 7.32%, while MicroStrategy dropped 9.60%, and even Robinhood tumbled 8.17%.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: Wells Fargo and Record Stock Market Sell Off

Posted on August 3, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Here’s where the major benchmarks ended:

The S&P 500^®(SPX) index dropped 100.12 points (-1.8%) to 5,346.56, and finished down 2.1% for the week; the Dow Jones Industrial Average^® ($DJI) dropped 610.71 points (-1.5%) to 39,737.26, and finished down 2.1% for the week; the NASDAQ Composite^®($COMP) fell 417.98 points (-2.4%) to 16,776.16, and ended down 3.4% for the week.
The 10-year Treasury note yield (TNX) fell to 3.79%, the lowest close since last December 27.
The CBOE Volatility Index^® (VIX) rose to 23.66, the highest close since March 2023 after topping 29, a nearly two-year high, intraday.

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What’s up

Trump Media & Technology popped 7.39% after the company unveiled its new streaming strategy.
Clorox rose 7.42% in spite of lagging sales, as shareholders chose to focus on a strong bottom line instead.
Cloudflare jumped 6.81% on a strong beat-and-raise earnings announcement.
GoDaddy leapt 6.96% after management raised its full-year revenue guidance.
VSee Health skyrocketed 74.90% due to its announcement that it’s developed a robot to assist patients in intensive care units.

What’s down

Snap plummeted 26.97% after management forecast revenue will fall to the lower end of its expected range in spite of monthly active users continuing to increase.
Prudential Financial fell 10.02% despite reporting stronger-than-expected earnings last quarter, but those numbers still missed Wall Street’s forecasts.
Booking Holdings sank 9.17% as the online travel agency reported lower room nights than analysts anticipated.
Atlassian plunged 17.06% in spite of strong earnings this quarter. The problem was poor revenue guidance for the rest of the year.
Micron Technology led semiconductor stocks lower today, tumbling 8.68%.
Reborn Coffee dropped 21.50% just a few days after announcing a strategic partnership with Chinese AI company Pengai Data Store

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Wells Fargo wealth management client is suing the company for alleged breach of fiduciary duty related to its cash sweep program, which pays customers interest rates as low as 0.05% on their uninvested cash.

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DAILY UPDATE: Rite Aid, Walgreens, CVS and Blood Drops as Technology Stock Rise

Posted on August 1, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Five years after Theranos went dark, a couple of startups have managed to develop the futuristic tech, according to the Wall Street Journal.

Becton Dickinson developed a finger-prick device to collect drops of blood.
Babson Diagnostics made a machine that analyzes blood obtained through Becton’s device. It runs routine tests that you’d get at the doctor with one-tenth of the amount of blood that a traditional vein collection requires.

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Here’s where the major benchmarks ended:

The S&P 500^®(SPX) index climbed 85.86 points (1.6%) to 5,522.30; the Dow Jones Industrial Average^® ($DJI) rose 99.46 points (0.2%) to 40,842.79; the NASDAQ Composite^®($COMP) added 451.98 points (2.6%) to 17,599.40.
The 10-year Treasury note yield (TNX) dropped four basis points to just under 4.11%.
The CBOE Volatility Index^® (VIX) fell to 16.36.

What’s up

Starbucks rose 2.65% despite missing sales forecasts, with shareholders instead focusing on bullish business projections from management.
Boeing ascended 2.05% in a surprise turnaround after announcing subpar earnings. Investors are enthusiastic about the appointment of Robert Ortberg as the new CEO.
Match Group swiped right 13.21% after the company announced plans to reduce headcount in order to help offset lower subscriber numbers.
DuPont rallied 4.10% as the chemical company’s turnaround plans seem to be bearing fruit.
Arista Networks soared 11.32% thanks to high demand from AI users for the company’s data centers.
AutoNation revved 6.30% higher due to impressive growth in spite of a massive car dealership cyberattack earlier this year.

What’s down

Microsoft sank 1.08% after announcing earnings that illustrated just how long its AI investments will take to pay off.
Humana tumbled 10.60% despite beating earnings expectations—but investors are far more focused on the rising proportion of premiums paid to cover medical expenses.
Pinterest crashed 14.46% due to lower-than-expected guidance for the third quarter.
Marriott International tanked 4.80% after falling short of analyst forecasts this quarter and guiding for a lower profit next quarter.
Skyworks Solutions fell 3.46% after the semiconductor manufacturer reported lower demand for its chips used in automobiles.
Altria Group was smoked 3.09% after it missed analyst expectations and narrowed its forward guidance thanks to lower cigarette sales.

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Rite Aid has been in Chapter 11 bankruptcy since October and has closed nearly 700 locations. CVS (CVS) and Walgreens (WBA) have managed to stay solvent, but both companies have been closing stores as well.

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DAILY UPDATE: Healthcare Costs, Lobbyists and Private Equity as Technology Drowns

Posted on July 31, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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In the second quarter, 14 healthcare organizations spent more than a million dollars lobbying the federal government for healthcare policy change, led by the American Hospital Association and AARP.

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Sen. Ed Markey (D-Massachusetts) and Rep. Pramila Jayapal (D-Washington) introduced strengthened legislation to rein in the actions of private equity firms that invest in healthcare facilities. The Health Over Wealth Act would require PE firms to put out reports on the facilities’ pay of executives, set up escrow accounts and receive a license from the Department of Health & Human Services prior to investing in healthcare facilities.

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The Federal Open Market Committee (FOMC) meeting ending tomorrow is widely expected to conclude with no interest rate move. Instead, it could serve as a platform to help prepare market participants for a possible cut at the September meeting.

Here’s where the major benchmarks ended:

The S&P 500^®(SPX) index lost 27.1 points (–0.5%) to 5,436.44; the Dow Jones Industrial Average^® ($DJI) climbed 203.4 points (0.5%) to 40,743.33; the NASDAQ Composite^®($COMP) fell 222.78 points (–1.3%) to 17,147.42.
The 10-year Treasury note yield (TNX) dropped about two basis points to 4.14%.
The CBOE Volatility Index^® (VIX) jumped to 17.77, not far below last week’s highs.

What’s up

Paypal popped 8.59% after announcing impressive earnings and proving it’s got nothing to fear from Apple’s moves into the online payment world.
JetBlue Airways soared 12.31% thanks to a surprise profit last quarter rather than the loss analysts expected.
Affirm Holdings rose 2.31% due to an upgrade from “neutral” to “buy” from Bank of America analysts.
Tenable Holdings surged 9.30% after the cybersecurity company made it clear it’s willing to take acquisition offers.
F5 jumped 12.99% thanks to a beat-and-raise earnings report.

What’s down

CrowdStrike sank 9.72% after its comeback stalled thanks to Delta’s declaration that it will seek damages from the cybersecurity company after canceling 7,000 flights.
Nvidia fell 7.04% as investors continue to rotate out of big tech and into smaller stocks.
Merck tanked 9.84% in spite of strong second-quarter earnings, as investors balked at lower sales of the key product Gardasil.
Diageo slumped 4.66% thanks to the first decline in company sales since the pandemic as customers cut back on alcohol.
Tesla tumbled 4.08% after announcing a recall of 1.8 million cars across the US due to issues with their hoods.

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Visualize: A key measure of employer healthcare costs is poised for its biggest annual increase in more than a decade as more people use mental health care and get prescriptions for new, expensive drugs—yes, including Ozempic—according to a new PwC report.

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DAILY UPDATE: Bank Debt and Flat Stock Markets

Posted on July 30, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Here’s where the major benchmarks ended:

The S&P 500^®(SPX) index rose 4.44 points (0.1%) to 5,463.54; the Dow Jones Industrial Average^® ($DJI) slipped 49.41 points (–0.1%) to 40,539.93; the NASDAQ Composite^®($COMP) gained 12.32 points (0.1%) to close at 17,370.20.
The 10-year Treasury note yield (TNX) fell roughly five basis points to just under 4.18%.
The CBOE Volatility Index^® (VIX) finished nearly steady but still elevated at 16.59.

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What’s up

Tesla drove 5.60% higher after Morgan Stanley analysts named the company a top pick thanks to its strong cash flow after implementing cost-cutting measures.
ON Semiconductor popped 11.54% after beating analyst estimates on both the top and bottom lines last quarter.
Revvity soared 9.14% after the medical device maker crushed analyst expectations.
Philips rose 6.04% on strong earnings despite a dip in Chinese sales.

What’s down

Abbott Laboratories sank 0.45% after it was ordered to pay $495 million in damages for failing to warn of the risks to premature infants drinking its formula, a far higher number than analysts expected. Shares of its peer Reckitt Benckiser fell 8.65% in sympathy.
Arm Holdings slipped 5.07% after an HSBC analyst downgraded the company due to its sky-high valuation.
Heineken fell 8.18% thanks to slower beer sales in key markets, as well as the poor performance of its investment in Chinese brewer CR Beer.
Loews slid 1.47% due to an announcement that CEO James Tisch will step down after 25 years at the helm.
3M dropped 1.56%, falling back to Earth after the stock enjoyed its best day of trading ever last Friday.

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Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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DAILY UPDATE: UnitedHealth Group and PBMs as Technology Stocks Soar

Posted on July 23, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Here’s where the major stock market benchmarks ended:

The Cboe Volatility Index^®(VIX) fell sharply to 14.91.

The S&P 500^® index (SPX) rose 59.41 points (1.1%) to 5,564.41; the Dow Jones Industrial Average^® ($DJI) climbed 127.91 points (0.3%) to 40,415.44; the NASDAQ Composite^® ($COMP)jumped 280.63 points (1.6%) to 18,007.57.

The 10-year Treasury note yield (TNX) added two basis points to 4.26%.

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What’s up

Reddit was upvoted 5.30% on the news that the company has sealed a deal with five major US sports leagues.
Nvidia popped 4.76% on a report that the company is working on China-specific semiconductor chips that will sidestep US trade restrictions.
Mattel soared 15.10% after the company was approached with an acquisition offer from private equity firm L Catterton.
Tesla climbed 5.15% ahead of the EV maker’s earnings report after the bell.
AMC Entertainment Holdings leapt 5.31% following an announcement that the company will refinance its debt.
Iqvia Holdings jumped 9.30% after a meet-and-beat second-quarter earnings report.

What’s down

Crowdstrike withered another 13.46% as the fallout from what’s being hailed as the largest IT outage in history continues to punish the stock.
Trump Media & Technology Group dipped 0.83% during the trading session after President Biden’s announcement that he’s dropping out of the presidential race.
Verizon sank 6.04% after whiffing on its earnings report, missing on revenue thanks to customers holding on to their old phones for longer.
Ryanair crumbled 15.41% following an earnings report that revealed the company’s earnings after taxes sank an eye-watering 46% last quarter.
Starbucks dropped 3.43% on a report by the Wall Street Journal late last week that activist investor Elliott Investment Management has taken a stake in the coffee chain.

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The US House of Representatives Committee on Oversight and Accountability is holding a hearing tomorrow, bringing in PBMs from around the US to testify on “their role in rising healthcare costs.” The hearing comes soon after an FTC report found PBMs to have an “outsized influence” on drug pricing.

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The February cyberattack on a UnitedHealth Group subsidiary may have exposed the health data of one in three Americans, but the nation’s largest health insurance company by market cap and revenue returned to profitability in the second quarter, beating Wall Street expectations and reporting net income of $4.2 billion.

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DAILY UPDATE: Apple, Macy’s, Goldman, Banks, Companies and the Roaring DJIA

Posted on July 17, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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The Dow jumped 700 points at one point today, its biggest single-day surge this year. The S&P 500 spent the entire trading session in positive territory, ending the afternoon at another record close, while the NASDAQ was flat most of the day as tech stocks sat out the rally.
Bitcoin continued to surge, rising as high as $65,191 as predictions of a second Trump presidency helped erase the cryptocurrency’s recent losses.
Gold hit a new record as hopes of a rate hike continue to rise, while oil sank on the news of slower economic growth in China translating to lower demand for crude.
The Russell 2000 enjoyed its 5th straight gain of 1% or more for the first time since 1979 as small caps make their comeback (more on that below).

***

Apple released public beta versions of the newest software for iPhone, Mac, iPad, and Apple Watch. Macy’s ended talks of a buyout with investment firms Arkhouse Management and Brigade Capital Management after months of wrangling. Goldman Sachs was the latest big bank to benefit from rebounding investment banking fees as deals start making a comeback.

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Despite such challenges as high interest rates, a sluggish M&A market, and increased regulatory scrutiny, bank executives are feeling optimistic about the road ahead. That’s according to KPMG’s 2024 US Banking Industry Outlook Survey, published last month, which polled 200 senior executives at US banks of varying sizes in March 2024.

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Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 35.98 points (0.64%) to 5,667.20; the Dow Jones Industrial Average^® ($DJI) climbed 742.76 points (1.85%) to 40,954.48; the NASDAQ Composite^® ($COMP) added 36.77 points (0.2%) to 18,509.34.
The 10-year Treasury note yield (TNX) fell slightly to just under 4.17%.
The CBOE Volatility Index^® (VIX) ticked up to 13.19, still near three-week highs.

What’s up

Match Group climbed 7.46% after activist investor Starboard Value revealed it has taken a 6.6% stake in the matchmaking company.
Bank of America rose 5.35% on strong earnings, and management’s expectation that the bank’s net interest income will rise this year.
UnitedHealth Group popped 6.49% after beating analyst earnings estimates, missing revenue expectations, and most importantly, avoided higher costs after a recent cyberattack.
Shopify surged 8.57% thanks to an analyst upgrade from “neutral” to “buy” on the company’s turnaround efforts. Shares of Etsy rose 6.33% in sympathy.
GRAIL boomed 24.76% on the news that it is kicking off the clinical trials of its new cancer detection test.
Home builders’ hot streak continues: Hopes of a rate cut are fueling a rally for home builder stocks, with D.R. Horton up 6.64%, Lennar rising 6.55%, KB Home gaining 7.17%, and Builders FirstSource popping 8.11%.

What’s down

Trump Media & Technology Group fell 9.09%, sinking back to Earth after yesterday’s big pop on the news that the company is reselling 38 million shares of common stock.
Reddit was downvoted 3.43% thanks to a downgrade from “buy” to “hold” by Loop Capital analysts.
Charles Schwab sank 10.19% after its CEO declared the bank will have to downsize in order to maintain profitability.

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DAILY UPDATE: PBMs Scrutinized as Companies Report and Stock Markets Rotate

Posted on July 16, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Though the accountant shortage is still a concern, a shortage of AI and tech skills might be a more pressing issue right now. That’s according to a pulse survey by consulting firm RGP and YouGov, which polled 213 US financial professionals at the director level and above this June.

Read: What do you do when you hit your insurance deductible? Some people throw parties. (the New York Times)

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Here’s where the major benchmarks ended:

The S&P 500^® index (SPX) rose 15.87 points (0.28%) to 5,631.22; the Dow Jones Industrial Average^® ($DJI) climbed 210.82 points (0.53%) to 40,211.72, a new record-high close; the NASDAQ Composite^® ($COMP) added 74.12 points (0.4%) to 18,472.57.
The 10-year Treasury note yield (TNX) gained four basis points to just below 4.23%.
The CBOE Volatility Index^® (VIX) increased to 13.14, its highest close since June 24.

What’s up

Bitcoin-related stocks rose alongside the crypto rally today, with Coinbase up 11.39% and Microstrategy climbing 15.36%.
Gun manufacturers always rise after a major shooting incident, and the assassination attempt on Donald Trump certainly meets that criteria. Sturm, Ruger & Company jumped 5.44%, and Smith & Wesson rose 11.38%.
Stelco Holdings rocketed 73.98% higher on the news that the Canadian steelmaker will be acquired by Cleveland Cliffs for $2.8 billion.
AutoNation popped 2.01% on the news that it’s cutting $1.50 off of its EPS for the latest quarter due to the CDK cyberattack. Apparently getting ahead of the bad news is actually good news?

What’s down

Macy’s sank 11.76% after the department store’s board voted to end acquisition negotiations with activist investors Arkhouse and Brigade.
Burberry fell 16.08% after a poor quarterly report, a profit warning, and the ousting of its CEO.
AES plummeted 10.01% thanks to a storm cutting power to thousands of the utility company’s customers throughout Ohio.
SolarEdge Technologies dropped 15.36% after the company announced it will lay off 400 employees to improve profitability. Shares of solar competitors slumped in sympathy: First Solar fell 8.50%, Sunrun sank 8.95%, and Sunnova Energy fell 9.96%.

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The Federal Trade Commission (FTC) frequently sets its sights on healthcare, which has previously included efforts to crack down on data privacy and ban noncompetes in contracts. Lately, the agency has turned its attention to pharmacy benefit managers (PBMs)—the groups that negotiate drug prices between insurers and pharmaceutical manufacturers—to shed light on how they impact the healthcare industry.

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Stat: 23.5%. That’s how much Covid-related emergency room visits increased in a week at the beginning of this month. (CDC)

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DAILY UPDATE: Corporate Earnings, Oxendine Guilty as Stock Markets Rotate

Posted on July 13, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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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.

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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!

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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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DAILY UPDATE: Pfizer, MSFT and the NASDAQ Collapse

Posted on July 12, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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As drugs like Wegovy and Zepbound that help people slim down have enlarged its competitors’ bottom lines, Pfizer has struggled to keep up. But now it’s moving forward with the development of a once-daily version.

Here’s where the major benchmarks ended:

The S&P 500 index fell 49.37 points (0.8%) to 5,584.54; the Dow Jones Industrial Average^® ($DJI) rose 32.39 points (0.1%) to 39,753.75; the NASDAQ Composite^® ($COMP) collapsed and lost 364.04 points (1.95%) to 18,283.41 but remains up 22% year to date. The SPX is still up 17% this year.
The 10-year Treasury note yield dropped eight basis points to 4.19%.
The CBOE Volatility Index^® (VIX) climbed to 12.99.

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More specifically, the S&P 500 and NASDAQ broke their winning streaks today, closing in the red for the first time in over a week—though both did hit intraday highs at one point. The Dow finished the afternoon in the green, just barely.
Gold breached $2,400, and is closing in on a record high of $2,449.89 set back in May.
Oil rose on today’s CPI news, with the idea being that if inflation slows and the Fed cuts rates then economic activity will pick up, as will demand for crude.
Bond yields sank on CPI data while prices rose.

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According to the Wall Street Journal, Microsoft abandoned its post as an observer on the board after realizing it was bothering antitrust officials who were looking into the relationship between the two companies. Apple, which was expected to take a similar seat on the OpenAI board, will reportedly no longer do s

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DAILY UPDATE: Mike Bloomberg, Arianna Huffington and Andreessen Horowitz as Stock Markets Tread Lightly

Posted on July 10, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Most medical students at Johns Hopkins University won’t have to pay tuition anymore thanks to a $1 billion gift from Michael Bloomberg.

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Here’s where the major benchmarks ended:

The S&P 500 index^®(SPX) rose 4.13 points (0.1%) to 5,576.98; the Dow Jones Industrial Average^® ($DJI) fell 52.82 points (0.1%) to 39,291.97; the NASDAQ Composite^® ($COMP) climbed 25.55 points (0.1%) to 18,429.9.
The 10-year Treasury note yield increased two basis points to 4.29%.
The CBOE Volatility Index^® (VIX) inched up to 12.49, still near recent lows.

What’s up

Tesla rose 3.71%, putting the company squarely in the green year to date as investors continue to celebrate the automaker’s strong delivery numbers.
Corning rose yet another 3.76%, extending the glassmaker’s gains as it quickly becomes the new hot AI stock du jour.
Kymera Therapeutics shot 23.40% higher after its partner Sanofi gave the go-ahead for further studies of its experimental skin disease treatment.
Jumia Technologies soared 29.79% after Benchmark analysts initiated coverage of the African e-commerce company with a “buy” rating.
Sony rose 4.46% on the news that it has nothing to do with the merger of Paramount and Skydance as shareholders celebrate dodging a Paramount-shaped bullet.

What’s down

Albemarle dropped 8.76% after Baird analysts warned that lower lithium demand will translate to lower profits for the miner in its upcoming second quarter.
BP sank 4.80% after management warned of lower-than-expected profits and a writedown of its German refining facility to the tune of up to $2 billion.
Helios Technologies fell 10.94% on the news that the CEO of the industrial manufacturer had been placed on paid leave for potentially violating the company’s code of ethics.
Helen of Troy plummeted 27.73% after the Hydro Flask maker announced terrible earnings and lowered its fiscal year outlook.
UiPath fell 6.90% on the announcement that the software company will cut 10% of its workforce.

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OpenAI’s venture fund and Arianna Huffington’s Thrive Global are jointly funding a new startup that aims to build an AI health coach to promote healthier lifestyles.

Function Health, a health tech company focused on preventive medicine, recently closed a series A round led by Andreessen Horowitz (a16z) Bio + Health along with a slew of celebrity investors.

And … made possible by the American Rescue Plan, the Biden administration is putting $27.5 million toward women’s behavioral health.

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