DAILY UPDATE: Walgreens Boots Private Equity, Medical Cost Debt as Stock Markets Stabilize

Posted on March 8, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

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Walgreens Boots Alliance says it has agreed to be acquired by private equity firm Sycamore Partners as the struggling retailer looks to turn itself around after years of losing money. Walgreens said Thursday that Sycamore will pay $11.45 per share, giving the deal an equity value just under $10 billion. Shareholders could eventually receive up to an

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Stocks

  • The S&P 500 rose 0.6%
  • The NASDAQ 100 rose 0.7%
  • The Dow Jones Industrial Average rose 0.5%
  • The MSCI World Index rose 0.2%
  • Bloomberg Magnificent 7 Total Return Index rose 0.2%
  • The Russell 2000 Index rose 0.4%

Currencies

  • The Bloomberg Dollar Spot Index fell 0.2%
  • The euro rose 0.6% to $1.0851
  • The British pound rose 0.4% to $1.2929
  • The Japanese yen was little changed at 147.89 per dollar

Cryptocurrencies

  • Bitcoin fell 4% to $86,226.2
  • Ether fell 3.8% to $2,129.51

Bonds

  • The yield on 10-year Treasuries advanced two basis points to 4.30%
  • Germany’s 10-year yield was little changed at 2.84%
  • Britain’s 10-year yield declined two basis points to 4.64%

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Stat: 20%. That’s how many US residents under age 49 have borrowed money to cover medical costs. (West Health and Gallup)

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

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DAILY UPDATE: Pharmacy Schools and PBMs as Stocks Recover

Posted on February 6, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

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One year after forming an alliance with pharmacy schools, Walgreens says it has taken steps to get more people interested in the profession and improve working conditions at the chain.

Walgreens announced the Deans Advisory Council last February, framing it as a collaboration with pharmacy schools to boost the number of students enrolling and address some of the broader issues in the industry, like burnout and declining reimbursements from pharmacy benefit managers.

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US stocks recovered from losses on Wednesday to close higher on the day. Earnings from Alphabet (GOOG, GOOGL) and AMD (AMD) fell short, but Big Tech got a boost from a jump in Nvidia (NVDA) shares.

The tech-heavy NASDAQ Composite (^IXIC) rose 0.2%, while the benchmark S&P 500 (^GSPC) added 0.4%. The Dow Jones Industrial Average (^DJI) led the gains, rising 0.7%, or more than 300 points.

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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: TikToc, Walgreens & Hindenburg Research All Down as Markets Blast Off

Posted on January 18, 2025 by Dr. David Edward Marcinko MBA MEd CMP™

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WASHINGTON — The US Supreme Court on Friday delivered a blow to TikTok by upholding a law that could potentially lead to the video-sharing social media platform being banned in the United States. The justices in an unsigned opinion with no dissents rejected a free speech challenge filed by the company, meaning the law is set to go into effect on Sunday as planned. The bipartisan law requires China-based TikTok owner ByteDance to divest itself of the company by Sunday, the day before President-elect Donald Trump is to take office. If no sale takes place, the platform used by millions of Americans will in theory be banned.

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Legendary short seller Nate Anderson announced this week that he is shutting down his firm, Hindenburg Research, due to extreme job stress. With only 11 employees, Anderson took gargantuan swings at companies—and their billionaire leaders. Hindenburg published deeply researched reports about companies it believed were overvalued and rife with corruption. It got its big break when it shorted electric truck-maker Nikola in 2020, calling the company an “intricate fraud.” Regulators took note, and it led to three fraud convictions for Nikola founder Trevor Milton.

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US stocks jumped on Friday amid a tech stock revival as investors assessed a week of key data and earnings reports alongside potential policy shifts under a Trump administration.

The Dow Jones Industrial Average (^DJI) gained 0.8% while the S&P 500 (^GSPC) rose 1%, coming off a losing day for the major gauges. The tech-heavy NASDAQ Composite (^IXIC) put on 1.5% as Nvidia (NVDA) and Tesla (TSLA) shares nudged back into the green.

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The US Department of Justice (DOJ) filed a lawsuit against Walgreens (WBA), one of the nation’s largest pharmacy chains, alleging widespread prescription drug practice violations. According to the DOJ, Walgreens improperly dispensed millions of prescriptions from August 2012 to the present day that either lacked “legitimate medical purpose” or were otherwise invalid.

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DAILY UPDATE: Retail Pharmacies Down as the Stock Market Rally Stall Out

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

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Rite Aid filed for bankruptcy last October, and CVS and Walgreens reported steep losses over 2024.

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STOCKS UP

  • AT&T climbed 4.58% thanks to a few big announcements during its investor day, including returning over $40 billion to shareholders via dividends and stock buybacks over the next three years.
  • Palantir popped 6.88% after the US government gave the cybersecurity darling the green light to let its cloud offerings handle classified data. It also helped that Barrons expects the company will be added to the Nasdaq 100 in 2025.
  • Speaking of Palantir, BigBear.ai soared 28.64% after the server company was touted as the next Palantir by the Economic Times.
  • Data center company Credo Technology Group skyrocketed 47.89% thanks to an impressive earnings report and a glowing fiscal forecast.

STOCKS DOWN

  • US Steel dropped 8.01% on President-elect Trump’s declaration that he will block the company’s acquisition by Nippon Steel.
  • Tesla sank 1.59% after a Delaware judge once again blocked Elon Musk’s $56 billion pay package. The case will go back to court yet again, and may eventually reach the Supreme Court.
  • Intel tumbled another 6.10% two days after CEO Pat Gelsinger was fired happily decided to retire.
  • The children aren’t alright: Children’s Place crashed 24.15% after the children’s clothing retailer announced its turnaround isn’t going so well.
  • South Korean stocks took a beating after the country’s president declared martial law. The country’s largest online retailer, Coupang, sank 3.74%, steel manufacturer Posco Holdings dropped 4.32%, and Samsung tumbled 3.71%.

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Here’s where the major benchmarks ended:

  •  The S&P 500® index (SPX) rose 2.73 points (0.05%) to 6,049.88; the Dow Jones Industrial Average® ($DJI) fell 76.47 points (–0.17%) to 44,705.53; and the NASDAQ Composite® ($COMP) added 76.96 points (0.40%) to 19,480.91.
  • The 10-year Treasury note yield added three basis points to 4.22% after falling below 4.17% at one point.
  • The CBOE Volatility Index® (VIX)held steady at 13.39.

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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, PBMs, Walgreens and Edmunds as Stock Climb

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

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UnitedHealth posted $6 billion in profit and $100 billion in revenue, but the company’s stock is dipping this morning.

Walgreens is closing 1,200 stores by 2027 and a net loss of $3 billion, though the company beat Wall Street’s expectations.

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Stocks Up

  • Chip stocks recovered lost ground today thanks to a strong earnings report from TSMC (more on that below). Nvidia led the group higher, rising 0.89% to yet another new all-time high.
  • Blackstone rose 6.30% to a new record high after the world’s largest alternative asset manager reported an excellent quarter.
  • Expedia popped 4.75% after a report by the Financial Times revealed that Uber had explored an acquisition of the travel site. Expedia shareholders cheered the news, while Uber shares sank 2.45%.

Stocks Down

  • Robinhood fell 2.27% after announcing its new Legend trading platform geared specifically toward advanced traders.
  • Lucid Group plummeted 17.99% on the news that the EV automaker is offering over 262 million shares of its common stock in an attempt to raise funds.
  • CSX dropped 6.71% after missing both top- and bottom-line estimates last quarter thanks in no small part to hurricanes Helene and Milton.
  • Health insurance stocks took a beating today due to a not-great earnings report from Elevance Health (more on that below, too). Centene Corp. fell 9.09%, while Molina Healthcare tumbled 12.55%.

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Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) slipped 1.00point (–0.02%) to 5,841.47; the $DJI added 161.35 points (0.37%) to 43,239.05; and the NASDAQ Composite®($COMP) rose 6.53 points (0.04%) to 18,373.61. 
  • The 10-year Treasury note yield (TNX) climbed eight basis points to 4.1%.
  • The CBOE Volatility Index® (VIX) sank to 18.97 by late Thursday, a two-week low.

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The average amount owed on “upside down” auto loans, in which the balance is more than the car is worth, hit a record high of $6,458 in the third quarter, according to Edmunds, a site that helps consumers research and buy cars

Diabetes advocates have officially joined the fight against pharmacy benefit managers (PBMs).

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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: Walgreens, Mental Health, M&As, Pfizer and Eli Lilly as the Markets Tank

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

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Stat: $106.8 million. That’s how much Walgreens agreed to pay the federal government to settle claims that the company fraudulently billed government programs for prescriptions that were never dispensed. (the Wall Street Journal)

Quote: “We put a Band-Aid on a chronic situation and that Band-Aid isn’t going to last.”—Roland Behm, co-founder of the Georgia Mental Health Policy Partnership advocacy group, on the shortage of mental health care services following the Apalachee High School shooting (KFF Health News)

EY’s latest monthly M&A report found that in August, the total value of large deals (worth $100+ million) reached $1.1 trillion, a 26% YoY jump. This was thanks in part to a 44% YoY increase in deal value last month, to $137 billion, according to the report.

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What’s up

  • US Steel gained 1.57% as the battle over the future of the legacy steelmaker continues.
  • Intuitive Machines skyrocketed 38.33% thanks to a deal between the space communications company and NASA worth over $4.8 billion.
  • Victoria’s Secret popped 3.63% after Barclays analysts upgraded shares from “Underweight” to “Equal Weight.”
  • Barclays analysts were active today, boosting VF Corp. 3.89% by upgrading the shoewear company from “Equal Weight” to “Overweight.”
  • Duolingo rose 3.20% to a new all-time high, and though there was no news propelling the multilingual app higher, shares have continued to rise ever since its strong earnings announcement in early August.

What’s down

  • ResMed tumbled 5.12% thanks to a downgrade from Wolfe Research due to concerns that a new drug from Eli Lilly may eat into the med tech company’s share of the CPAP machine market.
  • eBay sank 2.64% after its CFO sold over $1.9 million in company stock.
  • Cencora fell 2.58% on the news that the drug distributor paid hackers $75 million in ransom over the course of three bitcoin installments, the largest cyberattack extortion payment ever.

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

Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) fell 16.32 points (–0.29%) to 5,618.26; the Dow Jones Industrial Average® ($DJI) lost 103.08 points (–0.25%) to 41,503.10; the NASDAQ Composite® ($COMP) decreased 54.76 points (–0.31%) to 17,573.30.
  • The 10-year Treasury note yield rose four basis points to 3.69%.
  • The CBOE Volatility Index® (VIX) climbed to 18.23, the highest since September 10.

CITE: https://tinyurl.com/tj8smmes.

At the end of August, pharmaceutical giant Pfizer announced a new website called PfizerForAll, which provides information on common health issues like migraines or the flu and connects patients to tele-health services and prescription delivery services so they can get treatments and diagnostic tests delivered to their homes. Pfizer promotes some of its own therapies, including Paxlovid for Covid-19 and Nurtec for migraines, on the site.

And, that move came after rival pharmaceutical company Eli Lilly started LillyDirect in January, through which the company delivers prescriptions straight to patients. Eli Lilly also partnered with Amazon Pharmacy in March to deliver some of its medications to consumers’ doorsteps, including Ozempic competitor Zepbound, a GLP-1 weight loss drug.

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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

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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: Walgreens, Healthcare Fraud and Opioids as Stock Markets Hurt

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

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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In an interview with the Wall Street Journal, CEO Tim Wentworth said the pharmacy chain Walgreens will shutter a significant share of its 8,600 locations in the US. The closures are part of a broader attempt to boost the ailing company, which also includes reducing its stake in the primary care business VillageMD. Wentworth said the company can reassign most employees instead of conducting layoffs. Shares cratered yesterday after Walgreens whiffed on Wall Street’s earnings projections due to weak consumer spending.

And, read how some counties reduced opioid overdose deaths during the pandemic. (Politico)

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What’s up

  • Oliveda International, which makes beauty products from olive oil, rose 38.33% for no apparent reason. Maybe people just really like the feel of extra virgin olive oil on their skin?
  • Infinera popped 16.38% after Nokia announced it would acquire the telecommunications hardware manufacturer for $2.3 billion.
  • Synchrony Financial rose 6.17% after a Baird analyst initiated coverage of the financial services company with an outperform rating.
  • Regional banking stocks rose on the hopes that a good PCE reading means a better chance of the Fed cutting rates soon. Regions Financial rose 3.83%, while Citizens Financial Group rose 3.16%.

What’s down

A late round of selling in the Treasury market sent yields to fresh highs as the day ended so here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) dipped 22.39 points (0.41%) to 5,460.48; the Dow Jones Industrial Average® ($DJI) fell 45.20 points (0.12%) to 39,118.86; the NASDAQ Composite® ($COMP) lost 126.08 points (0.71%) to 17,732.6.
  • The 10-year Treasury note yield climbed nine basis points to 4.38%.
  • The CBOE Volatility Index® (VIX) moved up slightly to 12.43.

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Nearly 200 people have been charged for their roles in various health care fraud schemes across the U.S. that federal authorities say amounted to over $2.7 billion in intended losses, the Justice Department announced. Attorney General Merrick Garland said charges against 193 people, including 76 doctors, nurse practitioners, and other licensed medical professionals in 32 different federal districts. The defendants were charged over a two-week sweep involving numerous law enforcement agencies nationwide, resulting in the seizure of more than “$231 million in cash, luxury vehicles, gold, and other assets,” according to Garland.

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VALUE BASED CARE: CVS and Walgreens

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

The retail pharmacy giants have made a string of multi-billion dollar deals!

By Staff Reporters

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CVS and Walgreens have been spending money like there is no tomorrow! In fact, the two retail pharmacy giants have made a string of multi-billion dollar acquisitions of primary care providers in the past couple years, including the $5.2 billion VillageMD acquisition in 2021 (Walgreens) and the $10.6 billion plan to buy Oak Street Health (CVS).

VillageMD also bought primary care clinic operator Summit Health-CityMD in January 2023, which Walgreens invested $3.5 billion in, and CVS spent roughly $8 billion to acquire Signify Health, a value-based payment platform, in September 2022.

So what do all these deals have in common? Value-based care.

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DAILY UPDATE: Top Causes of Death, Narcan Saves Lives but Scientific Research Fraudulent as DJIA Tops 40,000

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

MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Essays, Opinions and Curated News in Health Economics, Investing, Business, Management and Financial Planning for Physician Entrepreneurs and their Savvy Advisors and Consultants

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Walgreens has released its own brand of naloxone, a medication that reverses the effects of an opioid overdose. Available online now, Walgreens Brand Naloxone HCl Nasal Spray comes with two doses for $34.99, about $10 cheaper than the name-brand version, Narcan. The over-the-counter medication will also be available in stores by the end of May in the pain aisle, according to a press release, making the life-saving nasal spray more accessible.

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Here’s where the major benchmarks ended:

  • The S&P 500 index rose 6.17 points (0.1%) to 5,303.27, up 1.5% for the week; the Dow Jones Industrial Average gained 134.21 points (0.3%) to 40,003.59, up 1.2% for the week; the NASDAQ Composite® ($COMP) lost 12.35 points (0.1%) to 16,685.97, up 2.1% for the week.
  • The 10-year Treasury note yield (TNX) rose more than 4 basis points to 4.42%, down about 8 basis points for the week.
  • The CBOE Volatility Index® (VIX) fell 0.43 to 11.99.

Among major companies, Nvidia (NVDA) dropped 2% Friday but still posted a 2.9% advance for the week ahead of the semiconductor leader’s quarterly earnings Wednesday. Among sectors, energy shares led gainers behind a 1% jump in WTI Crude Oil (/CL) futures. The small-cap Russell 2000® Index (RUT) ended little changed but still gained 1.7% for the week.

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Fraudulent research papers have cost scientific journal publishers millions in lost revenue. (the Wall Street Journal)

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The 10 Top Causes of Adult Death in the U.S.A.

1.  Heart disease 267.2* 2.  Cancer 142.3 3.  Unintentional injuries 64.0 4.  COVID-19 44.5 5.  Stroke 39.5 6.  Chronic lower respiratory disease 34.3 7.  Alzheimer disease 28.9 8.  Diabetes 24.1  9   Kidney disease 13.8 10. Chronic liver disease and cirrhosis 13.8 Deaths per 100,000 population.

Source: Jeffrey Bendix, Medical Economics [5/15/24]

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DAILY UPDATE: Rare Disease Day Visibility, Rite Aid Down as Markets Rise Up

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

By Staff Reporters

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Welcome back to the Gregorian calendar. Along with being a leap day, yesterday was Rare Disease Day—bringing visibility to the 7,000 conditions that each affect fewer than 200,000 people in the US. Combined, around 10% of US residents have one, per the National Institute of Health.

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  • Rite Aid is planning to close 77 stores in 2024 as part of its Chapter 11 bankruptcy.
  • That makes 431 stores that the drugstore chain has decided to close since October.
  • Rite Aid has been shrinking its store count for years, losing ground to rivals Walgreens and CVS.

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Here’s where the major benchmarks ended:

  • The S&P 500 index added 40.81 points (0.8%) to 5,137.08, up 0.95% for the week and its seventh weekly gain in the past eight; the Dow Jones Industrial Average® (DJI) gained 90.99 points (0.2%) to 39,087.38, down 0.1% for the week; the NASDAQ Composite rose 183.02 points (1.1%) to 16,274.94, up 1.7% for the week.
  • The 10-year Treasury note yield fell about 7 basis points to 4.182%.
  • The CBOE Volatility Index® (VIX) dropped 0.29 to 13.11.

Chipmaker strength drove a 4.3% advance in the Philadelphia Semiconductor Index (SOX), which ended at a record high. The NASDAQ-100®(NDX), which includes the NASDAQ’s largest non-financial companies, also ended at a record high. Small-cap shares finished the week strong. The Russell 2000® Index (RUT) rose 1.1% to settle at a 23-month high and notched a 3% gain for the week. 

Banks were among the weakest performers as concerns over regional lenders flared up, underscored by another nosedive in shares of troubled New York Community Bancorp (NYCB).

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DAILY UPDATE: Bye-Bye Walgreens & Hello Amazon and Reddit

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

By Staff Reporters

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On Tuesday, February 20th, the S&P Dow Jones Indices, which oversees additions and subtractions to the highly followed Dow Jones Industrial Average, announced that, as of the start of trading on Monday, February, 26th pharmacy chain Walgreens Boots Alliance (NASDAQ: WBA) would be getting the literal boot.

Meanwhile, e-commerce kingpin Amazon (NASDAQ: AMZN) will be taking its place.

And, Reddit filed to go public last week in an IPO that will resemble the platform itself—unusual, chaotic, and reliant on its opinionated users. Planned for next month, Reddit’s public listing will be the first social media IPO since Pinterest in 2019 and the first major tech IPO of the year.

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DAILY UPDATE: Stock Markets Extend Record Climb Ending Strong Week

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

By Staff Reporters

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An astonishing week in the stock market wrapped up with the S&P 500 hitting a record high. While Nvidia’s blowout earnings were the stars. For example, kudos to Carvana, which recorded its first-ever annual profit on its comeback tour from the COVID-19 pandemic.

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Here’s where the major benchmarks ended:

  • The S&P 500 index rose 1.77 points (0.03%) to 5,088.80, up 1.7% for the week; the Dow Jones Industrial Average gained 62.42 points (0.2%) to 39,131.53, up 1.3% for the week; the NASDAQ Composite tumbled 44.80 points (0.3%) to 15,996.82.
  • The 10-year Treasury note yield (TNX) shed more than 7 basis points to 4.252%.
  • The CBOE Volatility Index® (VIX) fell 0.79 to 13.75.

Retailers were among the market’s upside leaders Friday, with the S&P Retail Select Industry Index (SPSIRE) gaining 1.8% and ending at a 22-month high. The retail sector got a boost this week from Walmart’s (WMT) stronger-than-expected results reported Tuesday. The biggest U.S. retailer gained 3.1% this week and closed Friday near a record high above $175. Utility shares were also strong Friday.

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Healthcare Corporate Business Updates

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

By Staff Reporters

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Walgreens tapped Mary Langowski, a former CVS Health executive, to lead its U.S. healthcare segment. The move comes as the retail pharmacy giant looks to boost profitability in its healthcare business.

CVS Health cut its outlook for 2024 on the back of higher medical costs in the fourth quarter. The drugstore chain, which owns Aetna, joins other healthcare companies to see a spike in utilization.

And … following up on a federal law passed in September to increase competition among organ transplant contractors, HRSA is issuing requests for proposals for several different contracts.

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WALGREENS: Quarterly Dividend Cuts

Posted on January 14, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Walgreens doled out some tough medicine to its investors this week when it cut its quarterly dividend to shareholders nearly in half, in a move to conserve cash and strengthen its long-term financial position, according to CEO Tim Wentworth.

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Illinois-based Walgreens Boots Alliance Inc (WBA), which operates one of the largest US drugstore chains, on Thursday declared a quarterly dividend of 25 cents per share, a reduction from 48 cents per share the previous quarter. The dividend will be payable on March 12th.

The move will allow Walgreens to increase cash flow and free up capital “to invest in sustainable growth initiatives in our pharmacy and healthcare businesses, which we believe will ultimately improve shareholder value,” Wentworth said in a statement.

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DAILY UPDATE: Walgreens’s Dividend Dives as Stocks Post Down Week

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

By Staff Reporters

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DEFINITION: A stock dividend is a payment to shareholders that consists of additional shares rather than cash. The distributions are paid in fractions per existing share. For example, if a company issues a stock dividend of 5%, it will pay 0.05 shares for every share owned by a shareholder. The owner of 100 shares would get five additional shares.

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Stat: 3.9%. That’s Walgreens’s new dividend yield after the pharmacy chain cut its quarterly dividend of 7.0%. The company said that it was using the money to “strengthen [its] long-term balance sheet and cash position.” Walgreens stock fell 11% the day after the announcement. (CNBC)

Here is where the major benchmarks ended:

  • The S&P 500 index was up 8.56 points (0.2%) at 4,697.24, down 1.6% for the week; the Dow Jones Industrial Average® (DJI) was up 25.77 points (0.1%) at 37,466.11, down 0.6% for the week; the NASDAQ Composite® (COMP) was up 13.77 points (0.1%) at 14,524.07, down 3.2% for the week.
  • The 10-year Treasury note yield (TNX) was up about 6 basis points at 4.051%.
  • The CBOE® Volatility Index (VIX) was down 0.77 at 13.36.

Consumer staples and real estate ranked among the market’s weakest performers Friday, and technology shares remained under pressure with tech bellwether Apple (AAPL) extending this week’s nearly-6% slide and ending near a two-month low. Financial shares were one of the stronger sectors with the Philadelphia KBW Bank Index (BKX) rising 1.6% to a 10-month high. Small-cap stocks remained in the red with the Russell 2000® Index (RUT) ending the week down 3.7%. 

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DAILY UPDATE: Thanksgiving Travel Gas Prices Down – Narrow Traffic Lanes Safer – Walgreens Pharmacies Closed as the Stock Markets Roar

Posted on November 23, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

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Thanksgiving is a trading holiday. Both the New York Stock Exchange and the Nasdaq are closed. Black Friday, one of the biggest shopping days of the year, is a half day for the stock market. Both stock exchanges close at 1:00 p.m. ET, with eligible options trading until 1:15 p.m. Normal trading hours resume on the Monday after Thanksgiving, also known as Cyber Monday, when many online retailers host major sales.

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Thanks to plummeting prices at the pump, US drivers will save a collective $1.2 billion this Thanksgiving travel period, and day, compared to last year, according to GasBuddy. The average price per gallon is down nearly 46 cents from a year ago, and more than 50,000 stations now show gas prices at $2.99/gallon or less.

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Narrow traffic lanes are safer than wide ones. Researchers at Johns Hopkins analyzed more than 1,000 streets in seven major cities across the US and found that narrower roads mitigated traffic collisions in certain conditions. The study did not find a significant difference between roads 9-feet wide and those 10- or 11-feet wide, but it did conclude that traffic accidents increase 1.5x when a road widens from 9 feet to 12 feet. Traffic fatalities are the leading cause of death for Americans aged 1–54.

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Walgreens will close most of its pharmacies and stores on Thanksgiving Day for the first time in the company’s history, executives said last Thursday. The move to close more than 8,700 stores for the federal holiday comes as some Walgreens workers staged a three-day walkout this fall to push for improved working conditions and increased staffing numbers, Reuters reported.

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Here is where the major benchmarks ended on Wednesday:

  • The S&P 500 Index was up 18.43 points (0.4%) at 4,556.62, near a four-month high close; the Dow Jones Industrial Average®(DJI) was up 184.74 points (0.5%) at 35,273.03; the NASDAQ Composite was up 65.88 points (0.5%) at 14,265.86.
  • The 10-year Treasury note yield (TNX) was down about 1 basis point at 4.41%, after earlier dropping to a two-month low under 4.37%.
  • CBOE Volatility Index (VIX) was down 0.50 at 12.85.

Communications services and technology were among the strongest performers Wednesday. Food and beverage companies were also firm. Energy shares were among the weakest performers Wednesday behind a drop of over 1% in WTI Crude Oil futures (/CL). ), which fell following reports OPEC delayed a weekend meeting until November 30th, a possible reflection of cartel members struggling to reach consensus over production cuts. WTI crude ended just under $77 a barrel, down 19% from a 2023 high above $95 in late October.

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FRIDAY 13th: Triskaidekaphobia

Posted on October 13, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Triskaidekaphobia, or fear of the number 13, does not fit neatly into a clinical definition of a specific phobia. The number 13 is not an object or a situation, and it can be impossible for the sufferer to avoid. Moreover, in order for a phobia to be diagnosed, it must significantly impact the sufferer’s life. Most people with triskaidekaphobia find that their fear only arises in certain situations, and does not significantly impair their lives. But could this phobia just be linked to superstition? 

Experts have long debated the scientific validity of triskaidekaphobia. Some feel that it should be classified as superstition or even taken as a sign of magic, which in conjunction with other symptoms, could point to a delusional disorder.

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Fearfully, stocks dropped yesterday as fresh inflation data renewed fears that the Fed will keep rates higher for longer. The Consumer Price Index in September held steady at 3.7%—still a ways off from the Fed’s 2% target for inflation. News was better for Walgreens, whose shares jumped 7% after the pharmacy giant reported smaller losses and showed progress in its plan to cut costs.

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WALGREENS: Pharmacists Walk-Off Job

Posted on October 10, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Pharmacy employees at Walgreens across the country walked off the job yesterday, citing harsh working conditions created by undersized staff that leave them unable to safely fill prescriptions while meeting the demands of a busy vaccine season. The three-day walkout was organized entirely via social media, as the group lacks a centralized labor union like the WGA and UAW.

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RITE AID: Gets it Financially Wrong?

Posted on September 20, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Last quarter, interest expense grew to $65 million from $48 million last year, contributing to Rite Aid reporting a net loss of $306.7 million despite sales of $5.6 billion. Management forecasts a net loss of between $650 million and $680 million for the full fiscal year 2024. Rite Aid’s losses leave it with little financial wiggle room to navigate two significant headwinds: a looming lawsuit and increasing losses from theft.

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In March, for example, the Department of Justice filed a civil suit against Rite Aid, claiming pharmacists “repeatedly filled prescriptions for controlled substances with obvious red flags” and alleging it “intentionally deleted internal notes about suspicious prescribers.”

The lawsuit continues a string of high-profile cases brought against companies contributing to the spread of the opioid epidemic. Opioid drugmakers Purdue Pharma, Endo Pharmaceuticals, and Mallinckrodt have already declared bankruptcy because of lawsuits. Walgreens and CVS Health have inked opioid settlements valued at $5.7 billion and $4.9 billion over the past year.

How much Rite Aid would need to pay to settle its suit remains to be seen, but a billion-dollar price tag isn’t unfathomable, given Walgreens and CVS’ outcomes. 

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NARCAN: OTC Naloxone Hydrochloride

Posted on September 10, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

NARCAN

By Staff Reporters

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According to Morning Brew, for the first time, people across the US will be able to purchase an overdose-reversal drug that’s as easy to administer as Flonase, without a prescription. Next week, nationwide chains like Walgreens, CVS, Walmart, and Rite Aid will begin selling two-dose boxes of Narcan, a naloxone nasal spray that saves people from opioid overdose, in stores and online.

Making naloxone widely accessible has long been a goal for public health experts because Fentanyl-laced drugs can kill people before paramedics arrive, but some now worry that over-the-counter Narcan’s $45 retail price could be too high for those who need it most.

That’s where insurance comes in:

  • Medicaid and Medicare already cover prescription naloxone, and so far, Missouri, California, Massachusetts, Washington, Rhode Island, and Oregon Medicaid programs said they’ll cover OTC Narcan, too.
  • While private health plans often restrict OTC drug coverage, Blue Cross Blue Shield of Massachusetts said it’ll fully cover nonprescription Narcan.

But this won’t help the one-fifth of people with opioid use disorder who are uninsured. Some government and harm reduction programs give out Narcan for free—and those groups can now order two-dose boxes in bulk at a discounted $41 per box, according to manufacturer Emergent BioSolutions.

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Corporate Moves in Healthcare Continue to Disrupt the Industry

Posted on April 12, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Health Capital Consultants LLC

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Instead of waiting on regulatory reform, corporate America has sought to disrupt the healthcare industry over the last few years, by streamlining the delivery of healthcare (and associated costs) and taking advantage of technological advancements.

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This entrepreneurial approach to problem-solving may provide meaningful competition to traditional healthcare organizations, which may result in higher quality, more affordable healthcare. Some of the biggest companies in the U.S. – CVS Health, Walgreens, Amazon, Walmart, and Best Buy – are expanding their healthcare empires through acquisitions and other strategic moves. (Read more…) 

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DAILY UPDATE: About the Markets

Posted on April 4, 2023 by Dr. David Edward Marcinko MBA MEd CMP™

By Staff Reporters

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Major U.S. stock indexes ended mixed, after the announcement of a surprise OPEC+ production cut sent crude oil prices to two-month highs and fueled inflation concerns that could keep the Federal Reserve in policy-tightening mode. This weekend, several OPEC+ members, including Saudi Arabia, announced production cuts totaling nearly 1.2 million barrels a day that are slated to start in May. In response, WTI crude futures soared above $80 a barrel. Word of the planned cuts also boosted expectations that the Fed could raise its benchmark interest rate again in May as the central bank extends efforts to tamp down inflation. The OPEC+ cuts “suggest more headline inflation pressure in the near-term,” says Jeffrey Kleintop, chief global investment strategist at Charles Schwab & Co. The potential for further waves of inflation will “keep central banks from declaring victory over excessive price gains,” he adds. “That’s another headwind for tech stocks and other ‘long duration’ equities that get more of their cash flow in the future than in the near term.”

CITE: https://www.r2library.com

The following is a round-up of today’s market activity:

  • The S&P 500® Index was up 15.2 (0.4%) at 4124.51, the highest close since Feb. 15; the Dow Jones industrial average was up 327 (1.0%) at 33601.15; the NASDAQ Composite was down 32.45 (0.3%) at 12189.45.
  • The 10-year Treasury yield was down about 7 basis points at 3.417%.
  • CBOE’s Volatility Index was down 0.14 at 18.56.

Oil producers and other energy companies led gainers Monday. Health care stocks also outperformed. Consumer discretionary and real estate were among the laggards.

Among individual stocks, Tesla (TSLA) shares tumbled over 6% following reports the electric car-maker delivered just 423,000 vehicles in the first quarter. Analysts had expected 430,000, according to research firm FactSet.

Looking ahead, medical companies, especially vaccine makers, may be worth watching this week with the World Vaccine Congress taking place in Washington, D.C. Some well-known vaccine makers include Moderna (MRNA), Johnson & Johnson (JNJ), and GlaxoSmithKline (GSK). Late last month, Walgreens Boots Alliance (WBA) reported a steep year-over-year decline in demand for COVID-19 vaccinations.

The U.S. dollar index fell slightly, while gold futures climbed above $2,000 per ounce to post their highest close in over two years.

CITE: https://www.amazon.com/Dictionary-Health-Information-Technology-Security/dp/0826149952/ref=sr_1_5?ie=UTF8&s=books&qid=1254413315&sr=1-5

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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283

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