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

By Dr. David Edward Marcinko MBA on August 1, 2024

MEDICAL EXECUTIVE-POST - TODAY'S NEWSLETTER BRIEFING

***

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

"Serving Almost One Million Doctors, Financial Advisors and Medical Management Consultants Daily"

A Partner of the Institute of Medical Business Advisors , Inc.

http://www.MedicalBusinessAdvisors.com

SPONSORED BY: Marcinko & Associates, Inc.

***

http://www.MarcinkoAssociates.com

Daily Update Provided By Staff Reporters Since 2007.
How May We Serve You?

REFER A COLLEAGUE: MarcinkoAdvisors@msn.com

SPONSORSHIPS AVAILABLE: https://medicalexecutivepost.com/sponsors/

ADVERTISE ON THE ME-P: https://tinyurl.com/ytb5955z

Your Referral Count -0-

***

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.

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

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.

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

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.

CITE: https://tinyurl.com/tj8smmes

COMMENTS APPRECIATED

PLEASE SUBSCRIBE: MarcinkoAdvisors@msn.com

Thank You

***

EDUCATIONAL TEXTBOOKS: https://tinyurl.com/4zdxuuwf

***

Comment

You can also reply to this email to leave a comment.

The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants © 2024.
Manage your email settings or unsubscribe.