DAILY UPDATE: Intel, Colon Cancer, Fewer Cardiologists and UnitedHealth Tactics as the Stock Markets Tank!

By Dr. David Edward Marcinko MBA on August 2, 2024

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Stat: $895. That's the out-of-pocket cost for a blood test that screens for colon cancer, which may receive more widespread insurance coverage now that it has FDA approval. (CNBC)

Quote: "There's no question that the health statistics of rural America are worse than the health statistics of more urban America."—Robert Harrington, a cardiologist and dean of Weill Cornell Medicine, on the lack of cardiologists in rural parts of the US (the Washington Post)

Read: Critics say that UnitedHealth has used questionable tactics and exploitation to achieve dominance in healthcare. (Stat)

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

Intel is slashing 15% of its staff as part of a $10 billion plan to reduce costs, the tech company announced in its second-quarter earnings Thursday.

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

What's up

Shake Shack popped 16.89% thanks to an impressive increase in revenue last quarter as the burger chain bucked the cost-conscious consumer trend.
Eli Lilly rose 3.50% on the news that its GlP-1 weight loss drug also cuts risks of heart failure in patients with obesity.
Carvana rallied 10.07% after surprising investors with strong earnings and some very positive forward guidance.
Rolls-Royce revved 7.01% to a new all-time high after it reinstated its dividend and raised its profit forecast for the year.
C.H. Robinson Worldwide climbed 14.78% after impressing shareholders with strong cost-cutting measures that boosted earnings surprisingly well last quarter.

What's down

Wayfair fared poorly after earnings, falling 6.97% as customers closed up their wallets and spent less on home goods.
Crocs tanked 2.65% after beating analyst expectations this quarter, with shareholders more concerned over a potential slowdown next quarter.
Moderna bombed 21.01% after lowering full-year revenue guidance due to lower sales in Europe and a tough market in the US.
MGM Resorts International plummeted 12.24% in spite of reporting outstanding second-quarter earnings.
Roblox dropped 6.45% despite reporting good numbers, but shareholders are concerned with the CFO's departure and lower-than-expected bookings.
Qualcomm dipped 9.37% even though the company beat analyst expectations, as investors collect profits.
Arm Holdings tumbled 15.72% after its guidance disappointed shareholders and the company announced it will no longer report chip volumes.
Teladoc Health sank 8.91% on terrible earnings and the write-down of its 2020 acquisition of Livongo.

CITE: https://tinyurl.com/tj8smmes

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

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