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Modern HealthModern Health provides personalized mental health treatment to employers, including coaching and therapy. Lennox-Miller said it's unlikely Modern Health could snag the same valuation from its last fundraise in a deal today. DeGagne said employer-focused mental health startups such as Modern Health have the potential for more profitable growth with "stickier" recurring revenue models. He said pharmacy giants Walgreens or CVS Health might seek to pick up a mental health asset like Modern Health. In a statement provided by Modern Health, Forrester senior analyst Jonathan Roberts said, "Modern Health is certainly a partner with its finger on the pulse.
Persons: Alyson Watson, Alexander Lennox, Miller, fundraise, DeGagne, Forrester, Jonathan Roberts Organizations: Modern Health, Health, Lennox, BI, Modern, Walgreens, CVS Health, CVS
Bausch Health Companies on Tuesday morning reported first-quarter top- and bottom-line misses — putting embattled shares under pressure. BHC YTD mountain Bausch Health YTD Bottom line Along with quarterly results, Bausch Health reaffirmed forward guidance. While not necessarily expected to see a massive increase in adoption in the future like Lilly's GLP-1s, Xifaxan currently accounts for 41% of Bausch Health sales, excluding B+L. Breaking that down: $4.7 billion to $4.85 billion are attributable to Bausch Health (implying 2% to 5% organic growth), with $4.6 billion to $4.7 billion attributable to Bausch + Lomb. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Bausch, Eli Lilly, It's, Xifaxan, Jim Cramer's, Jim Cramer, Jim, Rafael Henrique Organizations: Health, Bausch Health, Norwich Pharmaceuticals, Amneal Pharmaceuticals, Food and Drug Administration, Management, CNBC Locations: generics, Norwich
The action quickly and sharply reversed back to the upside Friday after blowout earnings reports from Alphabet and Microsoft . In the week ahead, earnings are likely to drive the action again, though we'll get a few important macroeconomic reports. Earnings: We've got the biggest week of the earnings season ahead of us, with 12 Club holdings set to report. Eli Lilly 's report Tuesday morning continues to be all about sales of type-2 diabetes treatment Mounjaro and weight-loss drug Zepbound. In DuPont 's report Wednesday morning, we're looking for a continued rebound in its semiconductor business following a sequential increase last quarter.
Persons: Ford, we'll, Dow Jones, We've, Buckle, Eaton, Eli Lilly, Lilly, We're, Estee Lauder, Fabrizio Freda, we've, Linde, Bausch, Royal Philips, Woodward, SIRI, Archer, Johnson, Stanley Black, Decker, BAX, Cardinal Health, Parker, Belden, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Microsoft, Meta, Google Search, Big Tech, Nvidia, Broadcom, Ford Motor, Honeywell, Danaher, Labor Department, Labor, PMI, Services PMI, GE Healthcare, Amazon Web Services, Starbucks, Deutsche Bank, DuPont, Bausch Health, U.S ., Appeals, Apple, iPhones, Vision, ON Semiconductor, Resource Partners, Franklin Resources, Paramount, Transocean Ltd, Semiconductors, Arch Capital, Logitech International, Lattice Semiconductor, F5 Networks, Sanmina Corporation, GE HealthCare, PayPal, 3M Company, McDonalds, Enterprise Products Partners, Cola Company, Melco Resorts, Entertainment, SiriusXM Holdings, Oatly, American Electric Power Company, Leidos Holdings, Marathon Petroleum, Daniels, Midland Co, Equitrans Midstream Corporation, HSBC Holdings, HSBC, Devices, Caesars Entertainment, Lumen Technologies, Mondelez, Pfizer, CVS Health, Barrick, Mastercard Inc, Cruise Line Holdings Ltd, Kraft Heinz Company, Marriott International, Ares, Generac Holdings, Johnson Controls, Cenovus Energy Inc, Qualcomm, Devon Energy, Paycom, Axcelis Technologies, Coeur D'Alene Mines, Sunnova Energy International, MGM Resorts International, MGM, Solar Inc, Oil, Allstate, Co, Tenable Holdings, Enovix Corporation, Gladstone Capital, Avis Budget Group, eBay, EBAY, LIN, Novo Nordisk, Natural Resources, PENN Entertainment, Apache, ConocoPhillips, InMode Ltd, Baxter International, Cardinal, Regeneron Pharmaceuticals, Apollo Global Management, LLC, Cinemark Inc, Dominion Energy, Coterra Energy, Coinbase, Bill.com Holdings, Booking Holdings, United States Steel, AXT Inc, Materials, Energy, Hershey Company, XPO Logistics, Cboe, American Pipeline, Amneal Pharmaceuticals, Brookfield Business Partners, Brookfield Renewable Corporation, Magna International, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Bloomberg, Getty Locations: U.S, megaprojects, China, Eaton, Corning, Coeur D'Alene, Albemarle, ALB, Novo, New York
Special Education, Inc.
  + stars: | 2024-04-21 | by ( Meghan Morris | ) www.businessinsider.com   time to read: +34 min
AdvertisementNate Smallwood for BITo some, private equity's business model appears antithetical to special education. (The average public school district in Pennsylvania, where New Story operates the most schools, spends about $23,000 per child across all types of public education. "Private equity has no place in education — especially special education," Sen. Sherrod Brown of Ohio told BI. For instance, two Pennsylvania education directors left in spring 2023, according to records obtained by BI — one after just months in the role. AdvertisementNickie Coomer, a Colorado College education professor who has written about the privatization of special education, told BI that this data gap is a major regulatory hole, one that private-equity companies are happy to exploit.
Persons: Emily, Sarah, Nate Smallwood, Sarah didn't, , Mergermarket, Shanon Taylor, Taylor, Sen, Sherrod Brown, Bob Casey of Pennsylvania, Casey, Paul Volosov, Volosov, Jim Grinnen, Rachel Wisniewski, Christina Spielbauer, Spielbauer, Nathaniel Garnick, Garnick, sully, Craig Richards, He's, Richards, they're, " Richards, Judith McKinney, Grinnen, Donnell McLean, McLean, Natalie Stoup, Blackstone, haven't, Biden, of Education spokespeople, Nickie, , that's, didn't, Hill, Amy Hall Kostoff, Kostoff, Green, she'd Organizations: Business, State College ,, New, BI, Audax Group, Kentucky, Pennsylvania State Employees, Schools, Audax, Rock Academy, University of Nevada, Ohio, Pennsylvania Department of Education, Rock, Reading School District, River Rock Academy, Virginia's Department of Education, Green Tree, Pay, Tree, Autism, Forbes, NBC News, Federal Trade Commission, of Education, Colorado College, Tree School, Pennsylvania's Department of Education, Pennsylvania, In State College Locations: State College , Pennsylvania, Boston, Pennsylvania, Reno, , Ohio, New Story's, Rock, Virginia, , Ohio, New Jersey , Pennsylvania, New Story's New Cumberland , Pennsylvania, CARD's Virginia, Philadelphia, Rochelle Park , New Jersey
Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Amazon's recent AI moves have been impressive, specifically its close relationship with fellow Club holding Nvidia and, most recently, its multibillion-dollar venture investment in startup Anthropic. Best Buy : We added the electronics and appliance retailer to the portfolio shortly after the Monthly Meeting concluded. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Jim, Jim Cramer, Reckitt Benckiser, Abbott, We've, Here's, Salesforce, that's, Walt Disney, Nelson Peltz, Estee Lauder, he'd, Ford, We're, we'll, Vimal Kapur, Kapur, Linde, Eli Lilly, TikTok, Meta's Ray, Morgan Stanley, Reddit, Morgan, Ted Pick, he's, it's, Stanley Black, Decker, TJ Maxx, Wells, Wynn, Spencer Platt Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Department of Justice, Abbott Laboratories, Nvidia, Broadcom, Investors, Bausch Health, Pharmaceuticals, Costco Wholesale, Costco, GTC, Coterra, DuPont De Nemours, DuPont, stoke, Peltz, Disney, Eaton Corporation, Ford, General Motors, Wall, GE Healthcare Technologies, General Electric, Apple, Google, Bloomberg, . Honeywell, Honeywell, UBS, Meta, Microsoft, Palo Alto Networks, Palo Alto, Procter & Gamble, Starbucks, Constellation Brands, Stanley, TJX, Marshalls, Wynn Resorts, Jim Cramer's Charitable, Traders, New York Stock Exchange, Getty Locations: China, Costco, U.S, East, Mexican, Growth, HomeGoods, Wells Fargo, Macao
He's launched a new company, Foundation Health, to help them do that quickly and at a low cost. Foundation aims to make it easy for insurers to set up their own online pharmacies and pharma companies to sell drugs directly to consumers. "The main focus area for us is to help health plans disintermediate PBMs," Afridi said. Foundation Health wants to help customers ditch big PBMsFoundation's software enables a few different things. Finally, direct-to-consumer health companies can plug into Foundation's technology to power their services, instead of building their own pharmacies and hiring doctors.
Persons: Umar Afridi, disruptors, Afridi, He's, disintermediate, Garry Tan, Y, they've, pocketing, Eli Lilly's, Jack Altman Organizations: California, Cuban, Plus, Business, Foundation Health, Foundation, pharma, Alt, Liquid Ventures, Exceptional, Storm Ventures, PageOne Ventures, Federal Trade Commission Locations: drugmakers
SignosFounded in 2018, Signos uses continuous glucose monitors, or CGMs, and an artificial intelligence-powered app to help people better understand their metabolisms. But Signos' CGM system is meant for average consumers, so it is not intended for diabetes management. The Signos app walked me through the process step by step, offering a one-minute video and a series of GIFs I could watch. Another activity had me try and guess what I thought my glucose levels were at different points throughout the day. After eating a meal, I would often get a "Fast Rise" notification from my Signos app, which indicates that a glucose spike is occurring.
Persons: Ashley Capoot, I've, Signos, Dexcom, Sharam Fouladgar, you've, it's Organizations: CNBC, Abbott Laboratories, Centers for Disease Control, U.S . Food, Drug Administration, Dexcom Ventures, Bluetooth Locations: U.S, Mercer
Following Thursday's trade, Jim Cramer's Charitable Trust will own 2,930 shares of BHC, decreasing its weighting in the portfolio to 0.82% from 1.1%. We're trimming roughly one-quarter of our Bausch Health position to manage our downside risk ahead of a key event. As the likelihood of monetizing its BLCO stake increases, BHC shares are expected to trade appreciably higher. BHC 1Y mountain Bausch Health Companies 1 year What we have on our hands is a binary situation and the outcome could go either way. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Xifaxan, Bausch, Jefferies, BHC, Johnson, haven't, we've, It's, Jim Cramer, Jim Organizations: Bausch Health, Jefferies, Health, CNBC
Bausch Health Companies reported a fourth-quarter earnings beat on Tuesday. However , the stock's upside is likely limited until the legal battle over one of its most popular drugs is resolved. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $869 million was up 5.6% versus last year and ahead of the $863 billion consensus estimate. That makes Xifaxan responsible for 38% of Bausch Health sales, excluding B+L. Breaking that down, $4.7 billion to $4.85 billion are attributable to Bausch Health (implying 2% to 5% organic growth), with $4.6 billion to $4.7 billion attributable to Bausch + Lomb.
Persons: we've, Bausch, Salix, companywide EBITDA, Jim Cramer's, Jim Cramer, Jim, Rafael Henrique Organizations: Health Companies, Pharmaceuticals, Norwich Pharmaceuticals, U.S ., Appeals, Federal Circuit, Bausch Health, Management, CNBC Locations: BLCO, Bausch
Jim Cramer wondered. Nvidia is one of two "own it, don't trade it" stocks in Jim's Charitable Trust, the portfolio used for the CNBC Investing Club. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jim, Trian's Nelson, Eli Lilly, BHC, Jim Cramer's Organizations: CNBC, Nvidia, Trust, Club, Apple Sports, Apple, Communication Services, Netflix, Disney, Fox, Warner Bros Discovery, Nordisk, Bros, Bausch Health, Jim Cramer's Charitable Locations: We're, Bausch
Sectors leading: Consumer staples were outperforming, led by Dow stock Walmart 's 3.5% gain. Jim Cramer said, "Walmart has tried to keep prices down, but Costco is lowering across the board. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jim, Jensen Huang, Eaton, Bausch, Jim Cramer's Organizations: CNBC, Dow, Walmart, Costco, Semiconductor, Computer, Nvidia, Caterpillar, Palo Alto Networks, Realty, Bausch Health Companies, Jim Cramer's Charitable Locations: We're, homebuilding, BLCO
A hotter-than-expected consumer price index on Tuesday sent stocks reeling, with the Dow posting its biggest drop in a year. Stocks bounced back over the next two days, helped by a softer retail sales report , only to slump again on Friday's hot producer price index for January. As we said this week, we're not overly concerned with the hotter-than-expected inflationary readings. Earnings season picks back up for the Club next week, with four holdings set to report quarterly results. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Wall, Stocks, we're, Palo, Fortinet, BCH's Bausch, Management doesn't, Dana, Bausch, Dr Pepper, Diana Shipping, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Walid Berrazeg Organizations: Dow Jones Industrial, Nasdaq, Dow, Federal Reserve, Club, Palo Alto, Palo, billings, Nvidia, Amazon, Microsoft, Bausch Health, Coterra Energy, Management, NYSE, Walmart, Axsome Therapeutics, Barclays Bank, Armstrong World Industries, Ceragon Networks, Tri Pointe Homes, Dana Incorporated, DigitalBridge, Oil States International, Systems, Allegion, CenterPoint Energy, Equitrans Midstream Corporation, Expeditors International of Washington, Alto Networks, SolarEdge Technologies, Enovix Corporation, Caesars Entertainment, Diamondback Energy, Toll, Ternium S.A, Celanese Corp, Chesapeake Energy, CVR Energy, Reserve, Vertiv Holdings Co, Properties Trust, Devices, HSBC Holdings plc, HSBC, Lomb, Sinclair Corporation, Pagaya Technologies, Gibraltar Industries, Garmin, NVIDIA, Rivian Automotive, Sunnova Energy International, Bros, Apache, Oil, Suncor Energy, Co, FNF, Sciences, Coeur D'Alene Mines, Trip.com, Joby Aviation, Resources, Alamos, Jackson, Nutrien, NTR, Pan, Sm Energy Company, Health, Newmont, Nikola Corporation, Cheniere Energy, Fiverr, Natural Resources, Point Credit, Lantheus Holdings, Builders, Grab Holdings, NICE, Dominion Energy, Harmony Biosciences Holdings, Teck Resources Limited, Intellia Therapeutics, Energy, Booking Holdings, Intuit, Semiconductor, Nation Entertainment, Vale S.A, Rocket Companies, Warner Bros ., AerCap Holdings, Natural Holdings, Calumet Specialty Products Partners, Frontier Communications, Jim Cramer's Charitable, CNBC, Lightrocket, Getty Locations: billings, Palo Alto, China, Xifaxan, Tri Pointe, Avista, Gibraltar, Coeur D'Alene, Pan American, Teck, Vale
The $7 billion healthcare startup Ro, which has been prescribing brand-name weight-loss shots since January 2023, now offers compounded semaglutide to patients enrolled in its weight-management program. Nonetheless, Ro is the first prominent healthcare company to effectively endorse compounded semaglutide by prescribing it. A poor-quality compounded drug might simply be a dud and a waste of money. But while compounding pharmacies are subject to FDA and state regulations, states are the main regulators, and their oversight is patchy. Michael Siluk/UCG/Universal Images Group via Getty ImagesIt's hard to know if any given vial of compounded semaglutide is safe.
Persons: Wegovy's, Ro, drugmakers, Eli Lilly's, Eli Lilly's Mounjaro, Scott Gottlieb, Michael Siluk, That's, they've, Ozempic, Eli Lilly, Eric Kastango, they're, Kastango, aren't, Al Carter, Sarah Jones Simmer, Spencer Nadolsky, WeightWatchers, Tim Church, Wondr, it's, hasn't Organizations: Business, Novo Nordisk's Wegovy, US Food and Drug Administration, FDA, Novo Nordisk's Ozempic, Getty, Novo Nordisk, USP, National Association of, Pharmacy, Health Locations: Novo, Massachusetts, Austria, New York City
Read previewA billionaire CEO said he uses "pattern recognition" to help him make smart business decisions. Michael Rubin, the founder and CEO of sports merchandise company Fanatics, told Jay Shetty's podcast about the role that pattern recognition plays in business success. Or you can find out that person was a little bit understated, but they're a beast, they've got huge followership, they're super smart, they've got an unrelenting work ethic." Rubin added: "So to me pattern recognition is everything — I use it in everything that I do." Alice Schroeder, Buffett's biographer, said in a 2010 interview: "Pattern recognition is one of his primary skills and perhaps his greatest skill."
Persons: , Michael Rubin, Jay Shetty's, Rubin, Shetty, " Rubin, they've, Warren Buffett, Alice Schroeder, Buffett's, Buffett, he'd Organizations: Service, Business, CNBC, Forbes, Berkshire Hathaway's, Valeant Pharmaceuticals, Health Locations: Berkshire
Investors rely on "exits" such as initial public offerings when assigning valuations to similar companies, Farr said. So the lack of attractive data on this front is helping to hold back the women's health category as a whole, she said. "Depressed valuations are keeping the IPO window latched," the authors of the SVB report wrote. Maven ClinicWomen's health, long neglected by VCs, is gaining tractionHistorically, investment in women's health has lagged behind other parts of healthcare. More than 76% of women's health startups have at least one female cofounder, the SVB report said.
Persons: Chrissy Farr, Farr, Maven, Kate Ryder, SVB, Gina Bartasi Organizations: OMERS Ventures, Silicon Valley Bank, Business, Maven
Jim Cramer compares consumer health companies Haleon and Kenvue'Mad Money' host Jim Cramer takes a look at two consumer health companies, Haleon and Kenvue, to judge which stock is better for your portfolio.
Persons: Jim Cramer, Kenvue
Prescriptions for ketamine have soared in recent years, driven by for-profit clinics and telehealth services offering the medication as a treatment for pain, depression, anxiety and other conditions. With its recent adoption for pain, patients are increasingly encountering those same effects. Ketamine targets a brain chemical messenger called glutamate, which is thought to play a role in both pain and depression. “We want patients to disassociate or feel separate from their pain, depression or anxiety,” said Dr. David Mahjoubi, owner of Ketamine Healing Clinic in Los Angeles. But the experts found “weak or no evidence” for ketamine in many more conditions, including back pain, migraines, fibromyalgia and cancer pain.
Persons: , , Padma Gulur, Gulur, Daniel Bass, Bass, ” Bass, David Mahjoubi, they’re, Eric Schwenk, Thomas, “ There’s, Johnson, Samuel Wilkinson, Caleb Alexander, Matthew Perrone Organizations: WASHINGTON, Duke University, Duke, Food and Drug Administration, FDA, Thomas Jefferson University, Epic Research, Johnson, Drug Enforcement, Yale University, Johns Hopkins University, Twitter, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: As, U.S, Southgate , Kentucky, Los Angeles, anesthesiology, Massachusetts
REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsCompanies Haleon Plc FollowGSK plc FollowNov 2 (Reuters) - Haleon (HLN.L) missed market estimates for third-quarter revenue on Thursday, as the world's largest consumer healthcare firm grappled with weak demand for its painkillers, digestive health and vitamin supplements in North America. For the three months ended Sept. 30, Haleon reported a 5% organic increase in revenue to 2.79 billion pounds ($3.40 billion), but it came slightly below analysts' expectations of 2.83 billion pounds, according to a company-compiled consensus. The company said overall volumes for the quarter declined by 1.6%, while North America revenues fell 7.5% on a reported basis. Haleon, which was carved out of British drugmaker GSK (GSK.L) last year, has been raising prices to offset high costs. ($1 = 0.8215 pounds)Reporting by Eva Mathews in Bengaluru; Editing by Rashmi Aich and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Haleon, Eva Mathews, Rashmi Aich, Gerry Doyle Organizations: New York Stock Exchange, REUTERS, GSK, Consumer, Thomson Locations: New York City, U.S, North America, British, Bengaluru
But they aren't enough to overcome the headwind of the company's ongoing patent legislation. Good numbers, but they take a back seat to the legal battle over Bausch drug Xifaxan. Management didn't provide any update on timing for when the remaining 88% of BLCO that Bausch Health owns will be sold off. Management now expects companywide EBITDA in a range of $3.01 to $3.11 billion, versus an earlier range of $3.0 to $3.15 billion. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Bausch, Xifaxan, BCH's Bausch, companywide, Jim Cramer's, Jim Cramer, Jim, Timothy Fadek Organizations: Health, Revenue, Pharmaceuticals, Norwich Pharmaceuticals, D.C, Norwich, FDA, XIFAXAN, Management didn't, Bausch Health, Management, CNBC, International Pharmaceutical, Bloomberg, Getty Images Bloomberg, Getty Locations: New York, U.S, Interphex
But in the end, it's fundamentals that drive earnings and earnings that drive stock prices. Looking ahead to next week, we'll get several important macroeconomic updates along with nine Club earnings reports. Economic releases Next week is Jobs Friday when we get the government's monthly nonfarm payrolls report. Club stock earnings Club name Caterpillar (CAT) reports third-quarter results before the opening bell Tuesday. DuPont (DD) is set to report earnings.
Persons: it's, we'll, nonfarm payrolls, We'll, Estee Lauder, Eli Lilly, BUD, Jerome Powell, Kraft Heinz, WEN, Papa John's, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Caterpillar, GE Healthcare, DuPont, Bausch Health, Starbucks, Apple Watch, VF Corp, GE HealthCare, Pfizer, JetBlue, Anheuser, Busch InBev, Devices, Caesars Entertainment, Cruise, CVS Health, Brinker International, Yum Brands, PayPal, Qualcomm, Mondelez, Novo Nordisk, Barrick, Penn Entertainment, Paramount Global, Marriott, Ferrari, Molson Coors, TAP, Coinbase, Natural Resources, Booking Holdings, International, Monster Beverage, Health, Resources, Dwight, Restaurant Brands, Sempra Energy, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: North America, China, New York City, U.S
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Persons: Dow Jones
Novartis said in August that it plans to spin off its generics unit Sandoz to sharpen its focus on its patented prescription medicines. Novartis on Wednesday completed the spinoff of its generics and biosimilars business Sandoz, whose shares began trading at 24 Swiss francs in the early minutes of the company's debut on the SIX Swiss Exchange. The Swiss drugmaker initially announced intentions to spin off the business in August, offering stakeholders one Sandoz share for every five Novartis shares via a dividend-in-kind distribution. Pure play companies refer to entities that target a single product or industry sector. Novartis shares climbed more than 3% in early trade in Zurich to lead the pan-European Stoxx 600 index .
Persons: Sandoz, Narasimhan, we've, CNBC's Julianna Tatelbaum Organizations: Novartis, Wednesday, SIX Swiss Exchange, CNBC Locations: Swiss, Zurich
Klaviyo — Klaviyo shares jumped more than 9% after the marketing automation company surged to $36.75 after its New York Stock Exchange initial public offering. Stellantis — Shares rose about 1.7% after sales in Europe of brands such as Peugeot and Opel surged more than 6% in August. On Holding — The shoe stock rose finished lower ever after Needham initiated coverage with a buy rating. Lululemon — The athleisure clothing company rose nearly 2% after Needham initiated coverage with a buy rating, saying it expects double-digit top-line growth as accelerating technical innovation drives demand. Davidson initiated coverage on the stock at a buy.
Persons: Instacart, Steelcase, Jefferies, Davidson, Mills, Coty, Morgan Stanley, Chewy, Oppenheimer, Needham, Goldman Sachs, Azul, it's, , Alex Harring, Hakyung Kim, Jesse Pound, Michelle Fox, Sarah Min, Yun Li, Lisa Kailai Han Organizations: Nasdaq, New York Stock Exchange, Bausch Health, , Health, Peugeot, Opel, Chrysler, United Auto Workers, Citi, D.A, LSEG, Coty, Technologies, Textron — Textron, Berkshire Hathaway, Cessna Citation, Azul, JPMorgan, First, Bank Locations: Europe, U.S
Investors should buy Bausch Health Companies as shares can more than double from here, Jefferies said. Bausch Health is embroiled in a legal battle over Xifaxan, its drug for irritable bowel syndrome with diarrhea, to prevent generics from entering the market. Bausch Health has been hoping to spin off its valuable vision care unit, Bausch + Lomb, for several years. Bausch Health shares are higher this year by more than 22%. The analyst cited other reasons why Bausch Health shares will get a boost.
Persons: Jefferies, Glen, mgt, Santangelo, Bausch, — CNBC's Michael Bloom Organizations: Health Companies, Health, Bausch Health, FDA Locations: Xifaxan, Norwich, Bausch, New Jersey
At Leerink Partners, Sasha Kelemen runs an investment-banking team unlike any other on Wall Street. For her work, Insider named Kelemen to our list of 30 leaders under 40 transforming healthcare. After graduating from business school at the University of Virginia in 2017, she joined the healthcare team at Goldman Sachs. Sasha Kelemen. Sasha Kelemen with her daughters Olivia and Zoe.
Persons: Sasha Kelemen, Goldman Sachs, Kelemen, Goldman, she'd, scrappy, Chris, who'd, Barry Blake, Blake, Wall, she's, Sasha Kelemen's, who's, they're, Leerink, it's, haven't, Olivia, Zoe, Jill Angelo, wasn't Organizations: Leerink Partners, Morning, University of Virginia, Boston College, Goldman, Wall, Investment, OB Locations: Venezuela, Florida, Connecticut, SVB, New York City, women's
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