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Check out the companies making headlines in midday trading: Tech stocks — Key tech names rallied a day after the Federal Reserve's supersized rate cut decision. Coursera — The online education platform jumped more than 8% on the back of Bank of America's initiation at a buy rating. Uber shares rose 3%. NextEra Energy Partners — The stock rose more than 3% on the heels of Jefferies initiating coverage with a buy rating. Crypto stocks — Stocks tied to bitcoin's price climbed as the cryptocurrency moved more than 4% higher following the Fed's rate cut on Wednesday.
Persons: Tesla, Meta, Coursera, Uber, DoorDash, Jefferies, Stocks, MicroStrategy, Alibaba, Alex Harring, Samantha Subin, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Tech, Federal, Nvidia, Therapeutics, Intel, Bank of, Darden, DoorDash, NextEra Energy Partners, JPMorgan Locations: Mobileye, Olive
watch nowWhy gay male couples face higher costsAlon Rivel, left, with his family. Gay male couples typically face a more expensive journey, as surrogacy or adoption are their primary choices. Employer fertility benefits offer limited helpMore employers are starting to offer fertility benefits, often through a specialized fertility benefits manager like Kindbody, Carrot, Progyny or Maven. But while more companies are offering fertility benefits, many of these packages are limited when it comes to covering what's needed to build families with non-traditional methods. At Rivel's insistence, he asked his human resources department to look into including surrogacy benefits.
Persons: Alon Rivel, Alon Rivel Alon Rivel, Rivel, Betsy Campbell, Maven, Will Porteous, Doug, Walter ., Porteous, Progyny's, Pete Anevski, Tammy Sun, Taryn Branca, they'll, Anevski, it's, Resolve's Campbell, Hanna, Stephen Hanna, Bret Shuford, Maverick Organizations: International Foundation of Employee, Equality, Mercer, Maven, Beam Therapeutics, Child Welfare Locations: Arlington , Massachusetts, U.S, Wynnewood , Pennsylvania, West, Massachusetts
Fertility companies are thriving as the rest of the healthcare industry stumbles. Many healthcare companies have seen their growth stunted by the market downturn, but fertility startups are defying the odds. Alessia Pierdomenico/Reuters Big returnsProgyny's success this year is boosting investor sentiment for private fertility companies, F-Prime Capital partner Carl Byers said. And some fertility companies are trying to stand out further by saying they can lower costs for employers. Experts predicted the fertility industry will see further consolidation this year, including more clinic acquisitions by private equity and by some fertility startups.
Persons: Kindbody, Scott Schoenhaus, Sarah James, Cantor Fitzgerald, PitchBook, Progyny, James, Alessia Pierdomenico, Carl Byers, Byers, Asima Ahmad, Carrot, Cantor Fitzgerald's James, Gina Bartasi, Peter Anevski, he's, Anevski, Rebecca Torrence Organizations: Morning, The Business Research Company, Investors, Reuters, Prime, Clinics, Maven, for Disease Control, Fertility
As more Americans try to grow their families through fertility treatments, Progyny will be a big beneficiary, according to BTIG. The Wall Street firm initiated coverage of the stock with a buy rating on Monday, noting that the benefits management company is "delivering the joy of parenthood" with its superior outcomes. Progyny partners with companies to provide fertility and family-building benefits for employees. "With a tight labor market, companies are more consistently seeking to work with Progyny in order to be able to attract and retain high-quality talent," Larsen said. There are smaller fast-growing companies entering the space that serve more niche areas relating to fertility," Larsen wrote.
The multibillion dollar global fertility market is ripe with opportunity. For investors thinking about the fertility market, pharma firms may come to mind. In fact, the number of employers looking at fertility benefits as a "must have" has skyrocketed, she said. The global market size for fertility within the private women's health market should reach $72 billion by 2027, a report by FemTech Focus and Coyote Ventures found. Just like there were a wave of fintech companies going public, she expects fertility companies to eventually follow suit.
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