Now, Hims and Hers is set to report earnings after the close today. So, to help us preview the results, I'd now like to welcome in our next guest, Raul Shaw, CEO of Doc Shaw Financial. And so, Raul will thank you so much for kicking off this week with us, what are your overall expectations for him and hers given the fact that this name has has taken it on the chin a bit this year.I mean, we're down 54% since the start of 2026. >> We are down quite a bit. And before I get into everything, you know, Jenny, it ...

Core Viewpoint - UnitedHealth Group (UNH) is facing increased scrutiny from federal agencies and lawmakers regarding its nursing home practices and Medicare Advantage oversight, particularly after reports of delayed or denied hospital transfers leading to senior deaths [1][2]. Financial Performance - UnitedHealth has a market value of approximately $311.6 billion and offers a forward annual dividend of $8.84 per share, yielding 2.53% [3]. - The company's stock closed at about $343.98, reflecting a year-to-date increase of 4.2% but a significant decline of 34.42% over the past 52 weeks [4]. - In the third quarter of 2025, UnitedHealth reported consolidated revenue of $113.2 billion, marking a 12% year-over-year increase, with adjusted EPS of $2.92, exceeding estimates by 6.18% [5]. - The UnitedHealthcare unit generated $87.1 billion in revenue, up 16% year-over-year, serving 50.1 million consumers, an increase of 795,000 [6]. Regulatory Environment - Federal agencies are intensifying audits of Medicare Advantage contracts and billing, indicating a stricter approach towards private insurers and their managed care practices [2]. - The ongoing investigation by Senators Elizabeth Warren and Ron Wyden into UnitedHealth's nursing home practices highlights the potential regulatory risks that could impact the company's long-term stock performance [1][3].

Joining us now is Jonathan Caner, former assistant attorney general for the antitrust division at the DOJ, also a CNBC contributor. We're lucky to have you close with us on this story. So, is Ted right that to feel confident that this is going to get all the approvals from the regulators.>> Well, Sarah, I think we've seen this movie before and it's called Spirit JetBlue. uh Spirit had the opportunity uh to do a deal with a less risky buyer and instead it took the premium and sold to a more risky buyer in Je ...

Core Insights - Recent drilling activities indicate a slight recovery in Australia's hydrocarbon exploration, but the overall progress remains minimal compared to past decades [1][3] - The structural imbalance in Australia's gas market is deepening, with production concentrated in the west while demand rises in the east, leading to increased reliance on LNG exports [2][3][12] Exploration and Production - Chevron's Deep 1 and Dino South 1 wells were the first offshore exploration wells drilled since 2023, with ConocoPhillips' recent success in the Otway Basin marking the first gas discovery in the region in four years [1] - National gas output more than doubled from 2015 to 2021 but has plateaued around 13 million cubic meters per month since then, indicating a stagnation point without new exploration [4][5] Market Dynamics - Eastern Australia's gas system is under pressure as local supply fails to meet rising demand, leading to price spikes and a market that behaves like a globally traded commodity [6] - The introduction of a price cap of A$12/GJ aims to protect consumers but may suppress necessary investment signals [6] Regulatory and Environmental Challenges - State-level environmental opposition has stalled new projects, with significant delays in developments like the Narrabri CSG project [7] - The unstable regulatory environment is deterring investment, as seen with the abandonment of a US$19 billion acquisition by Abu Dhabi National Oil Company [9] Future Outlook - Australia may soon need to import LNG to stabilize its market, with several regasification projects underway, but this could lead to higher domestic prices [10] - Expanding domestic supply through projects like the Otway Basin exploration is seen as a strategic solution, yet slow approvals and heavy regulatory burdens threaten this approach [11][12]

Core Viewpoint - Morgan Stanley's involvement in underwriting Zijin Gold International's Hong Kong IPO exposes the firm and its U.S. investors to potential regulatory, financial, and reputational risks [1] Group 1: Regulatory Risks - The U.S. House of Representatives committee has raised concerns regarding the regulatory implications of Morgan Stanley's underwriting activities [1] - There is a potential for increased scrutiny from regulatory bodies due to the nature of the IPO and the involvement of a Chinese company [1] Group 2: Financial Risks - The underwriting of the IPO may lead to financial repercussions for Morgan Stanley and its investors if regulatory actions are taken [1] - Potential financial harm could arise from penalties or sanctions related to compliance failures [1] Group 3: Reputational Risks - The association with Zijin Gold International could damage Morgan Stanley's reputation among U.S. investors and regulators [1] - Negative public perception may result from the perceived risks associated with investing in companies linked to controversial practices or regulatory environments [1]

Core Viewpoint - Alphabet's stock presents a compelling investment opportunity due to a favorable court ruling, strong fundamentals, and a significant valuation gap compared to peers, suggesting potential for 50% upside in share price [1][8][16]. Group 1: Court Ruling and Market Reaction - A federal judge's ruling in September 2025 protected Google's Chrome from forced divestiture, leading to a 7% increase in shares during after-hours trading [3][2]. - The ruling alleviated regulatory concerns, enhancing investor confidence and revitalizing the investment case for Alphabet [2][17]. Group 2: Valuation and Comparison - Alphabet's price-to-earnings (P/E) ratio is 22, significantly lower than Amazon's 35 and Microsoft's 37, indicating a valuation gap that analysts find puzzling given Google's strong fundamentals [6][7]. - If Alphabet's valuation were to align with peers at a P/E of 35, the stock could exceed $320, representing approximately 50% upside from current levels [8]. Group 3: Growth Drivers - Google's cloud division is a key growth engine, with Q2 2025 revenue increasing by 31.7% year-on-year to $13.62 billion [11]. - Strategic partnerships, such as with NVIDIA, and a robust global infrastructure position Google Cloud as the third-largest provider in market share [12]. Group 4: Long-Term Outlook - Analysts maintain a bullish long-term outlook for Google, citing diversified revenue streams across digital advertising, cloud services, and AI as factors for resilience [13]. - Alphabet's consistent earnings and strategic acquisitions, including YouTube and Nest Labs, contribute to ongoing innovation and shareholder value [13]. Group 5: Regulatory Environment - While regulatory risks persist, analysts believe that the worst-case scenarios are already reflected in the current share price, making the risk manageable [14]. - The recent court ruling indicates a judicial understanding of the complexities involved in regulating integrated tech platforms, which may benefit Google in the future [15].

Core Viewpoint - Airbnb has emerged as a significant player in the post-pandemic travel sector, attracting investor interest due to its global brand, strong free cash flow, and aspirations to evolve into an "everything app" [1] Regulatory Risks - Regulatory pressure is identified as the most critical long-term risk for Airbnb, with governments worldwide tightening regulations on short-term rentals due to housing shortages and affordability issues [4] - In Spain, courts mandated the removal of over 65,000 listings, while in France, Airbnb was ordered to pay over 8 million euros in tourist tax compensation, setting a precedent for similar claims [5] - In the U.S., cities like New Orleans have enacted stricter laws requiring verification of listings, leading to legal challenges for Airbnb [5] - These regulatory actions could limit growth in major tourist markets and increase compliance costs, impacting profitability [6] Margin Pressure - Airbnb is diversifying into new services with a $200 million investment and a redesigned app, aiming to become a comprehensive travel companion [7] - However, these new services are operationally intensive and typically have lower margins compared to the core rental business, posing a risk of margin dilution [8] - The success of these new initiatives is crucial for maintaining user retention and average revenue per user; otherwise, they may become a costly side business [10] Valuation Concerns - Airbnb's stock is currently trading at a price-to-earnings (P/E) ratio of 30, reflecting high growth expectations [11] - While the global travel industry presents significant opportunities, potential challenges such as regulatory issues and competition could pressure this premium valuation [12] - If growth slows while costs increase, the elevated valuation may come under scrutiny, reminiscent of past tech stock downturns [13] Summary for Investors - Airbnb possesses strong fundamentals, including profitability and brand strength, with growth opportunities in long-term stays and international expansion [14] - However, investors should remain vigilant regarding regulatory risks, margin pressures from new services, and the elevated valuation, as these factors collectively indicate that Airbnb is not a "set it and forget it" investment [14][15] - The balance between growth ambitions, regulatory compliance, and profitability will be critical for Airbnb to sustain its premium valuation [15]

Core Insights - Avista Corp. reported a net income of $14 million for Q2 2025, a decrease from $23 million in Q2 2024, and year-to-date net income of $93 million, slightly down from $94 million in the same period last year [1][2][3] - Earnings per diluted share for Q2 2025 were $0.17, down from $0.29 in Q2 2024, while year-to-date earnings per diluted share were $1.15, compared to $1.20 in 2024 [1][2][3] - The company expressed disappointment over lower valuations in its investment portfolio, particularly in clean technology, due to shifting public policy and sentiment [1] Financial Performance - Avista Utilities contributed $23 million to net income in Q2 2025, down from $24 million in Q2 2024, and $101 million year-to-date, up from $91 million [1][2] - AEL&P's net income remained stable at $1 million for both Q2 2025 and Q2 2024, but year-to-date income decreased from $5 million in 2024 to $4 million in 2025 [1][2] - The other non-reportable segment incurred a loss of $10 million in Q2 2025, compared to a loss of $2 million in Q2 2024, and a loss of $12 million year-to-date, up from $2 million in 2024 [1][2] Revenue and Margins - Electric utility margin increased by $14 million in Q2 2025, attributed to general rate cases, customer growth, and non-decoupled load growth [4] - Natural gas utility margin rose by $5 million in Q2 2025, also due to general rate cases and customer growth [4] - Other operating expenses increased by $11 million in Q2 2025, driven by higher employee salaries, benefits, and thermal generation costs [5] Capital Expenditures and Investments - Avista Utilities' capital expenditures for the first half of 2025 were $236 million, with expectations of approximately $525 million for the full year [11][12] - AEL&P's capital expenditures were $10 million in the first half of 2025, with a projected total of $21 million for the year [12] - The company plans to invest $5 million in non-regulated investment opportunities and economic development projects in 2025 [13] Guidance and Outlook - Avista Corp. confirmed its 2025 consolidated earnings guidance in the range of $2.52 to $2.72 per diluted share, expecting to be at the low end due to losses in other businesses [14] - Avista Utilities is projected to contribute earnings between $2.43 and $2.61 per diluted share, supported by strong performance and regulatory outcomes [15] - AEL&P is expected to contribute earnings in the range of $0.09 to $0.11 per diluted share in 2025 [16]

Core Insights - UnitedHealth Group Incorporated (UNH) is expected to report its second-quarter 2025 results on July 29, 2025, with significant implications for the healthcare sector amid rising medical costs and regulatory scrutiny [1] - The company has faced challenges including the withdrawal of its 2025 earnings outlook, a surprise CEO transition, and federal investigations, leading to a decline in investor confidence [2] Financial Performance - UNH's second-quarter earnings are projected to decline by 28.8% year-over-year, despite a 12.8% expected revenue growth [6][16] - The Zacks Consensus Estimate for second-quarter earnings is $4.84 per share, down from $6.80 a year ago [16] - The company trades at a forward P/E of 11.98X, slightly above the industry average of 11.58X, but significantly below its five-year median of 19.20X [4] Segment Analysis - The UnitedHealthcare segment, UNH's largest by revenue, reported a 12.3% year-over-year revenue increase to $84.6 billion, with operating income rising 18.9% to $5.2 billion [10] - Revenue from the Employer & Individual Domestic, Medicare & Retirement, and Community & State businesses increased by 6.9%, 17.5%, and 12.5% year-over-year, respectively [10] - The consensus estimate for UnitedHealthcare's revenues indicates a 14.7% year-over-year increase, while operating income is expected to decline by over 30% [11] Market Context - UNH shares have dropped 45% year-to-date, mirroring declines in peers like Molina Healthcare and Humana, while the broader managed care industry has fallen 34.3% [2] - The medical care ratio for the second quarter is expected to rise to 88.6%, up from 85.1% a year ago, indicating increased medical costs [12] Regulatory Environment - The Department of Justice is investigating aspects of UNH's Medicare business, which has heightened concerns over regulatory risks [2][6] - The company has proactively engaged with the DOJ in response to media reports and is complying with requests [2]

Group 1 - Sarepta Therapeutics' stock has dropped over 35% to below $13 after rejecting the FDA's request to halt shipments of Elevidys, following a third death linked to the gene therapy [2][3] - Elevidys accounts for 43% of Sarepta's total revenues and has traditional approval since June 2024 for ambulatory patients, making any regulatory challenges a significant threat to the company's existence [3] - FDA Commissioner Marty Makary's comments indicate a potential forced withdrawal of Elevidys if voluntary compliance is not achieved, raising concerns about the adequacy of recent $400 million restructuring cost savings against potential revenue losses [4] Group 2 - Sarepta's confrontational stance towards federal regulators is creating unprecedented uncertainty in the biotech sector, highlighting poor risk management at a critical regulatory juncture [5] - The situation emphasizes the inherent risks of investing in single stocks, suggesting that professionally managed portfolios may offer a more stable investment approach [5][6] - Regulatory risk is part of a broader risk assessment framework, with the Trefis High Quality Portfolio demonstrating better returns with less risk compared to the S&P 500 over the past four years [6]