Market Overview - The market's personality has shifted, becoming more complicated and idiosyncratic, with a focus on reasonable valuations rather than just thematic trends like AI [2][8] - Recent market action indicates a potential challenge to previous all-time highs, with broad-based participation across sectors [3][5] Sector Performance - Healthcare has emerged as a leading sector, performing well since August and being the best-performing sector this quarter, with an increase of over 10% this month [9][12] - Other strong sectors include materials and consumer discretionary, while technology has seen a decline in leadership [7][10] Investor Sentiment - Investors are currently seeking more attractive valuations and opportunities for beta, indicating a shift in focus from high-growth tech stocks to sectors with reasonable valuations [8][12] - The recent outflows from tech stocks have reached four-year extremes, suggesting a cautious approach among investors [10] Future Outlook - The market is setting up for a strong January, which is typically a favorable month for equities, while also looking ahead to 2026 [6] - Despite concerns about tech leverage, the overall sentiment remains positive, with expectations that tech will continue to lead in the coming year [19][26]

After some difficult years of low returns, and especially the last three ones that saw a lot of volatility, the US healthcare industry is seeing new tailwinds through innovations (think GLP-1 agonists and gene therapies), making the sectorI am a dynamic finance professional with a Master’s in Banking & Finance from Université Paris 1 Panthéon-Sorbonne. My investing background mix corporate finance, M&A, and investment analysis, with a focus on real estate, renewable energy, and equity markets. I specialize ...

Now for more on that healthc care space, let's bring in Evan Seager, the head of healthcare research over at Beimo Capital Markets. Evan, thank you very much for being here with us. Take us through the dynamic.I mean, GLP1s have been the focus for such a long time now. Is there anything that gets this competitive dynamic between Lily and Novo to close the gap a bit in the coming months and quarters. >> Well, first off, thank you for having me.And I think just today there's a lot of anticipation into this Al ...

Industry Overview - The healthcare landscape is evolving due to technological advances, policy shifts, and rising patient expectations, marking a pivotal moment for innovation and transformation in the industry [1] - Key trends include precision medicine, AI integration, and enhanced cybersecurity, emphasizing personalized care, operational efficiency, and system-wide resilience [1] Company Performance Tempus AI (TEM) - Tempus reported its first positive adjusted EBITDA of $1.5 million in Q3 2025, driven by strong top-line performance and disciplined operational execution [4][9] - The Genomics business saw a 33% year-over-year volume increase, with Oncology testing growing by 27% and Hereditary testing by 37% [5] - Data Licensing (Insights) business grew by 38% during the quarter, securing $150 million in new total contract value [6] - Cost discipline and efficiency efforts contributed to margin expansion, with adjusted EBITDA potentially reaching $4 million without acquisition-related expenses [7] Butterfly Network (BFLY) - Butterfly Network achieved year-over-year revenue growth while reducing cash burn, with U.S. revenues slightly increasing to $16.1 million [10] - International revenues rose by 4% year-over-year to $5.4 million, driven by higher pricing following the iQ3 launch [11] - The company reported a normalized cash burn of $3.9 million, reflecting improved operational efficiency while still investing in long-term growth areas [12] - Despite a negative adjusted EBITDA loss of $8.1 million and a gross margin of -17.5%, operational improvements were noted [13] Valuation Metrics - Tempus is trading at a forward price-to-sales (P/S) ratio of 8.18, while Butterfly Network's forward sales multiple is 6.45, indicating a discount to Tempus [14] - For 2025, the projected loss per share for Tempus is 65 cents, an improvement from the previous year's loss of $1.58 [15] - Butterfly Network's projected loss per share is 15 cents, compared to a prior-year loss of 34 cents, with stable estimates over the past 30 days [16] Investment Outlook - Tempus is viewed as the stronger investment choice due to its positive adjusted EBITDA and balanced growth across business segments [18] - Butterfly Network, while still not profitable, shows resilience and operational efficiency, making it a potential value play for investors willing to accept higher risk [19]

RT Colby Serpa (@colbyserpa)When a corporation serves a vital function that becomes relied on by a majority of citizens, the riskier its growing centralization becomes.Without competition, the centralized corporation begins to resemble a monopolistic communist government that unilaterally controls a vital good or service a majority of citizens rely on. From banks and education to healthcare and now AI.Education and healthcare are a mess and the AIs everyone relies on are controlled by a few corporations, gi ...

Shares of Exact Sciences Corp. jumped after Abbott Laboratories announced a deal to acquire the cancer screening test maker for about $21 billion. https://t.co/jOEXGzYsjf ...

Core Insights - The "14th Five-Year Plan" emphasizes boosting consumption by focusing on easing access and integrating service consumption, aligning with the objective laws of China's economic development [1] - Service consumption is increasingly becoming a key driver for consumption expansion and economic structure optimization, transitioning the consumption market from goods to services [1] - The growth of service consumption presents significant market opportunities for the financial sector while also raising demands for financial support to the real economy [1] Supply-Side Challenges - Service-oriented enterprises typically operate with light assets, lacking sufficient collateral to meet traditional bank credit standards, leading to difficulties in financing [2] - Traditional credit products primarily cater to large physical goods, with risk control logic and term structures not aligning with the characteristics of service consumption [2] - Existing payment systems do not fully accommodate the nature of service consumption, resulting in complex payment processes and unregulated prepayment fund management [2] Financial Support Strategies - To effectively support the expansion of service consumption, a combination of structural monetary policies and differentiated regulatory tools is necessary to encourage financial institutions to increase credit in service sectors [2] - The People's Bank of China has established a 500 billion yuan quota for service consumption and elderly care re-loan tools to guide commercial banks in enhancing credit allocation to key service areas [2] Innovation in Financial Products - Financial institutions should innovate consumer finance products and service models, developing small, flexible, and scenario-based credit products tailored to specific sectors like education and tourism [3] - There is a need to explore effective financial support models for new consumption types, including digital, green, and health consumption, to empower the development of experience, smart, and customized consumption [3] Payment Environment Optimization - It is essential to optimize the consumption payment environment to reduce transaction costs and enhance efficiency, particularly in high-frequency service scenarios [3] - Promoting the use of digital currency in sectors with high prepayment risks can help manage prepayment funds through smart contract management, mitigating risks of fund misappropriation [3] Policy and Regulatory Support - Implementing differentiated regulatory policies can encourage banks to increase credit in service consumption by providing favorable conditions regarding risk asset weight calculations and non-performing loan tolerances [4] - Establishing a unified credit information platform for service consumption can alleviate financing barriers for service enterprises and ensure convenient financing for those with good credit [4]

RT Healthcare AI Guy (@HealthcareAIGuy)NEW: Company Deep Dive — Legion HealthWe sat down with Co-Founder Arthur MacWaters to see how Legion is building an AI native, full stack telepsychiatry clinic.Inside: how full stack + AI changes care, their Tesla style path to the AI doctor, growth metrics, & more.Link 👇 https://t.co/CSywSVw5Fa ...

Abbott Laboratories has teed up the largest high-grade bridge loan this year — a $20 billion facility from Morgan Stanley — to fund its acquisition of Exact Sciences https://t.co/KeEcIJUNAD ...

RT Nick Szabo (@NickSzabo4)AI and robotics can make cheap widgets even cheaper. That will not make society wealthy.In the developed world our biggest and most important expenses do not primarily involve widgets; they primarily involve law (often indirectly), real estate, health care, and education.It is only if AI can, and is allowed to, "practice" law, health care, and education that we will reap anything like the promised benefits of AI making society "wealthy." ...