It's Thursday and you know what that means.
Yep, one day closer to Friday.
But before anyone heads home or kicks off "thirsty Thursday" let's review the top stories from Thursday, Sept. 6.
Facebook's Lookin' Shaky
Or so reports TheStreet's Brian Sozzi. Facebook Inc. (FB) suffered a brutal selloff in July after it released Q2 earnings. Sozzi headlined his piece, "Facebook's Stock Could Collapse an Easy 10% Within Days" so, yeah, the stock might not be in great shape.
The social media giant had its chief operating officer, Sheryl Sandberg, testify in front of the Senate Intelligence Committee on Wednesday, Sept. 6. Sandberg discussed the steps that Facebook was taking to secure user data and how it planned to prevent any more election interference.
Sozzi writes: after a violent selloff, Facebook's stock is at a key technical level. If it doesn't hold at the July lows, lookout below.
Facebook is a holding in Jim Cramer's Action Alerts PLUS member club.
Amazon-Berkshire-JPM Are in Business
TheStreet's Armie Margaret Lee reports that the healthcare initiative formed by Amazon.com Inc. (AMZN - Get Report) , Berkshire Hathaway Inc. (BRK.A - Get Report) and JPMorgan Chase & Co. (JPM - Get Report) made a "bold statement" with its appointment of Comcast Corp. (CMCSA - Get Report) alum Jack Stoddard as chief operating officer, according to Leerink Partners LLC analyst Ana Gupte.
The venture is "reaffirming its commitment to upending the way consumers access healthcare in an increasing digital ecosystem," Gupte wrote in a Wednesday, Sept. 5, note. "We believe the Stoddard hire clearly shows that [the venture] is looking to own the digital front door to healthcare."
Stoddard is a board member at digital health company Carrot Inc. and health technology firm NovaSom Inc. His experience includes serving as an executive adviser at alternative asset manager New Mountain Capital LLC from July 2017 to September 2018, according to his LinkedIn profile.
The news follows the hiring of Atul Gawande, a surgeon, public health researcher and a staff writer for The New Yorker, as CEO of the healthcare initiative effective July 9. Amazon, Berkshire and JPMorgan unveiled their partnership in January, saying they've banded together to address healthcare for their U.S. workers.
Don't Listen to Market Catchphrases
Don't get fazed by historical market catchphrases like "sell in May and go away" or data showing September is typically the worst month of the year for the stock market, he wrote.
"When we look at some of these seasonality patterns—we've got Lehman Brothers included in that [data]," said Brian Levitt, senior investment strategist at OppenheimerFunds and panelist on TheStreet's Trading Strategies roundtable. "What we always want to be focused on is more of the macro picture and less about what these seasonal patterns are."
Levitt reminds investors that $100,000 invested into the market right before the 2008 collapse of Lehman Brothers was worth $50,000 by the end of that year - but is worth $255,000 today.
"I don't think we should be so focused on monthly patterns," he said.
That's it for now, folks. Stick with TheStreet for more updates.
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