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HIMS

Hims & Hers Health Inc (NYSE:HIMS) reported strong Q1 earnings, surpassing expectations with a 46% year-on-year revenue growth to $278.2 million and an adjusted EBITDA beat. Analysts from Piper Sandler and Truist Securities have responded positively, adjusting their price targets and ratings to reflect the company's performance and future guidance. The company's success was attributed to subscriber growth, personalized solutions, and operational efficiencies.

Portfolio Pulse from Priya Nigam

May 07, 2024 | 4:57 pm

BLDR

Builders FirstSource, Inc. (NYSE:BLDR) shares fell over 17% following its Q1 earnings report. Despite beating analyst expectations with adjusted EPS of $2.65 and quarterly sales of $3.891 billion, the company saw a decrease in gross profit by 5.2% and a 14.4% decline in adjusted EBITDA. The drop in gross profit margin and adjusted EBITDA margin was attributed to a shift in product mix towards lower-margin products and margin normalization. Operating cash flow also decreased significantly. The company reiterated its 2024 net sales outlook.

Portfolio Pulse from Nabaparna Bhattacharya

May 07, 2024 | 4:52 pm

KVUE

Kenvue Inc (NYSE:KVUE), a consumer health company, reported Q1 sales of $3.89 billion, surpassing expectations of $3.79 billion. Sales grew by 1.1%, with organic growth at 1.9%. The company saw increases in Self Care and Essential Health segments but faced a decline in Skin Health and Beauty. Adjusted EPS was $0.28, beating the consensus of $0.26. Kenvue plans to cut its workforce by 4% aiming for $350 million in cost savings by 2026, expecting to incur $275 million in restructuring costs over the next two years. The company anticipates 1.0%-3.0% net sales growth and an adjusted EPS of $1.10-$1.20 for FY 2024. KVUE shares rose 4.95% to $20.03.

Portfolio Pulse from Vandana Singh

May 07, 2024 | 4:52 pm

AAL

Financial analysts observed unusual options activity on American Airlines Gr (NASDAQ:AAL), with a bearish sentiment prevailing among traders. Analysis revealed 9 unusual trades, with 55% showing bearish tendencies and 33% bullish. The trades included 6 puts valued at $1,393,176 and 3 calls valued at $147,410, targeting a price range of $12.0 to $25.0 for AAL. The largest trades were mostly puts, with sentiments ranging from bearish to neutral and bullish. American Airlines, the world's largest airline, is currently trading at $14.22, down by -2.93%, with an RSI suggesting it may be approaching overbought. An analyst from Bernstein maintains an Outperform rating with a target price of $22.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 4:46 pm

ILMN

Unusual options activity was detected for Illumina (NASDAQ:ILMN), with a predominantly bearish sentiment among big-money traders. A total of 8 options trades were spotted, with 7 puts and 1 call, indicating a bearish outlook. The trades suggest a price target range of $110.0 to $150.0 for Illumina. Current trading volume and price trends, along with analyst ratings, suggest mixed opinions on the stock's future performance.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 4:45 pm

BKIV

IWFH

PTON

Peloton Interactive Inc. (NASDAQ:PTON) shares surged following reports of potential buyout interest from private equity firms. Amid 13 consecutive quarters of losses and a recent disappointing quarterly report, Peloton has been exploring a sale and operational cost reductions. The company announced a CEO transition, a 15% workforce reduction, and a cut in its full-year revenue outlook. Despite a profitable subscription service, high production costs and declining demand for its products have impacted its financials. Peloton's market cap has significantly decreased, making it an attractive acquisition target. Peloton stock is up 12.8%, and exposure to Peloton can also be gained through BNY Mellon Innovators ETF (NASDAQ:BKIV) and iShares Virtual Work And Life Multisector ETF (NYSE:IWFH).

Portfolio Pulse from Anusuya Lahiri

May 07, 2024 | 4:43 pm

CVNA

Nate Anderson of Hindenburg Research highlighted concerns about potential accounting fraud at Carvana (CVNA), citing unprecedented interest and detailed red flags. The report mentions Carvana's financial struggles, including limited cash, high leverage, and the necessity of stock sales for survival, contrasting sharply with management's optimistic claims.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 4:41 pm

CART

UBER

Maplebear Inc. (NYSE:CART) and Uber Technologies, Inc. (NYSE:UBER) have announced a strategic collaboration to integrate Uber Eats restaurant delivery services into the Instacart platform. This partnership aims to expand service offerings for Instacart, allowing customers to order from a wide range of restaurants directly through the Instacart app. The collaboration is expected to drive more business for restaurants, create more earnings opportunities for couriers, and enhance convenience for users by combining grocery and restaurant delivery services into one platform.

Portfolio Pulse from Shivani Kumaresan

May 07, 2024 | 4:40 pm

IXHL

Incannex Healthcare Inc. (NASDAQ:IXHL) announced the successful completion of a pre-investigational new drug meeting with the FDA for CannQuit-O, a treatment for opioid use disorder combining CBD and an opioid antagonist. The FDA provided feedback and recommendations for the clinical development strategy. Incannex has partnered with Eurofins Scientific to manufacture this and another product aimed at treating nicotine disorders. The company's shares rose 9.09% to $2.52 following the announcement.

Portfolio Pulse from Jelena Martinovic

May 07, 2024 | 4:35 pm

CMPO

CompoSecure shares surged following the announcement of better-than-expected Q1 sales results and the reiteration of its FY24 net sales guidance. Additionally, Benchmark reaffirmed a Buy rating on CMPO and increased its price target from $8 to $10.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 4:32 pm