Midday Trading Insights
Spotify — Shares of the music streaming service fell 3.8% following unsatisfactory quarterly results. The company reported an operating income of 509 million euros, missing analysts’ expectations of 519.9 million euros. Spotify’s revenue remained consistent at 4.2 billion euros, and its monthly active users reached 678 million as projected.
General Motors — The automaker’s shares declined by 2% after announcing that it is reevaluating its annual outlook due to concerns over tariffs and economic uncertainty, despite reporting better-than-expected earnings.
Hims & Hers Health — Shares soared by 26% after the announcement that Novo Nordisk will provide its weight loss drug, Wegovy, via Hims’ platform, alongside Ro and LifeMD.
Royal Caribbean — The cruise company’s stock dipped nearly 2% following mixed quarterly performance. Adjusted earnings were $2.71 per share, surpassing expected $2.55, but revenue of $4 billion was just below the $4.01 billion consensus.
Deutsche Bank — Shares surged 3.5% as the bank reported a 39% increase in profits for the quarter, along with a 10% rise in net revenue in its investment banking segment.
Regeneron — The biotech firm experienced an 8.8% drop after missing earnings expectations for the quarter and lowering its full-year profit outlook, reporting $8.22 per share instead of the anticipated $8.62.
SoFi Technologies — The fintech company’s shares rose 1% after exceeding first-quarter net revenue expectations, reporting an adjusted $770.7 million against a projected $739 million. Other notable companies included Waste Management, Pfizer, and Honeywell, each experiencing shifts in share prices based on their quarterly results.
