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Shares of HIMS are up another 13%, or by $3.10, on news that Novo Nordisk agreed to distribute its products through the Hims platform, ending a longstanding feud between the companies. Novo also said customers will “soon have access” to its Ozempic and Wegovy injectables, as well as its Wegovy pill — all different versions of Novo Nordisk’s semaglutide weight-loss drug — through the Hims platform.
As noted by HIMS, “Hims & Hers has entered into an agreement with Novo Nordisk that will bring Ozempic® (semaglutide) 0.5 mg, 1 mg, and 2 mg injections and Wegovy® (semaglutide) pills and injections to the platform later this month, including 1.7 mg or 2.4 mg injections and 1.5 mg, 4 mg, 9 mg, and 25 mg tablets. In the future, Hims & Hers and Novo Nordisk hope to collaborate to bring other products to market as they become available, further increasing the range of innovative treatments from which providers can choose on the platform.”
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Analysts at Barclays just reiterated an overweight rating on Nvidia, noting the tech giant isn’t pricing in enough capex growth. “NVDA is currently trading as if capex were to peak in 2027, and we think one clear takeaway from this note is that capex will likely be higher in 2028,” as quoted by CNBC.
Analysts at Evercore ISI reiterated an outperform rating on Netflix, noting that, ““We continue to view Netflix as a high-quality asset in global streaming, supported by unmatched global scale, a proven and increasingly localized content production engine, and a differentiated product strategy spanning premium, ad-supported, live, and gaming.”
And analysts at Nomura just upgraded NIO to a buy, noting that the electric vehicle company is improving both from a “business and financial perspective over the past two quarters — we turn positive on the name, as we believe NIO is finally entering into a healthy business cycle.”
Markets are flat with higher oil prices, a defiant Iran, and in-line inflation numbers.
S&P 500 futures are up about 0.1%. The SPDR S&P 500 ETF (SPY) is down 0.2%, or by $1.38. The Dow is down 0.12%, or by 63 points. The Nasdaq is flat. Oil is up by $3.55. Gold prices are down by $53.57 at $5,181. Bitcoin slipped by $587.60 to $69,369.
Unfortunately, a defiant Iran just ramped up its strikes, hitting three cargo ships in the Strait of Hormuz. That’s why oil is up $3.55. However, it’ll be interesting to see what happens next with oil, with the International Energy Agency proposing the largest release of oil reserves in its history to bring down crude prices.
In addition, as noted by The Wall Street Journal, “The release of 400 million barrels of oil would more than double the agency’s biggest prior release, when IEA member countries in 2022 put 182 million barrels on the market after Russia launched its full-scale invasion of Ukraine, the officials said. The proposal was circulated at an emergency meeting of energy officials from the IEA’s 32-member countries on Tuesday. Countries are expected to decide on the proposal on Wednesday. It would be adopted if no one objects, but even one country’s protests could delay the plan.”
Consumer Prices up 2.4% Annually as Expected
Consumer prices were up 2.4% annually as expected, and were up 0.3% for the month.
Excluding volatile food and energy prices, core CPI posted a 0.2% monthly reading and 2.5% annual rate, compared to forecasts for 0.2% and 2.5%, also in line with the estimates. The annual rate was unchanged from January.
Market Movers: Oracle Soars 10% on Earnings
Shares of Oracle are up 10%, or by $15.26, after beating third-quarter numbers and raising guidance. For Q3, EPS of $1.79 beat by 10 cents. Revenue of $17.19 billion, up 21.7% year over year, beat by $280 million. Cloud revenue was $8.9 billion, up 44% year over year. It was also above the estimates of $8.84 billion.
Oracle also said it expects revenue to grow between $18.93 billion and $19.24 billion. Analysts were expecting $19.11 billion. Cloud revenue is expected to grow between 46% and 50%. Adjusted earnings are expected to be between $1.92 and $1.96 per share, above the $1.93 per share estimate. Oracle added that fiscal 2027 revenue will be $90 billion.
And, according to DA Davidson analyst Gil Luria, as quoted by Seeking Alpha, “This is even better than it looks on the surface because if they can actually grow Oracle Cloud at reasonable margins, that means this is a double-digit and higher earnings growth rate company.”
In addition, analysts at JPMorgan upgraded the ORCL stock to overweight with a price target of $210 a share. RBC Capital reiterated its sector perform rating with a $160 price target. Jefferies reiterated its buy rating on Oracle with a $320 price target.
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