Select a category

Shares of Insulet (PODD) suffered the heaviest losses of any S&P 500 stock on Friday, dropping 8.8% after the maker of insulin management devices suggested new user growth could be lower than previously expected in the second half of 2024, despite topping second-quarter sales estimates.

Insulet reported diluted earnings of $2.59 per share on revenue of $488.5 million, growing from the year-ago period and exceeding analysts' estimates compiled by Visible Alpha. Revenue gains were boosted by a 26.3% year-over-year jump in sales of the company's Omnipod device.

However, adjusted earnings per share of 55 cents slightly missed expectations as the company recognized the impact of a $13.5 million charge during the quarter related to inventory it anticipates will remain underutilized.

The company said it still anticipates users will grow in the second half of the year, though it suggested the pace of growth could be lower than previously anticipated, driven by a reduced numbers of patients switching from competing devices.

In a note released following the earnings report, Baird analysts said they heard concerns from investors about user growth, particularly in the U.S., but said Insulet could be poised to generate additional quarter-over-quarter improvements in global new patient starts this year.

Baird maintained an "outperform" rating and $238 price target for Insulet stock, highlighting the company's increasing margin strength and potential for global sales growth.

The company raised its guidance for full-year revenue growth to between 16% and 19%, up from a previous range of 14% to 18%.

With Thursday's losses, Insulet shares have fallen about 16% since the start of the year.

Read more on Investopedia

Canopy Growth Corporation (CGC) shares dropped Friday after the company’s first-quarter fiscal 2025 earnings fell significantly short of expectations.

The cannabis producer’s revenue of 66.2 million Canadian dollars ($48.2 million) came in 13% lower than a year earlier and missed analysts’ projections of C$72.1 million. Its net loss widened to C$1.60 per share from C$0.69 per share, more than double the consensus per share loss. 

Canadian adult-use cannabis sales for the company decreased 22% to C$18.9 million, mostly offset by a 20% increase in medical cannabis sales to C$18.8 million. 

Looking ahead, Canopy is setting its sights on the second half of the fiscal year. 

“The fundamentals of our business continue to strengthen, and our focus on profitable revenue generation is yielding clear results as we set the stage for growth in the second half of fiscal 2025,” said Canopy CEO David Klein. 

Shares of the Ontario-based company fell 7.95% in trading Friday, although they're up roughly 32% year-to-date.

Read more on Investopedia

Shares of e.l.f. Beauty (ELF) tumbled on Friday after the cosmetics and beauty products maker gave a weaker-than-expected outlook after posting a monster quarter.

E.l.f. sees full-year adjusted earnings per share (EPS) of $3.36 to $3.41, and revenue in the range of $1.28 billion to $1.30 billion. While those were higher than the company’s previous guidance, analysts had been looking for better.

The news offset e.l.f.’s blowout fiscal 2025 first-quarter results. Adjusted EPS came in at $1.10, 25 cents more than the average forecast of analysts surveyed by Visible Alpha. Revenue soared 50% to $324.5 million, also well above estimates.

The company said the jump in revenue was powered by strong retail and e-commerce channels which gained 43% and 105%, respectively. Gross profit was boosted by higher prices and volumes.

CEO Tarang Amin noted that this was the company’s 22nd consecutive quarter of both net sales growth and market share gains. He said that puts e.l.f. “in a rarified group of high growth consumer companies.” 

E.l.f. Beauty shares fell more than 14% on Friday. Despite that loss, the stock remains nearly 12% higher for 2024.

Read more on Investopedia

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has said women who wear makeup, especially during their weddings, do not believe God did a perfect job on them.

Speaking at the Redemption City, Mowe, Ogun State, Adeboye said: “When you marry, you cut your coat according to your clothes. Some of you want to be like the people of the world. I can’t even imagine some of the things I see now. It wasn’t so in the beginning.

People spend hundreds of thousands of naira on ‘shoot out’ (photo shoot). And then, on the day of the wedding, the girl put on all manner of decorations. Those who do makeup are those who do not believe God did a good job.

When God created you, He did a great job, you are wonderful, perfectly made, and you cannot find any other fellow like you. You are special.

When you begin to paint, and you think you can improve on what God has already done, you are a f%%l. You can never improve on what God has done.”

Continue reading on Instablog

Rocket Lab USA (RKLB) shares popped Friday, a day after the company posted record revenue and a narrowing of its second-quarter loss.

The aerospace company reported revenue of $106.3 million, up 71% year-over-year and ahead of estimates from analysts polled by Visible Alpha. Its second-quarter net loss also beat forecasts, narrowing to $41.6 million from $45.9 million last year.

"This 71% year-on-year revenue increase demonstrates the strong and growing demand for our launch services and space systems products, and importantly, our team's ability to execute against it," Chief Executive Officer (CEO) Peter Beck said. 

Rocket Lab is projecting third-quarter revenue between $100 million and $105 million. Analysts polled by Visible Alpha expect $102.8 million.

Meanwhile, Rocket Lab announced that it successfully hot fired its Archimedes engine, which will be used in the company's medium-lift rocket, Neutron.

Shares of Rocket Lab surged 12% to $5.35 as of 12:50 p.m. ET but are still down around 3% this year.

Read more on Investopedia