markets

Luke Kawa2/12/25

CVS soars as fourth-quarter earnings exceed every Wall Street estimate

Shares of CVS Health are soaring in the premarket after the drugstore and insurance company delivered fourth-quarter earnings per share that surpassed every analyst’s estimate — the company’s EPS of $1.19 crushed the consensus estimate of $0.92 — and reported better-than-expected revenues to boot.

A bigger surprise on the bottom line than the top line usually means one thing: effective expense control.

The medical benefit ratio (that is, the share of premiums collected spent on medical care) in its insurance ratio was 94.8%, lower than projected. That’s a positive, since it means more money is left over for the company to claim as profits.

Its peer, Cigna, reported larger-than-expected outlays to cover patients’ costs when it released earnings in late January, sending shares sharply lower.

Management’s guidance for 2025, however, was a little on the low side. Adjusted earnings per share are projected to come in between $5.75 and $6.00, while the consensus estimate currently sits at the top of that range. Projected sales of “at least $385.9 billion” are a bit shy of where the sell side is at, too.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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