markets

Luke Kawa & J. Edward Moreno6/3/25

Hims & Hers soars after agreement to buy Zava, expanding geographic footprint

Hims & Hers is up about 6% in premarket trading after the health and wellness platform announced an all-cash deal to acquire European peer Zava.

The purchase would enhance Hims’ presence in the UK and marks its foray into the German, France, and Irish markets. Management expects the deal to close in the second half of this year and be accretive by 2026, per the press release.

Hims raised $1 billion in capital in May, which CEO Andrew Dudum said would help the company invest in focus areas like international expansion and artificial intelligence.

Hims first expanded to the UK in 2021 when it acquired London-based vertical health platform Honest Health.

Hims, which currently had 2.4 million subscribers as of its most recent quarterly report, will inherit Zava’s 1.3 million subscribers. Zava appears to own its own doctor networks and pharmacies in the UK and Germany, according to the company’s terms of use for those countries.

Hims has been on a rollercoaster this year as investors get a clearer picture of the company’s future after it lost its ability to make exact copies of popular weight-loss drugs last month. It has shifted focus to offering other weight-loss drugs and partnering with Novo Nordisk to offer Novo’s branded drugs on its platform.

Hims also has its eyes on expanding into hormone treatments. In the past year, it has acquired a peptide facility in California and an at-home testing lab in New Jersey that will support that expansion.

More Markets

See all Markets

markets

Applied Digital has “more near-term catalysts than the market expects,” says Needham

Applied Digital is up in early trading as Needham & Co. analyst John Todaro bangs the table on the Nvidia-backed data center upstart’s ability to secure energy to expand its operations.

In a note to clients, the analyst reiterated his “buy” rating while “calling attention to the possibility of more near-term catalysts than the market expects.”

The company recently announced a $5 billion, 15-year AI factory lease from a “US based investment grade hyperscaler” at its Polaris Forge 2 campus, which came on the heels of comments from its earnings call earlier this month about negotiations with two additional hyperscalers for two new locations.

The AI boom is resource-constrained in a variety of ways, including power. But after a recent conversation with Applied Digital’s management, Todaro thinks “there is a real pathway to source more power than previously thought,” writing, “APLD has received numerous calls from operators over the last few weeks offering stranded power; APLD is fairly confident it can continuously source power over the next five years.”

The Trump administration is reportedly pushing for a speedier approval process for data centers to connect to the power grid.

Todaro thinks the company’s goal of net operating income of $1 billion over the next five years “could prove conservative given the ongoing demand and ability to source available power.”

Wall Street is universally bullish on Applied Digital, with all 10 analysts who cover the stock having a “buy” (or equivalent) rating.

markets

Max Knoblauch1h

Uber, Lucid climb after setting San Francisco as the first market for joint robotaxi fleet

San Franciscans’ robotaxi options are about to expand again.

Shares of Uber and Lucid are rising in premarket trading Wednesday after the companies set the Bay Area as the first market for their planned robotaxi fleet.

The vehicles will hit SF roads next year, putting Uber in direct competition with Waymo, which is operational in the region. Tesla is testing robotaxis in the area, and Amazon’s Zoox began offering rides there earlier this month. Uber also works with Waymo in select cities, including Austin and Atlanta.

Yesterday, Uber announced a partnership with Nvidia, setting a goal to have a fleet of 100,000 Nvidia-powered autonomous vehicles. Uber will begin scaling its fleet in 2027. The announcement widens the already robust web of auto and tech partnerships that make up the US robotaxi market.

Last month, Lucid delivered its first Uber-bound vehicle to Nuro, the tech partner in the robotaxi fleet partnership. The agreement will see at least 20,000 Lucid vehicles turned into robotaxis over the next six years.

Uber shares were up about 2% in premarket trading on the news, while Lucid shares climbed more than 6%.

Uber to Take on Waymo in San Francisco With Lucid, Nuro Robotaxis

Uber to Take on Waymo in San Francisco With Lucid, Nuro Robotaxis

The vehicles will hit SF roads next year, putting Uber in direct competition with Waymo, which is operational in the region. Tesla is testing robotaxis in the area, and Amazon’s Zoox began offering rides there earlier this month. Uber also works with Waymo in select cities, including Austin and Atlanta.

Yesterday, Uber announced a partnership with Nvidia, setting a goal to have a fleet of 100,000 Nvidia-powered autonomous vehicles. Uber will begin scaling its fleet in 2027. The announcement widens the already robust web of auto and tech partnerships that make up the US robotaxi market.

Last month, Lucid delivered its first Uber-bound vehicle to Nuro, the tech partner in the robotaxi fleet partnership. The agreement will see at least 20,000 Lucid vehicles turned into robotaxis over the next six years.

Uber shares were up about 2% in premarket trading on the news, while Lucid shares climbed more than 6%.

markets

Claire Yubin Oh2h

Teradyne soars on strong results and outlook, company sees Q4 adjusted EPS guidance of $1.20 to $1.46

Teradyne is up more than 15% in premarket trading on Wednesday after the semiconductor manufacturing company reported better-than-expected Q3 results and bumped its outlook for the rest of the year.

Revenue for the latest quarter came in at $769 million, surpassing analysts’ expectations for $745 million (estimates compiled by Bloomberg), driven by strong sales from its Semiconductor Test division.

“Growth was driven primarily by System-on-a-Chip (SOC) solutions for artificial intelligence applications and strong performance in memory. As we look ahead to Q4, AI-related test demand remains robust across compute, networking and memory segments,” CEO Greg Smith said in the press release.

The company now expects adjusted earnings per share in the fourth quarter to fall between $1.20 and $1.46, way ahead of analyst estimates for $1.05, driven by strong AI-related test demand. Revenue is expected to come in between $920 million and $1 billion.

The outlook “implies the highest revenue on a quarterly basis for the company since 2Q21,” per JPMorgan analysis cited by Bloomberg, which added that the “key focus of investors would be the sustainability of the high levels of demand implied in the 4Q25 guide.”

The company also named Michelle Turner as its new CFO on Tuesday, effective November 3, as its current CFO, Sanjay Mehta, prepares for retirement.

US-AVIATION-BOEING

Boeing turns cash flow positive for the first time since its door plug blowout

But its loss widened due to a steep charge related to a 777X certification delay.

Max Knoblauch2h

markets

Etsy drops on CEO shake-up and weaker-than-expected core sales

Shares of Etsy fell as much as 9% in early trading after the online marketplace announced a leadership transition and posted some disappointing Q3 results before market open on Wednesday morning.

In a press release, the company announced that current President and Chief Growth Officer Kruti Patel Goyal would replace Josh Silverman as CEO after eight years at the helm, effective January 1, 2026.

But Etsy’s report, also released this morning, showed that sales slumped in the third quarter. Gross merchandise sales were just $2.72 billion, down from last year’s $2.92 billion and Wall Street estimates of $2.76 billion, per Reuters. Revenue was bit more solid, though mainly because the company seems to have increased its take rate (Etsy’s share of sales made on the platform) in its marketplace business to 24.9%, up from 22.7% for the same period last year.

Promoting its growth chief to CEO could improve Etsy’s position looking forward; with the number of active buyers and sellers dropping over the last year, getting back to growth in the AI era will be a top priority for the company.

Etsy names insider Kruti Goyal as CEO, posts downbeat Q3 results

reuters-etsy-led

But Etsy’s report, also released this morning, showed that sales slumped in the third quarter. Gross merchandise sales were just $2.72 billion, down from last year’s $2.92 billion and Wall Street estimates of $2.76 billion, per Reuters. Revenue was bit more solid, though mainly because the company seems to have increased its take rate (Etsy’s share of sales made on the platform) in its marketplace business to 24.9%, up from 22.7% for the same period last year.

Promoting its growth chief to CEO could improve Etsy’s position looking forward; with the number of active buyers and sellers dropping over the last year, getting back to growth in the AI era will be a top priority for the company.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.

©2025 Sherwood Media, LLC