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J. Edward Moreno5/22/25

Hims slumps after Cigna expands GLP-1 access

Hims & Hers sank more than 9% in premarket trading as its grip on one of its most lucrative revenue streams seems to be slipping.

On Wednesday, Cigna’s pharmacy benefit manager, Evernorth, announced a plan to cap copays for popular GLP-1 weight-loss drugs at $200. Previously, a Cigna member whose employer refused to cover GLP-1s for weight loss may have turned to Hims or similar platforms for cheaper compounded versions, considering the exorbitant cash price for those drugs.

Thursday also marks the last day that compounding pharmacies can sell exact copies of semaglutide, the active ingredient in Novo Nordisk’s Ozempic and Wegovy. Hims has expanded its weight-loss offerings beyond semaglutide and has other revenue streams, but few products match the same growth levels as GLP-1 drugs.

Novo also announced Thursday morning that it would offer a first month of its weight-loss drug Wegovy for $199 for cash-paying patients. The company also doubled down on its stance against “mass compounding” and said it will pursue legal action against players who continue selling compounded versions.

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J. Edward Moreno

Hims rises on revenue beat, discloses it’s again in partnership talks with Novo

Hims also disclosed on Monday that it’s in talks with Novo Nordisk to make the drugmaker’s weight-loss drugs available on its platform. Last time, that didn’t go so well.

Palantir reports Q3 numbers

Palantir posts ninth straight earnings beat, boosts guidance

Here’s how the numbers look.

Matt Phillips14h

Tasha Matsumoto

Amazon and the AI trade sustain stock gains

Stocks kicked off what is historically their best month of the year on a positive note, with help from Amazon and AI.

PAMPLONA, NAVARRA, SPAIN - 2025/07/09: Morante de la Puebla, a bullfighter from Seville fights a bull from the Alvaro Nunez ranch in Pamplona's Plaza Monumental during the 2025 San FermÌn festival

markets

Trump’s “impossible trinity” on AI and energy

Everyone loves a good trilemma.

In economics, the most famous of the genre was developed by Fleming and Mundell, which posits that you can only successfully achieve two of the following three objectives: the free flow of capital, a fixed exchange rate, and independent sovereign monetary policy.

George Pollack, senior US policy analyst at Signum Global Advisors, proposed a trilemma of his own to describe the Trump administration’s competing policy aims as a red-hot AI boom devours power and leaves households miffed by rising electricity bills.

He wrote:

“This note flags what we believe to be a simple reality whose salience will continue growing in US politics in coming months: the Trump administration, in its remaining three years will face a trilemma as the nation waits for its energy bet to play out — proving able to achieve two, but not all three, of the following objectives:

-Fulfill AI’s energy-appetite.
-Keep repressing renewable sources of energy.
-Appease American electricity consumers.”

Trump AI trilemma

As for evidence that the Trump administration is taking a fossil fuels-first approach while stunting renewables, Pollack pointed to the One Big Beautiful Bill Act, which shrinks access to tax credits for green energy, as well as the end to the federal pause on liquefied natural gas export permits. However, it would be “inaccurate and unfair” to blame President Trump’s policies for surging electricity prices in recent months, he added.

While the government has pursued the expansion of nuclear power as a way to solve this trilemma, the long lead times involved are incongruent with a short-term fix.

Palantir reports Q3 earnings results

Palantir climbs toward a fresh record high ahead of earnings report

Traders and Wall Street are waiting to see whether Palantir’s latest numbers after market close today will continue to beat expectations.

Matt Phillips18h

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