markets

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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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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