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SoFi jumps on Q1 beat and raise

The midcap fintech firm had been a laggard this year, down 14% through yesterday’s close, after rising more than 50% in 2024.

Matt Phillips

4/29/25 9:56AM

SoFi Technologies is up in the premarket session after posting a good old-fashioned beat and raise that helped allay concerns over how rising interest rates and falling consumer sentiment would register in the fintech firm’s financials.

Net revenue of $771 million, up 20% year over year, topped expectations of $739 million. And non-GAAP earnings per share of $0.06 doubled the consensus call for $0.03 a share. The company was also GAAP-profitable — that is, using the stricter accounting rules that often don’t figure in the Wall Street estimates — for the sixth consecutive quarter. Prior to that, the company was money losing, by GAAP standards, for six years straight.

SoFi also hiked it financial guidance as well, raising full-year GAAP profit guidance to between $320 million and $325 million in 2025, as well as raising guidance for a range of other business metrics.

If the shares hold on to their healthy premarket gains Tuesday, it will add to the recent romp that pushed them up 20% over the last seven sessions.

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Nike craters after issuing weak revenue guidance

Sportswear kingpin Nike is tumbling on Wednesday morning after saying it doesn’t expect to grow sales this year.

On its fiscal Q3 earnings call, management said that revenue is expected to drop 2% to 4% in the current quarter, and that overall they “expect revenues to be down low-single-digits versus the prior year, with gains in North America offset by declines in Greater China.” That's a disappointment to analysts, who were anticipating 2% growth in Q4, and even more in the latter stages of the year, per Bloomberg.

Nike’s Q3 sales in China — where the company earns about 15% of its revenue — fell 7% to $1.62 billion. The company had issued weak guidance for this quarter considering continued softness in the region. That’s its seventh straight quarter of sales declines in the market. While this quarter’s was decline was less than feared, management warned that more pain is in the offing.

Nike’s turnaround effort “is complex work, and parts of it are taking longer than I'd like,” said CEO Elliott Hill.

Nike’s fiscal Q3 results (the three months ended February) were solid at the headline level:

Earnings of $0.35 per share, comfortably above the Wall Street consensus of $0.29 per share compiled by FactSet.
$11.28 billion in total revenue, roughly in line with the $11.26 billion estimate.

But the gloomy sales outlook has Wall Street analysts souring on the stock:

JPMorgan downgraded the shares to “neutral” from “overweight” and cut its price target to $52 from $86.
Citi reduced its target price to $53 from $65,
Stifel lowered its price target to $56 from $65,
Truist reduced its price target to $57 from $69, and
Barclays cut its target price to $67 from $73.

Nike shares are trading near decade lows this month, as tariffs continue to weigh on profits and shipping costs rise amid the war with Iran. As of Tuesday’s close, the stock was down 17% year to date.

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Oil-sensitive travel stocks pop following Iran state media reporting on potential war resolution

Travel stocks are surging on Tuesday as oil prices fall following reports from Iranian state media that President Masoud Pezeshkian said the country has “the necessary will to end this war,” but would only do so with guarantees that “prevent the recurrence of aggression.”

The war has sent oil prices and refining margins surging this month, causing airlines and cruise lines to cut profit forecasts despite reported high demand.

Following Tuesday’s update, shares of the big four US airlines (Delta Air Lines, United Airlines, American Airlines, and Southwest Airlines) all climbed, along with smaller rivals including JetBlue. US airlines have stopped fuel hedging in recent years, increasing their exposure to upward swings in oil prices.

Cruise stocks also rallied, with Carnival and Norwegian up more than 6% and Royal Caribbean up about 5%.

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The FDA is expected to lift restrictions on certain peptides, the NYT reports

The Food and Drug Administration is expected to lift restrictions on certain peptides, allowing the experimental, often injectable substances to be sold by compounding pharmacies, The New York Times reported Tuesday.

The potential move was previously reported by The Wall Street Journal, and teased by Health Secretary Robert F. Kennedy Jr. on the “Joe Rogan Experience” podcast in late February.

Peptides have boomed in popularity recently, with search interest for “peptides” surpassing “ozempic” this month. Many of them are currently understudied and not approved for human use, a rule consumers are able to bypass by purchasing them from suppliers that sell them for, ostensibly, research purposes only.

As reports of the FDA changing its stance of peptides mount, consumer health companies like Hims & Hers and Superpower have been getting ready to roll out their peptide offerings as soon as they get the FDA's blessing.

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