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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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The median home price jumped 1.6% YoY last month and is sitting at $431,931. Meanwhile, mortgage rates for a 30-year fixed loan (the most common) are still hovering just under 7%. The chief economist of the National Association of Realtors said lower mortgage rates are the key to getting buyers to buy homes again.

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What’s up

• Ulta Beauty is sitting pretty, up 11.78% after the cosmetics retailer crushed earnings expectations and raised its fiscal guidance for the year ahead.
• Costco Wholesale rose 3.12% after beating Wall Street’s earnings expectations, though same-store sales did slip a bit.
• Zscaler climbed 9.79% on strong earnings for the cybersecurity company, including 23% revenue growth.
• Palantir popped 7.73% on a report from the New York Times that the Trump administration has asked the company to help the government compile data on US citizens.

What’s down

• Nvidia slipped 2.92% as rhetoric between the US and China over semiconductor import restrictions reignited investor fears.
• Gap plunged 20.18% after the retailer revealed that tariffs will cost between $100 and $150 million.
• Marvell Technology fell 5.55% after the chip maker barely beat Wall Street expectations last quarter, failing to impress shareholders.
• Regeneron Pharmaceuticals tumbled 19.01% thanks to mixed results for its new respiratory drug in late stage trials. The medication is made in partnership with Sanofi, which also dropped 5.61%.
• Dell Technologies sank 2.08% after missing earnings expectations last quarter, though it did manage to beat on revenue.
• Elastic NV beat analyst forecasts last quarter, but still fell 12.09% after the software company issued lower-than-expected revenue guidance.
• PagerDuty, which is in fact a cloud computing company and not a seller of 1990s tech, lost 11.43% after issuing lower second-quarter guidance than Wall Street forecast.

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23andMe peaked at a $6 billion valuation in 2021 but never made a profit. It filed for bankruptcy on March 23rd and was put up for auction.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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