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J. Edward Moreno8/14/25

Hims falls after report FTC is investigating its business practices

Hims & Hers shares tumbled after Bloomberg reported that the Federal Trade Commission is probing complaints about its advertising and cancellation practices.

The FTC has been looking into the complaints for over a year, the outlet reported. The company said last year that it was cooperating with the FTC on an inquiry, though it didn’t specify what it pertained to.

Hims did not immediately respond to a request for comment, nor did it comment to Bloomberg. In a statement to Hims House, a bullish retail investor blog, the company said, “We’ve seen a rehashed story from Bloomberg about an ongoing FTC inquiry.”

The stock was recently down 5% in after-hours trading. Hims has fallen about 10% in the past week after it reported sales that disappointed Wall Street.

Hims, a subscription telehealth service, had about 2.4 million subscribers as of the end of the second quarter. It offers compounded erectile dysfunction and weight-loss medications, among other products.

The company’s sales exploded last year when it began selling compounded GLP-1 weight-loss medications, but that source of growth is drying up. The FTC probe adds to its list of risk factors, including potential lawsuits from drugmakers and enforcement action from the Food and Drug Administration.

FTC Probing Complaints About Hims’ Ads, Cancellation Practices

FTC Probing Complaints About Hims’ Ads, Cancellation Practices

Hims did not immediately respond to a request for comment, nor did it comment to Bloomberg. In a statement to Hims House, a bullish retail investor blog, the company said, “We’ve seen a rehashed story from Bloomberg about an ongoing FTC inquiry.”

The stock was recently down 5% in after-hours trading. Hims has fallen about 10% in the past week after it reported sales that disappointed Wall Street.

Hims, a subscription telehealth service, had about 2.4 million subscribers as of the end of the second quarter. It offers compounded erectile dysfunction and weight-loss medications, among other products.

The company’s sales exploded last year when it began selling compounded GLP-1 weight-loss medications, but that source of growth is drying up. The FTC probe adds to its list of risk factors, including potential lawsuits from drugmakers and enforcement action from the Food and Drug Administration.

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BNP upgrades Seagate on more durable cycle

Seagate Technology Holdings was up in early trading after analysts at BNP Paribas upgraded the shares to “outperform” from “neutral” and lifted their price target to $380 a share, implying a gain of almost 15% from where the stock is currently trading.

The maker of the somewhat stodgy technology known as hard disk drives — or HDDs in tech lingo — was one of the top stocks in the S&P 500 for much of last year as it was swept up in the AI data center trade.

Data centers need tons of storage capacity, and demand from hyperscalers has driven up prices and created shortages for disk drives, an industry that is dominated by a duopoly of Seagate and Western Digital. (BNP also maintained its “outperform” rating on WDC in a note Wednesday.)

The analysts at BNP say they pushed by the buy button on the stock after becoming more convinced that the upswing in sales was durable, writing:

“We have witnessed a structural shift happening in HDD industry, toward 1) an effective duopoly, 2) higher mix toward data centers, and 3) disciplined capex investments. These have supported our expectations of long-term, through-cycle profitability for the HDD industry. We are now upgrading Seagate from Neutral to Outperform as we are gaining greater conviction that robust data center storage demand could drive an upcycle longer than we initially expected. We think a secular re-rating of Seagate (as well as Western Digital) to over 20x is justified.”

“We have witnessed a structural shift happening in HDD industry, toward 1) an effective duopoly, 2) higher mix toward data centers, and 3) disciplined capex investments. These have supported our expectations of long-term, through-cycle profitability for the HDD industry. We are now upgrading Seagate from Neutral to Outperform as we are gaining greater conviction that robust data center storage demand could drive an upcycle longer than we initially expected. We think a secular re-rating of Seagate (as well as Western Digital) to over 20x is justified.”

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Stocks jump as Trump says “I won’t use force” to acquire Greenland

In a speech in Davos, Switzerland, US President Donald Trump said he won’t use force to acquire Greenland, sending stocks higher at the open.

“We probably won't get anything unless I decide to use excessive strength and force, where we would be frankly unstoppable, but I won’t do that,” Trump told the crowd, referring to his pursuit of Greenland, which has roiled markets recently. “People thought I would use force. I don’t have to use force. I don’t want to use force. I won’t use force.”

He seemed to indicate that Denmark, which owns Greenland, could rebuff the US’s overtures to acquire the country without military retaliation.

“They have a choice. You can say yes and we will be very appreciative. Or you can say no and we will remember,” he said. Throughout his speech, Trump constantly reiterated his desire for the US to own Greenland.

Stocks rose at the open, with the S&P 500 rising 0.3%. S&P 500 futures, which had been down Wednesday morning, jumped after his comments.

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J. Edward Moreno3h

J&J slips despite cheery 2026 guidance

Johnson & Johnson reported fourth-quarter sales that beat expectations and gave rosy guidance for 2026.

The company said it expects to bring in between $100 billion and $101 billion in revenue this year, compared to the $98.9 billion analysts polled by FactSet were expecting. The drugmaker also expects to report between $11.43 and $11.63 in annual adjusted earnings per share, compared to the $11.48 that Wall Street was expecting.

Despite beating expectations, J&J, the first major drugmaker to report earnings results this year, fell by more than 2% in premarket trading.

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GameStop rallies after CEO Ryan Cohen purchases $10.6 million in company stock

Ryan Cohen isn’t waiting for any market cap and EBITDA performance milestones to get his hands on more shares of GameStop.

The CEO boosted his stake in the video game and collectibles retailer by roughly $10.6 million on Tuesday, purchasing 500,000 shares across a series of transactions at an average weighted price close to $21.12.

Shares are up nearly 2% in premarket trading on Wednesday.

Cohen owns approximately 8.45% of shares outstanding, making him the largest individual holder of the stock and the second-largest owner, trailing only index fund provider Vanguard. His last open market purchase of GameStop was on April 3, 2025 — also for 500,000 shares at a weighted price slightly higher than Tuesday’s buys.

GameStop recently announced a long-term pay package for Cohen that would tie his remuneration completely to the company and stock’s performance. If approved, it would see the CEO receive options that allow him to buy company stock at a discount if he’s able to concurrently achieve escalating levels of cumulative EBITDA and market cap milestones.

To receive the first tranche, Cohen would need GameStop to have bottom-line results roughly on par with any three-year stretch of the 2010s, while attaining a market cap that the company only received on a closing basis during the 2021 meme stock episode.

During his tenure atop the company, Cohen has proven adept at controlling expenses and overseeing the rapid growth of GameStop’s collectibles business, resulting in the retailer generating positive cash flow from operations for a record six consecutive quarters.

Separately, board member Alain Attal also purchased about $251,000 in company stock on Tuesday.

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