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Hims soars after “choose-your-own-adventure” earnings report

There’s a possibility Tuesday’s price jump is the result of the many traders short on Hims covering their positions.

J. Edward Moreno

Hims & Hers rose more than 17% on Tuesday after whipsawing in after-hours trading Monday evening as investors digested a nuanced earnings report.

The results had a mix of good and bad news, giving both bears and bulls something to point to. After a tug of war, it appears the bulls have won, sending the stock rising. Here’s a breakdown of the news.

Shot: Hims reported a slowdown in its core business (impotence medications) and gave a weak guidance for second-quarter revenue while reiterating its guidance for the full year. Even Wall Street’s expectations, which are above the company’s guidance, forecast a quarterly decline in revenue — a first for Hims.

Chaser: The company beat the Street’s expectations for the first quarter, saying it would add new categories by the end of the year and expand internationally. It also announced that it hired a seasoned Amazon veteran as COO earlier in the day.

The stock is now up more than 77% in the past month. There’s a possibility Tuesday’s price jump is the result of the many traders short on Hims covering their positions in a good old-fashioned short squeeze.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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