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- Hims Slashes Weight-Loss Costs
Hims Slashes Weight-Loss Costs
Hims, Lowes, Dimon
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Good Morning!
Happy Tuesday! Have a great week:
👉 Hims & Hers weight loss drug
👉Lowe’s earnings are in
👉Jamie Dimon mulls retirement
HIMS: Weight Loss Drug
Hims & Hers Health has quickly reached nearly $1 billion in sales by offering affordable generic versions of popular drugs like Viagra. Now, they’re using the same strategy to enter the weight-loss market. Hims offers weight-loss treatments for $199 a month, compared to $1,350 for Wegovy from Novo Nordisk and similar prices for Eli Lilly’s Zepbound. This significant discount helps customers avoid the high costs and shortages of branded medications.
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Source: Yahoo
After this announcement, Hims' stock surged 38%, the biggest jump in over three years. Hims can offer these drugs due to US rules that allow pharmacies to make copycat versions when there are shortages, a process called "compounding." This practice ensures availability when manufacturers can’t keep up with demand. The company expects the weight loss area to surpass $100 million in revenue next year. Their stock has risen more than 60% this year.
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EARNINGS: Lowe’s
Lowe's exceeded Wall Street's expectations for quarterly earnings and revenue, despite fewer purchases by do-it-yourself customers. Lowe's expects full-year sales between $84 billion and $85 billion, down from $86.38 billion last year. Comparable sales are projected to decline 2% to 3%, with earnings per share between $12 and $12.30. For the quarter ending May 3, net income fell to $1.76 billion, or $3.06 per share, from $2.26 billion, or $3.77 per share, a year earlier. Sales dropped to $22.35 billion, marking the fifth consecutive quarter of declines.
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Source: CNN
Compared to Home Depot, Lowe's has fewer professional customers, who provide more consistent business. Lowe's is working to attract more professionals. CEO Marvin Ellison said gains in this area and online sales growth helped offset the decline in DIY spending. Last year, Lowe's lowered its outlook and reported a sales decline, expecting a pullback in discretionary spending. Sales have continued to decline year-over-year for the past three quarters.
DIMON: Mulls Retirement
Jamie Dimon's time as CEO of JPMorgan Chase is nearing its end, though the exact timeline is unclear. On Monday, Dimon mentioned he expects to stay for less than five more years, a shift from his usual five-year retirement response. This has left investors and analysts wondering about the bank’s future leadership. During his nearly two-decade tenure, Dimon, 68, has grown JPMorgan into America’s largest bank by several measures.
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Source: Fox
Despite this, Dimon stated he still has the same energy for managing the company. The decision on his departure will ultimately be up to JPMorgan’s board, and he encouraged investors to consider potential successors. Top candidates include Marianne Lake, CEO of the consumer bank, and Jennifer Piepszak, co-head of the commercial and investment bank. Both were appointed to their roles in January. Even after stepping down as CEO, Dimon is likely to remain as the bank’s chairman.
Chart of the Day
📊 S&P 500 Returns
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Source: ETF Investments
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GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
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Source: @ebitdad
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