Key PointsSometimes the market punishes stocks for things that don’t actually damage the core business. Both Deckers Outdoor Corporation and Lululemon Athletica are still growing, beating expectations, and expanding globally.
Key PointsSometimes the market punishes stocks for things that don’t actually damage the core business. Both Deckers Outdoor Corporation and Lululemon Athletica are still growing, beating expectations, and expanding globally.
Earnings Call Insights: Establishment Labs (ESTA) Q1 2026 Management View "Q1 2026 was a strong start to the year with $59.9 million in revenue and adjusted EBITDA of $1.2 million" (CEO & Director Filippo Caldini). "The U.S. business continued to outperform with $19.6 million of revenue" and management emphasized U.S. momentum despite seasonality, noting "Q1 is a seasonally light quarter... so to ...
Earnings Call Insights: Establishment Labs (ESTA) Q1 2026 Management View "Q1 2026 was a strong start to the year with $59.9 million in revenue and adjusted EBITDA of $1.2 million" (CEO & Director Filippo Caldini). "The U.S. business continued to outperform with $19.6 million of revenue" and management emphasized U.S. momentum despite seasonality, noting "Q1 is a seasonally light quarter... so to grow quarter-over-quarter is a testament to the strength and acceleration of our U.S. launch" (CEO & Director Caldini). "We are raising our guidance to $266.5 million to $268.5 million, up from a previous range of $264 million to $266 million" and tied the increase to demand indicators: "we are setting new weekly highs in our U.S. order counts" (CEO & Director Caldini). "We refinanced our credit facility and expect to reach cash flow positive in the second half of the year" (CEO & Director Caldini). "We delivered an exceptional start to 2026 with nearly 45% revenue growth, gross margin expansion over 70% and our third consecutive quarter of positive adjusted EBITDA" (Senior VP & CFO Cassandra Harris). Outlook "We are increasing our full year revenue guidance to $266.5 million to $268.5 million" and characterized this as "growth of approximately 26% to 27% over 2025" (Senior VP & CFO Harris). "At $9.1 million in the quarter, our minimally invasive business is above expectations, and we now expect to exceed $35 million in 2026, up from the $30 million we guided to in February" (Senior VP & CFO Harris). "We expect gross margins in the range of 71.2% to 72.2% for the full year" and "operating expenses are expected to remain between $195 million and $200 million" (Senior VP & CFO Harris). "We also expect to be adjusted EBITDA positive in each quarter of 2026" and "on track to achieve cash flow positive in the second half of the year" (Senior VP & CFO Harris). Financial Results "Total revenue for the first quarter was $59.9 million" and "gross profit for the first quarter was $42...
Earnings Call Insights: Voya Financial (VOYA) Q1 2026 Management View "Building on our 2025 performance, we are off to a strong start in 2026" (President, CEO & Director Heather Lavallee), adding, "In the first quarter, we delivered significant growth in revenues, earnings and cash flows" and "We grew adjusted operating EPS by 13% year-over-year... while continuing to deliver a return on equity ab...
Earnings Call Insights: Voya Financial (VOYA) Q1 2026 Management View "Building on our 2025 performance, we are off to a strong start in 2026" (President, CEO & Director Heather Lavallee), adding, "In the first quarter, we delivered significant growth in revenues, earnings and cash flows" and "We grew adjusted operating EPS by 13% year-over-year... while continuing to deliver a return on equity above 18%." "We generated approximately $200 million of excess capital, returning that same amount to shareholders through repurchases and dividends" (President, CEO & Director Lavallee), while emphasizing, "Our near-term focus on restoring the profitability and earnings power of this business is the most value-accretive path we can take for shareholders" in Stop Loss. "In the quarter, adjusted operating EPS was $2.26 per share" (Executive VP & CFO Michael Katz), and "On a trailing 12-month basis, adjusted operating EPS totaled $9.11 per share representing a growth of over 20%." "We generated $209 million of adjusted operating earnings" in Retirement (Executive VP & CFO Katz) and said OneAmerica expenses should ease: "we expect expenses to step down in the second quarter due to normal seasonality... as the OneAmerica integration work concludes." Outlook "Our outlook for flows remains unchanged" (Executive VP & CFO Katz), adding, "We expect strong net inflows in the second quarter and full year," and CEO Jay Kaduson said, "our full year '26 outlook is unchanged" and "that's going to result in positive net flows, not only in quarter 2 but for the full year." "We remain confident in our ability to deliver 2-plus percent organic growth this year" (President, CEO & Director Lavallee) for Investment Management, while CEO Matthew Toms said, "Bottom line, the organic growth expectation, the 2-plus percent for the remainder of the year remains intact." On Stop Loss, management tied near-term execution to the margin plan: "we're pricing the business to be back within the target loss ra...
As a new era dawns for Disney (NYSE: DIS) , shareholders are left with the same nagging question: Will the stock ever do the company justice? An investment in the House of Mouse has been dead money going back more than a decade. Disney's new CEO, Josh D'Amaro, represents another opportunity for the company to live up to its promise and put some of the magic back into the stock. With that as a back...
As a new era dawns for Disney (NYSE: DIS) , shareholders are left with the same nagging question: Will the stock ever do the company justice? An investment in the House of Mouse has been dead money going back more than a decade. Disney's new CEO, Josh D'Amaro, represents another opportunity for the company to live up to its promise and put some of the magic back into the stock. With that as a backdrop, investors were watching closely for Disney's first outing under the new chief executive, and the results and accompanying commentary gave shareholders reason to hope anew. Image source: Disney Continue reading
A discussion around the prospect of US Treasury investing its excess cash into short-term money markets unleashed a flurry of wagers betting on spread movements between overnight lending rates. Details released on Wednesday by the Treasury Borrowing Advisory Committee showed a “healthy debate” on the potential of investing excess funds held by the department into the overnight repurchase market. W...
A discussion around the prospect of US Treasury investing its excess cash into short-term money markets unleashed a flurry of wagers betting on spread movements between overnight lending rates. Details released on Wednesday by the Treasury Borrowing Advisory Committee showed a “healthy debate” on the potential of investing excess funds held by the department into the overnight repurchase market. While the advisory body said benefits from the plan would be marginal, traders in the derivatives market piled on trades that would benefit from easing conditions in funding markets. Volumes in futures spreads tied to the Secured Overnight Financing Rate — a benchmark rate based on the cost of borrowing against Treasury securities — and those referencing the federal funds rate rose sharply during trading Wednesday. The flows were skewed toward buying the SOFR-fed funds basis, or the spread between the two rates, as traders are betting on the two rates moving closer together. The Treasury General Account is the government’s primary checking account at the Federal Reserve, where it generally holds enough cash to cover one week’s of outflows. Investing excess balances into the repo market could act as a liquidity boost, suppressing repo rates and SOFR. This makes buying SOFR futures attractive relative to fed funds futures. “There was a large bid for SOFR/FF basis,” BNP strategists said in note, adding that investing excess TGA balances into the repo market, if implemented “would reduce TGA volatility and provide a stronger backstop for money markets.” The June 2026 one-month SOFR-fed funds basis reached parity for the first time on record volumes. There was also elevated activity across the July, August and December basis which all traded in over 30,000 futures spreads on the day. The June volumes at around 56,000 as of 2 p.m. in New York were already well above the 14,300 15-day average. SOFR fixed at 3.62% as of May 5. The effective fed funds rate, or the weighted average of...
mim.girl/iStock via Getty Images The last time I wrote about BioMarin Pharmaceutical ( BMRN ) it was with a Seeking Alpha article entitled " BioMarin: Acquisition Of Inozyme Brings Forth Late-Stage ERT BMN 401 ." With respect to this article, I mentioned that the acquisition of Inozyme brought forth the enzyme replacement therapy [ERT] BMN 401 for the treatment of patients with ENPP1 Deficiency. I...
mim.girl/iStock via Getty Images The last time I wrote about BioMarin Pharmaceutical ( BMRN ) it was with a Seeking Alpha article entitled " BioMarin: Acquisition Of Inozyme Brings Forth Late-Stage ERT BMN 401 ." With respect to this article, I mentioned that the acquisition of Inozyme brought forth the enzyme replacement therapy [ERT] BMN 401 for the treatment of patients with ENPP1 Deficiency. I also mentioned the development of its long-acting C-type natriuretic peptide [CNP] BMN 333 for the treatment of patients with Achondroplasia. I had given this stock a "Strong Buy" rating the last time around, and I'm going to stick to this rating, and there are several reasons why. The first reason why is because it is still on track to release topline data from its phase 3 study using BMN 401 for the treatment of patients ages 1 to 12 with ENPP1 deficiency in Q2 of 2026. Should the data end up being positive, then regulatory submissions for this program are expected in the 2nd half of 2026. The second reason is because it is still pressing on with its clinical program of its long-acting CNP BMN 333 for the treatment of patients with achondroplasia. The first patient of a phase 2/3 registration-enabling study for this program occurred in April of 2026, with data expected from it in 2027. The third reason is because of BioMarin completing the acquisition of Amicus Therapeutics . The beauty of this acquisition is because it brings into the fold assets that will drive growth specifically in 2026. With this, BioMarin obtains GALAFOLD [migalastat] for Fabry disease and the two-dose regimen POMBILITI [cipaglucosidase alfa-atga] + OPFOLDA [miglustat] for the treatment of patients with Pompe disease. With the acquisition of these assets into its commercial portfolio plus the product it already had, it allowed the company to increase its full-year 2026 earnings to be between $3.825 billion and $3.925 billion. In addition, this allows it to have a mid-point revenue growth in 2026 of...
Hyperscalers building out AI infrastructure have run into a hard constraint: electricity. Training clusters and inference farms need round-the-clock baseload power, and grids in Virginia, Texas, and the Pacific Northwest are already strained. That has pushed Microsoft, Amazon, and Google toward direct purchase agreements for nuclear power with utilities and small modular reactor developers, with ....
Hyperscalers building out AI infrastructure have run into a hard constraint: electricity. Training clusters and inference farms need round-the-clock baseload power, and grids in Virginia, Texas, and the Pacific Northwest are already strained. That has pushed Microsoft, Amazon, and Google toward direct purchase agreements for nuclear power with utilities and small modular reactor developers, with ... Load Up on Nuclear Before the Data Center Energy Race Accelerates
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Penguin Solutions Inc. (Symbol: PENG), where a total volume of 19,771 contracts has been traded thus far today, a contract volume which is representative of appr
Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Penguin Solutions Inc. (Symbol: PENG), where a total volume of 19,771 contracts has been traded thus far today, a contract volume which is representative of appr
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Unity Software Inc (Symbol: U), where a total of 135,282 contracts have traded so far, representing approximately 13.5 million underlying shares. That amounts to about 1
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Unity Software Inc (Symbol: U), where a total of 135,282 contracts have traded so far, representing approximately 13.5 million underlying shares. That amounts to about 1
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Hut 8 Corp (Symbol: HUT), where a total of 71,516 contracts have traded so far, representing approximately 7.2 million underlying shares. That amounts to about 148.6% of
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Hut 8 Corp (Symbol: HUT), where a total of 71,516 contracts have traded so far, representing approximately 7.2 million underlying shares. That amounts to about 148.6% of
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Silicon Laboratories Inc (Symbol: SLAB), where a total of 8,212 contracts have traded so far, representing approximately 821,200 underlying shares. That amounts to about
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Silicon Laboratories Inc (Symbol: SLAB), where a total of 8,212 contracts have traded so far, representing approximately 821,200 underlying shares. That amounts to about
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Grid Dynamics Holdings Inc (Symbol: GDYN), where a total of 29,707 contracts have traded so far, representing approximately 3.0 million underlying shares. That amounts t
Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Grid Dynamics Holdings Inc (Symbol: GDYN), where a total of 29,707 contracts have traded so far, representing approximately 3.0 million underlying shares. That amounts t
Never miss an episode. Follow The Big Take daily podcast today. Can NASA put astronauts on the moon in 2028? Why does the US need a lunar base? NASA Administrator Jared Isaacman joins guest host Tim Stenovec on today’s Big Take podcast episode to discuss the new space race with China, how NASA can compete for talent with SpaceX and Blue Origin – and why he doesn’t think we’re alone in the universe...
Never miss an episode. Follow The Big Take daily podcast today. Can NASA put astronauts on the moon in 2028? Why does the US need a lunar base? NASA Administrator Jared Isaacman joins guest host Tim Stenovec on today’s Big Take podcast episode to discuss the new space race with China, how NASA can compete for talent with SpaceX and Blue Origin – and why he doesn’t think we’re alone in the universe. Read more: www.bloomberg.com/space We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Listen and follow The Big Take on Apple Podcasts , Spotify or wherever you get your podcasts. Terminal clients: Visit NSUB to subscribe. This episode was produced by: Julia Press; Editors: Jeffrey Grocott; Fact-checker: Rae Lewis-Krisky and Eleanor Harrison-Dengate; Sound Design/Engineer: Alex Sugiura; Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer.