Shares of medical device company Zimmer Biomet (NYSE:ZBH)
fell 10.2% in the afternoon session after the company reported underwhelming first quarter 2025 results as it lowered its full-year EPS guidance. A key takeaway was the weak growth. Sales were up just 1% as demand for some product lines came in weaker. While hips and trauma gear did well, others, like bone cement and surgical tools, dropped nearly 5%. Overall, this was a softer quarter.
Shares of medical device company Integra LifeSciences (NASDAQ:IART)
fell 28.5% in the morning session after the company reported weak first-quarter 2025 results, which included a significant miss on full-year EPS guidance and the next quarter's revenue outlook.
Shares of footwear company Skechers (NYSE:SKX)
jumped 26.2% in the pre-market session after the company announced it has agreed to be acquired by 3G Capital. 3G Capital will pay $63 per share in cash for all outstanding shares of Skechers, representing a premium of 30% to Skechers' 15-day volume-weighted average stock price. This significant premium likely signals 3G Capital's confidence in Skechers' brand strength and potential and should offer some current shareholders an immediate and attractive return on their investment.
Shares of security systems manufacturer Napco (NASDAQ:NSSC) jumped 8.8% in the morning session after the company reported impressive third quarter 20225 results as sales, earnings, and EBITDA all exceeded Wall Street expectations. The company reported solid gains in service sales, which rose 11% and now make up about half of all sales. With more of these high-markup services in the mix, gross margin improved.
Shares of aircraft leasing company FTAI Aviation (NASDAQ:FTAI) jumped 9.6% in the afternoon session after the stock continued its upward momentum as Wall Street analysts reaffirmed their bullish outlook.
Shares of meat company Tyson Foods (NYSE:TSN)
fell 9.7% in the morning session after the company reported weak first-quarter 2025 results, which included a miss on revenue and gross margin, despite beating analysts' EBITDA expectations and EPS estimates. Sales were roughly unchanged from the prior year, held back by volume declines in pork and prepared foods, though improved pricing helped cushion the blow.
Looking ahead, they're expecting sales to stay flat or tick up slightly, with most of the growth in profits coming from chicken and prepared foods. So, while the quarter wasn't great, there were some clear wins underneath the surface.
Technology narrowly missed being the strongest sector on a weekly basis for the third time in four weeks, but it did capture the 30-day leadership position.
Shares of major U.S. airlines rose Monday as oil prices fell following OPEC+'s decision to ramp up production. OPEC+ announced that it will increase oil production by 411,000 barrels per day in June.
Tesla Inc. (NASDAQ:TSLA) shares are trading lower Monday after industry data showed a drop in new car sales in Spain, which appears to be adding to concerns over European performance.
Fraser’s comments come as multiple companies have either withdrawn their full-year guidance or reduced their forecasts due to macroeconomic uncertainty.
Phillip Securities lowered its price target on Apple on Monday to $200 from $235, citing reduced gross margin estimates linked to higher tariffs and persistent weakness in China following the company’s Q2 earnings.
