In This Article:
Julie Hyman takes a closer look at some of today's trending tickers.
CVS (CVS) shares pop after the company hired a new CFO and said it would meet or exceed its outlook.
Boeing (BA) is in focus after reporting a 41% year-over-year increase in deliveries in March.
Wayfair (W) stock plunges after Bank of America analysts cut its price target to $33 from $41, citing tariff impacts on prices.
To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
Now time for some of today's trending tickers. First up CVS, then Boeing and Wayfair. Let's start with CVS. That stock uh is it was jumping today. Let's make sure. Yes, it's still jumping. We've seen a meltdown in the market overall. CVS though is still higher after the pharmacy chains that it expects to meet or exceed its previous outlook for 2025. The company also uh made some management changes. David Joyner who became the CEO back in October, named a new CFO here. Um and the company is also named a new executive vice president and chief medical officer. So it seems like the market reacting to a couple different things here.
Yeah, I see that the change in the C suite, so former UPS CFO Brian Newman takes over, looks like effective April 21st. Looks like some positive commentary. I do see analysts at Loringside saying this will be helpful to address the complexity of the company's broad enterprise. Um also did name a new uh looks like executive VP and chief medical officer. So on a down day, this one's popping.
Yeah, and Walgreens also, by the way, in the same business coming out today and beating in terms of its numbers. Of course, it's not going to be public for long. It's being bought by Sycamore for 10 billion, which is going to close by the end of the year, but really all of anything in health insurance have that has Medicare and Medicaid or Medicare Advantage exposure has been rising today. That's because the center for Medicare services came out after the close yesterday and announced its new rate structure for next year and it's a little bit more of an increase than it was estimated. So that's something underlying all this. It's also interesting.
It did look like their health care unit was a positive in that report. Related. Our next trending ticker, so we got Boeing here. That stock also moving higher in today's trade after the company announced it delivered 41 jets in March. That was up from 29 during the same month a year ago. Though the figure was slightly lower than the 45 handed over in January and 44 in February. Uh so listen, 41 jets in March. That was the best three months since the final quarter of 2023 per Bloomberg. Uh remember Airbus scheduled to report its monthly orders delivery deliveries on Wednesday. Listen, for Boeing, 2024, we know rough obviously, the strike, other issues. Now dealing with tariffs, possible ripple effects there, questions about China, but uh good report today.
Good report, but the stock isn't higher anymore. It was higher. Now it's dipping a little bit lower along with the rest of the market. By the way, we're going to get Airbus deliveries tomorrow, I believe. So we'll see how Boeing did of versus its larger or largest competitor, I should say. Um and also our next trending ticker is Wayfair. Those shares are lower today. Bank of America lowering its price target on the stock from $41 to $33, citing the impact of tariffs on prices. Now, this was a part of a bigger report that looked at sort of internet, e-commerce, um furniture retailers, uh but in terms of Wayfair specifically, um the analysts over at Bank of America are also sort of comparing this tariff tariffs this round versus tariffs that we saw uh during President Trump's first term and saying this time is going to be a harder slog.
Yeah, on the home furnishing industry, uh they talk about listen highly exposed to tariffs. History indicates price increases could risk volumes. They say in the current form we believe tariffs uh would be very difficult to manage and they say we estimate consumer prices would have to increase by potentially 30% plus to offset higher costs.
Yeah, and in terms of Wayfair specifically, they say IDA could likely take a hit because of lower volumes as we see the tariff uh follow through, but further operating expense cuts could limit the impacts.
Other names they talk about RH. They say it could see significant hit to earnings from tariffs. They talk about Etsy, they describe as relatively well protected, but still see risks to GMS growth, so gross merchandise sales.
Yeah.
