Shares of global car rental company Hertz (NASDAQ:HTZ)
jumped 57.9% in the pre-market session after reports revealed that Bill Ackman's Pershing Square had an even bigger stake in the company, a day after the hedge fund acquired $46.5m of the company's stock. Notably, CNBC reported that Pershing Square's total position was about 19.8%, including shares and swaps, making it the company's second-largest shareholder.
Shares of water control and measure company Badger Meter (NYSE:BMI) jumped 7% in the morning session after the company reported impressive first quarter 2025 results which exceeded analysts' revenue and EPS estimates. Sales rose 13% year-on-year, fueled primarily by a 16% gain in utility water sales.
Margins also expanded meaningfully due to a more favorable product and customer mix.
While the company did not issue formal guidance, management acknowledged that the second quarter would face tougher comparisons, yet reaffirmed confidence in long-term growth.
Overall, we think this was a solid quarter with some key areas of upside.
Shares of global pharmaceutical company Eli Lilly (NYSE:LLY)
jumped 15.3% in the morning session after results from a Phase 3 trial showed that its experimental drug, Orforglipron, performed significantly well in helping patients manage obesity and diabetes. The stock's reaction suggested that investors were optimistic that, if approved, Lilly could scale production quickly and tap into the fast-growing diabetes and obesity markets.
The US dollar has been falling since the beginning of 2025 down over 6% by April, which makes American products cheaper for overseas buyers helping boost demand
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Keurig Dr Pepper (NASDAQ:KDP) and the best and worst performers in the beverages, alcohol, and tobacco industry.
Shares of discount grocery store chain Grocery Outlet (NASDAQ:GO)
jumped 7.1% in the morning session after Jefferies upgraded the stock's rating from Neutral to Buy. The firm added, "We upgrade GO to BUY, given our view that the company's defensive positioning as a low-price grocer could drive outperformance during periods of economic uncertainty."
PepsiCo's downgrade stems from underperformance at Frito-Lay North America and weak market share in Pepsi Beverages North America. Despite strong international margins, the analyst foresees limited growth potential, with challenges including price sensitivity and competition from Coca-Cola.
Shares of aerospace and defense company Rocket Lab (NASDAQ:RKLB)
jumped 13.1% in the morning session after the company announced it was selected to provide hypersonic test launch capabilities through its HASTE launch vehicle, along with other related services, under two multi-billion-dollar government development programs for the United States and the United Kingdom.
