By coinnews 
00:00 Speaker A
Now time for some of today’s trending tickers. We’re watching Wayfair, Estee Lauder, and Moderna. First up, Wayfair is rising after first quarter results blew past expectations. The household goods retailer reported adjusted earnings per share of 10 cents versus an estimated loss per share of 20 cents. On Wall Street, William Blair says the company’s inventory light supplier-based model should allow the firm to minimize tariff impact and price increases. Wayfair’s CEO says that with tariffs top of mind, the company has a direct line of sight and strong conviction on what they need to do for their customers and suppliers.
Next up, Estee Lauder says it expects to return to sales growth next year, despite forecasting a steep decline in 2025. The beauty brand sees full year net sales falling 8 to 9%. The company says its turnaround plans should result in sales growth next year, quote, provided there are meaningful resolutions and of the recently enacted tariffs to mitigate potential related negative impacts, end quote. Estee Lauder has been struggling with weak demand in Asia and declining market share in the US amid increasing competition.
And finally here, Moderna is falling after announcing big spending cuts as the company tries to rebound from slowing COVID-19 vaccine sales. The biotech firm will reduce annual spending by 1 and a half billion dollars by 2027, significantly more than previously announced. Part of the savings will come from the company delaying a trial for its combo COVID and flu vaccine. The company reported a 35% drop in revenue in the first quarter from the prior year.
You can scan the QR code below to track the best and worst performing stocks of the session with Yahoo Finance’s trending tickers page.