Earnings spotlight: Why CVS, Uber, Super Micro stocks are surging
In today's segment of Trending Tickers, Market Catalysts host Julie Hyman outlines why shares of CVS (CVS), Uber (UBER), and Super Micro Computer (SMCI) are all surging in Wednesday's trading session.
Now time for some of today's training tickers. We are watching CVS, Uber and Super Micro. First up, CVS raising its outlook for the full year for earnings.
Um and that's as the company saw strength in its Aetna health insurance business in particular, even though uh it did see its um medical benefits ratio fall year over year.
I spoke on the phone to the CFO Brian Newman. We talked about um that he has tried to be somewhat um conservative with setting the companies or realistic was the word he used in setting the company's forecast uh so that they were achievable and indeed, they came out and beat their own forecast and raised their forecast for the full year.
He also flagged the strategy in the pharmacy business, the retail business that even though uh they didn't see much change in revenues there that they're working on some new strategy including including opening smaller stores that are more pharmacy-centric rather than the sort of retail front of the house.
Um revenue up 11% in their pharmacy benefit manager business as well. Um and overall that healthcare benefits revenue that includes Aetna was up by 3.3%. The shares rising by 7% today.
We're also taking a look at Uber shares. They are rising by 8% right now. The company's outlook for booking coming in ahead of what analysts had been looking for, ad adjusted EDA as well beating estimates here.
Um so that looking like what it is lifting the shares, um and they're trading higher as I said by about 8%.
And then a Super Micro, which has been sort of a challenge name or a volatile name at the very least, those shares are rising about 17% here. Uh the company's profit forecast sort of implying that it is better controlling some of its costs as it provides uh its AI servers here.
The company said in the current period, earnings per share are going to be 65 to 79 cents here. Analysts had been looking for 57 cents. So obviously, that is better than had been anticipated.
The shares, if you look at them on a year-to-date basis, they've recovered to some extent, they're up about 10%. Uh ye uh for over the past year though, they are down by about 2%. and as I said, this has been a volatile one. The short interest as a percentage of float is at 17%.