With declining cigarette sales, Philip Morris ($PM) is embracing a smoke-free future. The controversial tobacco brand saw an 8.3% sales increase in the first quarter, fueled by growing demand for its Zyn nicotine pouches — which saw shipments rise 80% compared to the same period last year — and its IQOS heated tobacco sticks, which experienced a ~21% sales boost in Q1. Philip Morris has big plans for diversification, aiming for over half of its revenue to come from non-cigarette products by 2025/2026 — and two-thirds by 2030. This contrasts with competitor Altria ($MO), which spent over $20B ..read more

Investors, please put on your seatbelt — Boeing ($BA) is hitting some rough patches in the stock market. Already down more than 36% this year, the aerospace manufacturer just released its first full quarter of earnings since the harrowing door blowout on an Alaska Airlines ($ALK) 737 MAX 9. And the damage is evident: its revenue dropped by 8%, marking the company’s first decline in seven quarters. Boeing made 36% fewer jets in the first quarter amid a crackdown on its production line, which aims to increase oversight of the production process and fix quality problems. The slowdown caused Boei ..read more

For decades, music labels were the only investors in the music industry — offering artists upfront cash in exchange for a share of their future earnings. But with legacy music businesses languishing, investment firms like Apollo ($APO) and BlackRock ($BLK) are pouring billions into buying stakes in artists’ catalogs, hoping to cash in on the music industry’s growth. However, not all investors are hitting the right notes. Hipgnosis no more: Take Hipgnosis Songs Fund ($HPGSF), the first publicly traded music investment company. They’ve splashed out nearly $2.2B to acquire over 57K music royalty ..read more

Cathie Wood’s ARK funds have hit an iceberg, but will it sink or sail on? Just four months into 2024, the investment firm’s once-revered exchange-traded funds (ETFs) have seen $2.2B in outflows — with its flagship ARK Innovation ETF ($ARKK) hit the hardest. The recent downturn surpasses last year’s outflows, bringing total assets down to $11.1B — a stark drop from a high of $59B in 2021. Back in 2020, ARK funds attracted $20B in deposits — but since then, the firm has seen a staggering $14.3B in investor money vanish, making it the biggest loss among asset managers over the past decade. To st ..read more

If you’re having trouble filling your prescription meds, you aren’t alone. Right now, there are over 323 drugs in short supply, which is the highest it’s ever been. All drug classes are affected, from generic cancer drugs to commonly prescribed ADHD medication like Adderall. The frustrating part? Most of it is self-inflicted. Overseas competition has suppressed generic drug prices — making it unprofitable for most domestic drugmakers to produce them. As for Adderall, a confusing mix of rising demand, supply-chain issues, and DEA-imposed restrictions have led to a shortage since Oct. 2022. No ..read more

In the aftermath of a disruptive cyberattack affecting US pharmacies and hospitals, UnitedHealth Group ($UNH), the parent company of Change Healthcare, has confirmed that a hacker group stole sensitive medical data from a “substantial proportion of people in America.” Although UnitedHealth paid $22M to one of the hacking groups involved, the real cost will be much higher. According to UnitedHealth, the attack, which involved the theft of 6TB of personally identifiable information as claimed by hacker group ALPHV, could cost the company $1.6B this year. To address concerns among customers affe ..read more

Four years back, global markets stood still as US oil prices plunged into the red for the first time — hitting negative $30 on Apr. 20, 2020. This collapse spelled doomsday for industry powerhouses like Shell ($SHEL) and British Petroleum ($BP), which boldly declared that the world had finally reached peak oil demand. Luckily for them, they were wrong. Greasing the stocks: Two years later, oil demand not only bounced back but surpassed pre-pandemic levels with record back-to-back years of demand that sent oil and gas giants like Exxon Mobil ($XOM) and Chevron ($CVX) to new heights. That’s help ..read more

China, known as the leading gold producer and buyer, isn’t only mining gold but bagging it at a rate like never before. For 17 consecutive months, China’s central bank has been buying the precious metal — aiming to shift its reserves away from the US dollar despite the associated high costs and a weakening yuan. It’s the country’s longest gold-buying run (ever) and an important ingredient in the commodity’s rally to record highs this year. Over the past two years, China has imported over 2.8K tons of gold — experiencing a 34% increase in imports in the first quarter of this year compared to l ..read more

Much like its fast-moving burrito assembly lines, Chipotle ($CMG) is a well-oiled machine. Four straight quarters of better-than-expected earnings have the Mexican chain’s stock up 61% over the past year — and sales are growing even faster, largely due to increasing prices. Since 2021, Chipotle has raised menu prices six times, yet customers remain loyal to their burrito bowls. That’s partly because of the chain’s affluent customer base — about 34% earn over $125K/year and are less sensitive to price hikes. This is crucial as dining out has become 29% more expensive since Mar. 2019, with deli ..read more

Disney ($DIS) fans in Southern California can finally rejoice: after years of proposals, the City of Anaheim has unanimously approved Disney’s $1.9B expansion of its California theme parks — clearing the way for final approvals in May. It will include several new themed lands — and mark the company’s largest expansion in the state since Disney’s California Adventure opened in 2001. The $1.9B expansion is a tiny sliver of the $60B worth of proposed expansions made by CEO Bob Iger last year, which Disney plans to roll out over the next decade. This new California expansion joins ongoing develop ..read more