Happy Wednesday, Zingernation! If you’re a golfer, you know that one friend who swears he’s a 12 handicap, but plays more like a 5 every time you’re up against him. This is what we call a “sandbagger” — someone who pretends to be worse than they are in order to get more shots and exceed expectations.

Now, I know that Mark Zuckerberg is more of a ju-jitsu guy than a golf guy, but he may want to take a club out of the sandbagger’s bag and learn how to limit expectations. Meta came in with a double beat and raised guidance, but the stock still got clobbered and traded down more than 12%.

–Aaron Bry and Nic Chahine

Today’s Price Action:

$SPY: -.05%
$QQQ: +.34%
$DIA: -.15%

Plus, worried about losing your hair? You’re not alone, join the millions of men using Hims to combat hair loss.

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TODAY’S MOST VOLATILE STOCKS

TODAY’S TOP STORY

Meta Platforms Q1 Earnings Highlights

Briefly: Facebook- and Instagram-parent Meta Platforms reported first-quarter financial results after market close today.

What Happened: Meta reported Q1 revenue of $36.45 billion, up 27% year-over-year and ahead of Street consensus estimates of $36.16 billion, according to data from Benzinga Pro.

What Else: The company reported earnings per share of $4.71, beating a Street estimate of $4.33, and 3.24 billion Family Daily Active People, up 7% year-over-year.

Why It Matters: Meta CEO Mark Zuckerberg maintained, “The new version of Meta AI with Llama 3 is another step towards building the world's leading AI.” However, shares still tumbled in after-hours trading, as investors likely pondered if the company’s AI ambitions might echo its metaverse pivot.

Click here to read more.

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FIVE MOVERS

ServiceNow shares are trading down after the California-based cloud company reported worse-than-expected earnings.

Lam Research shares dropped after the bell despite the chip company reporting better-than-expected earnings.

Uber stock traded lower in today’s session after Tesla and Elon Musk announced updates on its robotaxis, taking direct aim at Uber and Lyft.

Chipotle stock traded higher after rolling up a nice earnings report for shareholders, beating on EPS and revenue estimates.

Tesla shares closed up more than 10% today as investors took out bullish positions on the company after its Q1 earnings report cleared a low bar.

ONE TRADE IDEA FOR TOMORROW

Boston Scientific Lifts 2024 Profit Forecast

Briefly: Boston Scientific shares traded higher today after the company reported better-than-expected first-quarter earnings and issued guidance.

So Basically: The company generated first-quarter revenues of $3.86 billion, beating the consensus estimate of $3.69 billion.

So Then: Sales soared 13.8% year-over-year on a reported basis, 15% on an operational basis, and 13.1% on an organic basis, beating management guidance.

So What? “Our exceptional results this quarter were fueled by our talented global team and the strength of our diversified businesses and pipeline, including the initial U.S. launch of the FARAPULSE Pulsed Field Ablation System,” said Mike Mahoney, chairman and CEO.

Click here to read more.

PRESENTED BY HIMS

Fuller, Thicker Hair In 3-6 months*

Hims offers award-winning hair loss treatments that truly work. Available in a serum, spray, pill, or chew — whichever fits your routine.

You can trust that all Hims products are made with doctor-trusted, clinically proven ingredients. And the process is simple and 100% online.

Ready to find out what Hims can do for you? Complete their intake form and a medical provider will determine if treatment is right for you. If prescribed, your medication ships for free!

Start your free assessment to discover your options.

Based on separate individual studies of topical and oral finasteride and minoxidil. Hair Hybrids are compounded products and have not been approved by the FDA. The FDA does not verify the safety or effectiveness of compounded drugs. Restrictions apply, see website for full details. Prescription products require an online consultation with a healthcare provider who will determine if a prescription is appropriate.

*Actual price to customer will depend on product and subscription plan purchased.