Core Viewpoint - Goldman Sachs analyst James Schneider maintains a Buy rating on T-Mobile US, Inc. with a price target increase from $280 to $285, despite expectations of lower stock trading following results that showed in-line financial metrics and postpaid phone net additions [1] Financial Performance - T-Mobile reported revenue of $20.89 billion, exceeding Schneider's estimate of $20.78 billion and the Street's estimate of $20.64 billion, driven by an increase in equipment revenue [6] - Postpaid phone net additions were +495k, slightly above Schneider's estimate of +486k but below the Street estimate of +499k [6] - High-speed internet net additions were +424k, surpassing both Schneider's estimate of +399k and the Street estimate of +396k [6] Guidance and Market Expectations - T-Mobile updated its 2025 guidance, maintaining postpaid net customer addition guidance at 5.5-6.0 million, compared to the analyst estimate of 6.03 million and the Street estimate of 5.87 million [7] - Investors had anticipated a greater upside in postpaid phone net additions and guidance, based on historical patterns and recent acquisitions [2] Industry Context - The overall industry phone net additions for major carriers, including T-Mobile, were +853k in Q1 2025, reflecting a year-over-year increase of 203k, but a decrease from +1,056k in Q1 2024, indicating a slowing growth rate [4] - On the residential broadband side, net additions were +596k in Q1 2025, down 33k year-over-year, compared to 629k in Q1 2024, suggesting a slowdown in the industry [5] - Despite higher promotional activity and churn metrics across wireless carriers, the wireless market remains healthy due to recent plan price increases [3]

Core Viewpoint - Goldman Sachs analyst James Schneider maintains a Buy rating on Verizon Communications Inc with a price target of $52, despite mixed results in subscriber metrics [1][5]. Financial Performance - Verizon reported total revenue of $33.5 billion, aligning with analyst estimates of $33.4 billion and the Street's estimate of $33.3 billion [1]. - Adjusted EPS was $1.19, surpassing the analyst estimate of $1.14 and the consensus of $1.15 [1]. - Total wireless service revenue reached $20.8 billion, reflecting a year-over-year increase of 2.7%, consistent with analyst estimates of $20.83 billion and above the Street's estimate of $20.44 billion [1]. Subscriber Metrics - Postpaid phone net additions were -289k, significantly below the analyst estimate of -240k and the Street's estimate of -199k [2]. - Consumer revenue was $25.6 billion, matching analyst estimates of $25.56 billion and the Street's estimate of $25.45 billion [2]. - Consumer postpaid phone net additions were -356k, underperforming against the analyst estimate of -320k and the Street's estimate of -289k [2]. - Consumer fixed wireless net additions were +199k, in line with the analyst estimate of +200k and the Street's estimate of +195k [2]. Business Outlook - Verizon reiterated its financial guidance for 2025, projecting wireless service revenue growth of 2%-2.8%, which translates to $83.7-$84.4 billion, compared to the analyst estimate of $84.2 billion and the Street's estimate of $82.8 billion [4]. - Adjusted EPS growth guidance is set at 0%-3%, implying a range of $4.59-$4.73, compared to the analyst and Street estimate of $4.68 [4]. Market Reaction - Verizon stock increased by 1.12% to $43.44 at the time of publication [7].

Core Insights - Ipsen reported strong sales growth for Q1 2025, with total sales reaching €918.8 million, reflecting an increase of 11.7% as reported and 11.6% at constant exchange rates (CER) [2][7] - The company highlighted significant growth in its Rare Disease segment, which saw a remarkable increase of 78.4% in sales, driven by innovative medicines [2][7] - Ipsen confirmed its full-year financial guidance for 2025, acknowledging potential negative impacts on Somatuline sales due to increased generic competition [3][7] Sales Performance - Oncology sales amounted to €655.0 million, up 8.5% [2] - Neuroscience sales reached €193.5 million, reflecting an 8.0% increase [2] - Rare Disease sales were €70.3 million, marking a substantial growth of 78.4% [2] Strategic Initiatives - The CEO emphasized the ongoing transformation of the company and the importance of 2025 for Ipsen, with multiple product launches and milestones expected [2] - Ipsen is advancing its pipeline with the regulatory filing for tovorafenib accepted by EMA for pediatric low-grade glioma, indicating a commitment to innovation in challenging cancer treatments [4][5] Financial Guidance - Ipsen confirmed its financial guidance for 2025, which includes anticipated challenges from generic competition affecting Somatuline sales [3] - The company expects total sales growth to exceed 5.0% at constant currency, with a core operating margin greater than 30.0% [8] Upcoming Milestones - Key milestones anticipated in 2025 include regulatory decisions for Cabometyx and fidrisertib, as well as proof-of-concept data for LANT [9] - The company initiated Phase I trials for IPN01195, a RAF inhibitor, complementing its existing pipeline [5] Refinancing Activities - Ipsen successfully completed its inaugural Rated Public Bond of €500 million with a coupon of 3.875%, which is part of its refinancing strategy [10]