Jessica Alba Exits Honest Role

And, Toncoin's identity verification.

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Today is Wednesday, April 10, 2024.

The Early Bird Index today is 72.06.

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Jessica Alba Exits Honest Role

Actress Jessica Alba is stepping down as chief creative officer of the personal care company The Honest Company (Nasdaq: HNST), which she co-founded in 2011.

Details: Alba is still a member of Honest’s board of directors. The company said this is the right time for Alba to step down, now that Honest continues to grow.

Quote: “While there never would have been an easy time to make this decision, I know we have a leadership team in place to advance my founding vision and protect Honest’s reputation as an industry changemaker.” - Jessica Alba.

Also: As part of the announcement, Honest re-affirmed its full-year revenue and adjusted EBITDA outlook.

Background: Honest is coming off strong financial results in March. The company posted a surprise profit, which included record quarterly sales.

Stock Price: Honest is up 16% in 2024, although the stock has declined 20% in the last 30 days.

Final Thoughts: There are a lot of questions surrounding personal care and beauty companies right now. If consumer spending falls, these companies could be in trouble.


Notable Earnings Today: Delta Air Lines (NYSE: DAL), Applied Digital (Nasdaq: APLD), Lakeland Industries (Nasdaq: LAKE), Rent the Runway (Nasdaq: RENT), Richardson Electronics (Nasdaq: RELL), Theratechnologies (Nasdaq: THTX).

Notable IPOs Today: Mobile-health Network Solutions Class A Ordinary Shares (Nasdaq: MNDR).

Notable Equity Crowdfunding Campaigns Ending Today: Happy Honu Shave Ice (Honeycomb), Esoes Cosmetics (Wefunder), The Salty Pearl (Wefunder), Brown Bear Bread Cafe (Honeycomb).

Notable Economic Events Today: Consumer Price Index / Core CPI (8:30 a.m. ET), Crude Oil Inventories (10:30 a.m. ET), FOMC Meeting Minutes (2:00 p.m. ET), Federal Budget Balance (2:00 p.m. ET).

Toncoin's Identity Verification

Source: TON Network

As other cryptocurrencies were in the red on Tuesday, Toncoin continued its strong week with a 4% gain.

Price: Toncoin, the native cryptocurrency for the TON network, is up 36% in the last 7 days.

Powering the Story: On Monday, TON introduced a new palm recognition tool so that users could verify their identity. This innovation is why the price of the coin is up.

Final Thoughts: Toncoin has tripled in price this year and is now in the top 10 of the largest cryptos.

PriceSmart’s Special Dividend

PriceSmart (Nasdaq: PSMT), which operates membership warehouse clubs, climbed by 4.71% in after-hours trading on Tuesday after reporting better-than-expected financial results.

Financials: PriceSmart reported earnings of $1.31 per share in the past quarter and revenue of $1.29 billion; both were better than expected.

Powering the Story: The company also said it is giving shareholders a special one-time dividend of $1 per share in April.

Final Thoughts: PriceSmart is up 10% this year thanks to a rally involving consumer staples.

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.