Check out the companies making headlines before the bell. PVH — Shares of the Calvin Klein and Tommy Hilfiger parent tanked more than 21% on weak revenue guidance for the first quarter and full year. The retailer surpassed quarterly estimates on the top and bottom lines, but warned of a tougher macroeconomic setup and particular weakness in Europe. Humana , UnitedHealth — Health insurance managed care stocks declined after the Center for Medicare and Medicaid Services announced rates for the 2025 calendar year will increase 3.7%, as previously proposed. Some investors had anticipated a larger hike. Humana shed 9.6%, while CVS Health tanked 5.3%. UnitedHealth Group declined 4%. Estee Lauder — Shares gained more than 2% after a Citi upgrade to buy from neutral. The Wall Street bank said Estee Lauder is approaching a turning point, as channel inventories and its financials normalize. Blackstone — Blackstone slipped 1% after UBS downgraded the alternative asset manager to neutral, saying the stock could come under pressure from a slow recovery in the real estate market. Trump Media and Technology — Shares of the holding company for Truth Social fell more than 2%. That decline extended a drop of more than 21% on Monday, after the company disclosed that it generated less than $5 million of revenue in 2023. Figs — The medical scrubs maker slumped 4.5% after Bank of America downgraded the stock to underperform, as the pandemic-induced demand boom dwindles and health care workers face a tougher macroeconomic environment. GE Aerospace — General Electric shares ticked higher by 0.6% after the company completed spinning off its energy business from its aerospace business. GE Vernova will begin trading on the New York Stock Exchange at market open under the ticker GEV, while General Electric — which becomes GE Aerospace — will keep the GE ticker symbol. ChampionX — Shares of the oilfield equipment maker popped 10% on news the company will be bought by SLB for $7.7 billion in an all-stock deal. The deal is expected to close before the end of 2024. — CNBC’s Sarah Min, Hakyung Kim and Jesse Pound contributed reporting.
Stocks making the biggest moves premarket: PVH, UnitedHealth, CVS Health, ChampionX and more
Apr 2, 2024
