Check out the companies making headlines before the bell. PVH — Calvin Klein and Tommy Hilfiger’s parent company’s stock price fell more than 21% after lower first-quarter and full-year earnings guidance. The company beat quarterly expectations for sales and bottom line profits, but warned of tougher macroeconomic conditions, particularly in Europe. Humana, UnitedHealth — Managed care stocks fell after the Centers for Medicare and Medicaid Services announced that the tax rate would increase by 3.7% in calendar year 2025, as previously proposed. Some investors had expected a significant rate hike. Humana fell 9.6% and CVS Health fell 5.3%. UnitedHealth Group fell 4%. Estée Lauder — Shares rose more than 2% after Citi upgraded him to buy from neutral. The Wall Street bank said Estée Lauder is nearing a turning point as channel inventories and financials normalize. BLACKSTONE — Blackstone fell 1% after UBS downgraded the alternative asset manager to neutral, saying a slow recovery in the real estate market could weigh on share prices. Trump Media and Technology — Truth Social’s holding company’s stock price fell more than 2% on his. The decline came on Monday after the company disclosed that its 2023 revenue was less than $5 million. The demand boom caused by the pandemic has waned, and healthcare workers face a more challenging macroeconomic environment. GE Aerospace — General Electric shares rose 0.6% after the company completed the separation of its energy business from its aerospace business. GE Vernova will begin trading publicly on the New York Stock Exchange under the ticker GEV, while General Electric (now GE Aerospace) will retain the GE ticker symbol. ChampionX — Shares of the oilfield equipment maker soared 10% on news that the company will be acquired by SLB in an all-stock deal for $7.7 billion. This contract is expected to be completed by the end of 2024. — CNBC’s Sarah Min, Ha-Kyung Kim and Jesse Pound contributed reporting.
Stocks making the biggest moves pre-market: PVH, UNH, CVS
