U.S. stock futures were mixed this morning, with the Nasdaq futures gaining around 0.1% on Wednesday.
Shares of PVH Corp. PVH fell sharply in today's pre-market trading after the company guided a third-quarter revenue decline and issued EPS estimates below estimates.
PVH reported quarterly earnings of $3.01 per share, which beat the analyst consensus estimate of $2.29 by 31.44%. Quarterly sales came in at $2.074 billion which beat the analyst consensus estimate and is a 6.03% decrease from the same period last year.
PVH expects third-quarter revenue to decrease by 6% to 7% and sees earnings of approximately $2.50 per share versus the $3.12 estimate. The company reaffirmed the fiscal year 2024 revenue decrease of 6% to 7% and raised its earnings outlook from between $11.00 and $11.25 per share to between $11.55 and $11.80 per share versus the estimate of $11.31.
PVH shares dipped 8.1% to $95.97 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
- nCino, Inc. NCNO shares dipped 14.7% to $29.45 in pre-market trading after reporting second-quarter results.
- Magnite, Inc. MGNI shares declined 6.6% to $13.00 in pre-market trading.
- Clover Health Investments Corp CLOV shares fell 4.4% to $3.06 in pre-market trading after declining 4% on Tuesday.
- Bit Digital Inc BTBT shares declined 4% to $3.37 in pre-market trading following a 5% plunge on Tuesday.
- Marathon Digital Holdings Inc MARA fell 3.4% to $17.14 in pre-market trading following a decline in Bitcoin prices.
- HIVE Digital Technologies Ltd. HIVE shares slipped 3.8% to $3.22 in pre-market trading amid a drop in the price of Bitcoin.
Now Read This:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
