PVH Posts Q4 Results, Joins Humana, CVS Health And Other Big Stocks Moving Lower In Tuesday's Pre-Market Session

U.S. stock futures were lower this morning, with the Dow futures falling by over 100 points on Tuesday.

Shares of PVH Corp. PVH fell sharply in today’s pre-market trading after the company reported fourth-quarter financial results and issued guidance.

PVH reported quarterly earnings of $3.72 per share which beat the analyst consensus estimate of $3.53 by 5.38% and is a 56.3% increase over earnings of $2.38 per share from the same period last year. Quarterly sales came in at $2.49 billion which beat the analyst consensus estimate of $2.42 billion by 2.89%, according to data from Benzinga Pro.

The company sees fiscal year 2024 earnings of between $10.75 and $11.00 per share, versus the $10.48 estimate. Revenue is projected to decrease between 6% and 7% compared to 2023.

PVH shares tumbled 23.4% to $107.00 in pre-market trading.

Here are some big stocks recording losses in today’s pre-market trading session.

• Fractyl Health, Inc. GUTS shares dipped 13.7% to $6.43 in pre-market trading amid volatility after the company reported fourth-quarter financial results.
• GCT Semiconductor Holding, Inc. GCTS shares declined 12.6% to $15.82 in pre-market trading after declining over 45% on Monday. GCT Semiconductor appointed Nelson C. Chan to Board of Directors.
• Petco Health and Wellness Company, Inc. WOOF shares fell 11.1% to $1.85 in pre-market trading after declining around 9% on Monday.
• Humana Inc. HUM shares fell 8.8% to $320.55 in pre-market trading after the Centers for Medicare & Medicaid Services (CMS) finalized payment updates. The CMS announced Monday that it finalized the calendar year 2025 Rate Announcement for the Medicare Advantage (MA) and Medicare Part D Prescription Drug (Part D) programs that updates payment policies for these programs and ensures payment accuracy.
• MicroStrategy Incorporated MSTR shares declined 7.1% to $1,521.00 in pre-market trading amid a decline in Bitcoin.
• Bit Digital, Inc. BTBT shares fell 5.4% to $2.61 in pre-market trading amid a decline in Bitcoin.
• CVS Health Corporation CVS shares declined 5.2% to $75.41 in pre-market trading after the Centers for Medicare & Medicaid Services (CMS) finalized payment updates.
• Lotus Technology Inc. LOT shares declined 4.7% to $6.54 in pre-market trading. Lotus Technology is expected to report its unaudited fourth quarter before the opening bell on April 8, 2024.

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