Check out the companies making headlines in premarket trading. PVH Corp — The fashion stock soared about 16% on the back of stronger-than-expected earnings for the fourth quarter. The Calvin Klein and Tommy Hilfiger parent earned $3.27 per share, excluding items, on $2.37 billion in revenue, beating the consensus forecasts of analysts polled by LSEG for $3.21 a share and revenue at $2.33 billion. Johnson & Johnson — Shares pulled back 4% after a U.S. bankruptcy judge denied the health-care product maker’s $10 billion settlement proposal tied to thousands of lawsuits alleging its baby powder and other talc products caused ovarian cancer. The judge said Johnson & Johnson’s plan did not have enough support from the women who allegedly got cancer from its products. Airlines — Several air carrier stocks slid after downgrades by Jefferies. American and Delta both fell nearly 2% after moving to hold ratings, while Southwest lost more than 3% following its downgrade to underperform. Xpeng — U.S.-listed shares of the Chinese electric vehicle company rallied 3%. Xpeng delivered 33,205 vehicles in March, marking an increase of more than 260% from the same month a year ago. Newsmax — Shares of the conservative cable news network surged more than 22% in the premarket, adding to gains from the previous session when Newsmax soared more than 700% in its public debut on the New York Stock Exchange. The stock, which opened at $14 a share and was priced at $10 a share, closed Monday at $83.51. Shake Shack — Shares of the burger chain rose 3% after Loop Capital Markets upgraded the stock to buy from hold. The investment firm said Shake Shack has a strong track record of beating sales expectations and that a recent pullback for the stock has created a buying opportunity. First Watch Restaurant Group — Shares advanced more than 3% after receiving an upgrade to buy from hold at TD Cowen. The firm said that it expects 2025 to see an improvement in same-store sales as a result of “more effective” marketing. — CNBC’s Sean Conlon, Sarah Min and Jesse Pound contributed reporting
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Our finance blog is your go-to resource for expert financial advice, covering everything from personal budgeting and saving strategies to smart investing and market analysis. Stay updated with the latest trends, tips, and insights to help you make informed decisions and achieve financial success.
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