DAL, WBA, CEG, CPRI & more
Check out the companies making headlines in premarket trading. Delta Air Lines — The airline stock popped 6% on stronger-than-anticipated fourth-quarter earnings. Delta posted adjusted earnings of $1.85 per share in $14.44 billion in revenue. That surpassed the EPS of $1.75 and $14.18 billion in revenue expected by analysts polled by LSEG. The company also offered up strong guidance. Walgreens Boots Alliance — The pharmacy stock surged 11% on better-than-expected results in the fiscal first quarter. Walgreens reported 51 cents adjusted earnings per share on $39.46 billion in revenue. Analysts surveyed by LSEG had forecasted earnings of 37 cents per share and $37.36 billion in revenue. Meanwhile, the company maintained its fiscal 2025 adjusted earnings guidance range between $1.40 and $1.80 per share. Constellation Energy — Shares rallied 9% after confirming it will acquire Calpine in a deal that includes cash and stock. Constellation also guided its full-year adjusted earnings per share to above where analysts anticipated. Edison International — The Southern California utility provider slid 2.7% as deadly wildfires continued to burn in Los Angeles. Edison has denied involvement in starting the wildfire, but has still been asked by insurance companies to preserve evidence. The move comes after Edison shares tumbled more than 10% on Wednesday. Allstate , Travelers , Chubb — Property and casualty insurers fell as estimates of insured losses from the Los Angeles wildfires ballooned. The wildfire event could end up being the costliest blaze in history with losses exceeding $20 billion, estimates JPMorgan. Allstate was down 5% in premarket trading. On Semiconductor — Shares dropped 2.7% in the wake of Truist’s downgrade to hold from buy. Truist said it’s cautious on the stock until estimates are reset lower. Archer Aviation , Joby Aviation — The eVTOL stocks fell more than 3% and 6%, respectively, after a pair of JPMorgan downgrades. The bank moved Archer to neutral and Joby to underweight, noting both have underperformed within clean tech as the market moved to a risk-on environment. Sunrun — The solar stock gained 4% on the back of an upgrade at UBS to buy from neutral. The bank said Sunrun is becoming the clear market leader as the residential solar market stabilizes. Hims & Hers Health — Shares of the digital health care platform retreated 3.2% on the heels of a Citi downgrade to sell from neutral. Citi said investors may be over-estimating the revenue stream tied to GLP-1s. Roku — Shares of the streaming video platform fell 3.6% after a downgrade to sell from neutral at MoffettNathanson. The investment firm said investors are too optimistic about a potential acquisition of Roku by a bigger company and that continued weakness in the advertising market could hurt profitability. Sweetgreen — The salad chain advanced 3.5% on the back of Citi’s upgrade to buy from neutral. Citi said the California-based company’s robotic kitchen can boost finances. Wayfair — Shares popped 5% after the retailer said it was exiting the German market and cutting around 3% of its global workforce. These moves come as the company keys in on new drivers of growth like physical retail. Capri Holdings — The Jimmy Choo and Michael Kors parent added 4.9% following two Wall Street upgrades. Citi upgraded shares to buy from neutral, while Wells Fargo raised its rating to overweight from equal weight. — CNBC’s Jesse Pound, Samantha Subin, Hakyung Kim and Michelle Fox contributed reporting
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