Key Points To Watch Out For:
- Hims & Hers shares fell 16% after reporting that it will stop offering compounded semaglutide
- Strategy and other cryptocurrency-related stocks fell after bitcoin fell below $90,000
- Cleveland-Cliffs lost 4.5% in premarket trading on optimistic forecasts for 2025
Hims & Hers Health (HERS): Semaglutide withdrawal impacts share price
Hims & Hers Health shares fell 16% in premarket trading after the company revealed it would stop offering semaglutide compound, the active substance in Wegovy and Ozempic, after the first quarter. The decision may affect its growth in the telemedicine sector.
Zoom Communications (ZM): Disappointing forecast weighs on its shares
Zoom fell 5% in premarket trading after its earnings forecast failed to meet investor forecasts. Although it has seen steady growth in subscribers, the company is facing difficulties in monetization and increasing competition.
Solventum (SOLV): Possible acquisition by Thermo Fisher generates interest
Thermo Fisher Scientific (TMO) is close to buying the purification and filtration division of Solventum, in a deal that could be worth between 3.5 and 4 billion dollars. Solventum, spun off from 3M last year, is in the sights of the healthcare sector.
Coinbase (COIN), Strategy (MSTR) and Robinhood (HOOD): Fall of bitcoin (BTC) drags down their shares
Cryptocurrency-linked stocks fell in premarket trading as bitcoin dropped below $90,000. Strategy, formerly MicroStrategy, said it recently acquired additional bitcoin, but this did not prevent the drop in its share price.
Cleveland-Cliffs (CLF): Weak results and drop in sales
Steelmaker Cleveland-Cliffs reported wider deficits and lower sales in the last quarter. Although its CEO, Lourenco Goncalves, predicted a recovery by 2025 driven by Donald Trump’s policies, the stock fell 4.5% in premarket trading.
Today’s earnings highlights
Today, financial reports are expected from:
- Home Depot (HD)
- Keurig Dr. Pepper (KDP)
Investors will be attentive to the results, particularly in Home Depot, to evaluate the behavior of the retail sector in the USA.
