PVH, nCino, Marathon Digital And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

Author: Avi Kapoor | August 28, 2024 08:19am

U.S. stock futures were mixed this morning, with the Nasdaq futures gaining around 0.1% on Wednesday.

Shares of PVH Corp. (NYSE: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. (NASDAQ:NCNO) shares dipped 14.7% to $29.45 in pre-market trading after reporting second-quarter results.
Magnite, Inc. (NASDAQ:MGNI) shares declined 6.6% to $13.00 in pre-market trading.
Clover Health Investments Corp (NASDAQ:CLOV) shares fell 4.4% to $3.06 in pre-market trading after declining 4% on Tuesday.
Bit Digital Inc (NASDAQ:BTBT) shares declined 4% to $3.37 in pre-market trading following a 5% plunge on Tuesday.
Marathon Digital Holdings Inc (NASDAQ:MARA) fell 3.4% to $17.14 in pre-market trading following a decline in Bitcoin prices.
HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares slipped 3.8% to $3.22 in pre-market trading amid a drop in the price of Bitcoin.