Here’s a look at the companies making the biggest moves in pre-market trading: Eli Lilly, ResMed — Eli Lilly shares rose 2% after the pharmaceutical giant announced that its weight-loss drug Zepbound showed potential for treating patients with obstructive sleep apnea. Shares of ResMed, which makes devices to treat sleep-disordered breathing, fell nearly 4% on the news. Travelers – Shares fell nearly 5% after the insurer reported first-quarter losses and losses. Earnings per share were $4.69 versus $4.90 expected by analysts polled by LSEG. Revenue was $10.18 billion, compared with expectations of $10.51 billion. Travelers said the drop in revenue was due to higher levels of disaster losses. United Airlines — Shares gained 6% on the day after the carrier reported an adjusted loss of 15 cents for the first quarter, narrower than the 57-cent loss expected by analysts polled by LSEG. Quarterly revenue also exceeded expectations. JB Hunt Transport Services – Shares fell 8% on the day after the transportation and logistics company reported a loss in profit and revenue for the first quarter. J.B. Hunt said domestic demand remained flat and weaker than expected. ASML Holding – U.S.-listed shares fell 5% after the Dutch semiconductor company reported revenue and new orders that fell below consensus estimates. Omnicom — The company’s shares rose nearly 3% on the day after the communications company reported better first-quarter earnings and revenue. According to StreetAccount, organic revenue rose 4% versus analysts’ expectations of 3.2%. Autodesk – Software shares fell 5%. Autodesk said Tuesday it will further delay its annual 10-K filing due to the board’s ongoing internal investigation. Alcoa — Aluminum shares rose nearly 3% after reports that President Joe Biden will propose tripling China’s tariff rates on steel and aluminum imports during a visit to the United Steelworkers headquarters in Pittsburgh on Wednesday. Alcoa is expected to report earnings after the market closes. Elf Beauty — Shares of the cosmetics company rose 2.6% after TD Cowen upgraded the stock to a buyout. The firm said it was impressed by the new products and forecast revenues could possibly double over the next three years. Ferrari – Shares rose 1.8% after Bernstein reiterated his overweight rating on Ferrari, saying the Italian luxury sports car maker is “beginning to meet the challenge of electrification.” The analyst’s $512 price target suggests 24% upside from Tuesday’s closing price. Abbott Laboratories — Shares fell slightly even as the medical device company beat first-quarter expectations and raised the midpoint of its full-year guidance. Abbott Laboratories reported adjusted earnings of 98 cents per share, beating the FactSet consensus estimate of 95 cents per share. Revenue of $9.96 billion beat expectations of $9.88 billion. Capri Holdings – Shares fell 1.5% after the New York Times Dealbook reported that the Federal Trade Commission is preparing to block the takeover of Coach and Kate’s parent company Tapestry Spade for $8.5 billion. Tapestry shares gained 1.8% as CNBC reporters Jesse Pound, Hakyung Kim, Sarah Min and Fred Imbert contributed.
